Laserfiche WebLink
<br />attorneys or representatives, with guarantees of signatures satisfactory to the <br />Paying Agent/Registrar, for a Bond or Bonds of the same maturity and interest rate <br />and in any authorized denomination and in an aggregate principal or maturity <br />amount equal to the unpaid principal or maturity amount of the Bond presented for <br />exchange. If a portion of any Bond is redeemed prior to its scheduled maturity as <br />provided herein, a substitute Bond or Bonds having the same maturity date, bearing <br />interest at the same rate, in the denomination or denominations of any integral <br />multiple of $5,000 at the request of the registered owner, and in an aggregate <br />principal amount equal to the unredeemed portion thereof, will be issued to the <br />registered owner upon surrender thereof for cancellation. To the extent possible, a <br />new Bond or Bonds will be required to be delivered by the Paying Agent/Registrar to <br />the registered owner of the Bond or Bonds in not more than three business days after <br />receipt of the Bond to be exchanged in proper form and with proper instructions <br />directing such exchange. <br /> <br />(d) Each Bond issued in exchange for any Bond or portion thereof <br />assigned, transferred or converted shall have the same principal maturity date and <br />bear interest at the same rate as the Bond for which it is being exchanged. Each <br />substitute Bond shall bear a letter and/or number to distinguish it from each other <br />Bond. The Paying Agent/Registrar shall convert and exchange the Bonds as provided <br />herein, and each substitute Bond delivered in accordance with this Section shall <br />constitute an original additional contractual obligation of the City and shall be <br />entitled to the benefits and security of this Ordinance to the same extent as the <br />Bond or Bonds in lieu of which such substitute Bond is delivered. <br /> <br />(e) The City will pay the Paying Agent/Registrar's reasonable and <br />customary charge for the initial registration or any subsequent transfer, exchange or <br />conversion of Bonds, but the Paying Agent/Registrar will require the Owner to pay a <br />sum sufficient to cover any tax or other governmental charge that is authorized to <br />be imposed in connection with the registration, transfer, exchange or conversion of <br />a Bond. In addition, the City hereby covenants with the Owners of the Bonds that it <br />will (i) pay the reasonable and standard or customary fees and charges of the Paying <br />Agent/Registrar for its services with respect to the payment of the principal of and <br />interest on the Bonds, when due, and (ii) pay the fees and charges of the Paying <br />Agent/Registrar for services with respect to the transfer, registration, conversion <br />and exchange of Bonds as provided herein. <br /> <br />Section 3.07. Cancellation and Authentication. <br /> <br />(a) All Bonds paid or redeemed before scheduled maturity in accordance <br />with this Ordinance, and all Bonds in lieu of which exchange Bonds or replacement <br />Bonds are authenticated and delivered in accordance with this Ordinance, shall be <br />cancelled and destroyed upon the making of proper records regarding such payment, <br />redemption, exchange or replacement. The Paying Agent/Registrar shall <br />periodically furnish the City with certificates of destruction of such Bonds. <br /> <br />(b) Each substitute Bond issued in conversion of and exchange for or <br />replacement of (pursuant to the provisions of Sections 3.06 and 3.08 hereof) any <br /> <br />2383f <br /> <br />-8- <br />