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that the endors;{:~r~lznt tm the Bond or separate instrument of transfer is valid and genuine and that
<br />the requested lran:-;fer is legally authorized. The Registrar will incur no liability for the refusal, in
<br />good fixith, to make transfers which it, in its judgment, deems improper or unauthorized.
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<br /> (f) Persons Deemed Owners. The City and the Registrar may treat the person
<br />in whose nmx~,z a Bond is registered in the bond register as the absolute owner of the Bond,
<br />whether the B~md is overdue or not, for the purpose of receiving payment of, or on account of, the
<br />principal of ~md interest on the Bond and for all other purposes, and payments so made to a
<br />registered own,.,r or upon the owner's order will be valid and effectual to satisfy and discharge the
<br />liability upon m~ch Bond to the extent of the sum or sums so paid.
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<br /> (L) _Taxes, Fees and Charges. For a transfer or exchange of Bonds, the
<br />Registrar mt[y i~po>;e a charge upon the owner thereof sufficient to reimburse the Registrar for any
<br />tax, fee, or otimr governmental charge required to be paid with respect to the transfer or exchange.
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<br /> (t0 Mutilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes mutilated
<br />or is destrov,.:d, s~olen or lost, the Registrar will deliver a new Bond of like amount, number,
<br />maturity date and t~:nor in exchange and substitution for and upon cancellation of the mutilated
<br />Bond or ir~ lieu of mad in substitution for a Bond destroyed, stolen or lost, upon the payment of the
<br />reasonabk: c>:pemses and charges of the Registrar in connection therewith; and, in the case of a
<br />Bond destroyed-d, s~:olen or lost, upon filing with the Registrar of evidence satisfactory to it that the
<br />Bond was destr(~yed, stolen or lost, and of the ownership thereof, and upon furnishing to the
<br />Registrar of an ~pl~ropriate bond or indemnity in form, substance and amount satisfactory to it and
<br />as provided by law, in which both the City and the Registrar must be named as obligees. Bonds
<br />so surrender{:{I to the Registrar will be cancelled by the Registrar and evidence of such cancellation
<br />must be givc:t~ to ~l~e City. If the mutilated, destroyed, stolen or lost Bond has already matured or
<br />been called fiw redemption in accordance with its terms it is not necessary to issue a new Bond
<br />prior to payn~,:ni_.
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<br /> (i) Redemption. In the event any of the Bonds are called for redemption,
<br />notice therc(~f idcmtifying the Bonds to be redeemed will be given by the Registrar by mailing a
<br />copy of th~: red~:,t~ ~ption notice by first class mail (postage prepaid) not more than 60 and not less
<br />than 30 days prior to the date fixed for redemption to the registered owner of each Bond to be
<br />redeemed at th~: address shown on the registration books kept by the Registrar and by publishing
<br />the notice in ti~': manner required by law. Failure to give notice by publication or by mail to any
<br />registered owne:r, or auy defect therein, will not affect the validity of any proceeding for the
<br />redemption t,t' Bonds. Bonds so called for redemption will cease to bear interest after the specified
<br />redemption ,t;xt(:, i~rovided that the funds for the redemption are on deposit with the place of
<br />payment at t!',',,t tights...
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<br /> 2.04. /x~l,l~ointment of Initial Registrar. The City appoints First Trust National
<br />Association, 5;~. Paul, Minnesota, as the initial Registrar. The Mayor and the City Administrator
<br />are authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon
<br />merger or ~:onsolidation of the Registrar with another corporation, if the resulting corporation is a
<br />bank or trus~ co~r~p;_my authorized by law to conduct such business, such corporation is authorized
<br />to act as successor Registrar. The City agrees to pay the reasonable and customary charges of the
<br />Registrar fox the s¢,:vices performed. The City reserves the right to remove the Registrar upon 30
<br />days' notice :md tq~on the appointment of a successor Registrar, in which event the predecessor
<br />Registrar must deliver all cash and Bonds in its possession to the successor Registrar and must
<br />deliver the bond register to the successor Registrar. On or before each principal or interest due
<br />date, without l'urthcr order of this Council, the Finance Officer must transmit to the Registrar
<br />moneys sut'fi(:J cnt f()r the payment of all principal and interest then due.
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<br />2.05. t~x~cution, Authentication and Deliver. The Bonds will be prepared under the
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