Res 1985-045 - Laserfiche WebLink

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All Bonds issued upon any transfer or exchange of Bonds shall be the valid obligations of the City, evidencing the same debt, and entitled to the same benefits under this Ordinance as the Bonds surrendered in such transfer or exchange; and all Bonds issued upon any transfer or exchange shall be delivered at the principal corporate office of the Paying Agent/Registrar, or sent by United States registered mail to the Holder or his designee, at the Holder's risk and expense. To the extent possible I new Bonds issued in exchange or transfer of Bonds will be delivered to the registered owner or his desi<1nee in not more than three (3) business days after the rece1pt of the Bonds to be cancelled in the exchange or transfer and the written instrument of transfer or request for exchange duly executed by the registered owner or his duly authorized agent, in form satisfactory to the Paying Agent/ Registrar. Except as otherwise provided herein, all transfers and exchanges of Bonds shall be made without expense or service charge to the Holder; provided, however, that the Paying Agent/Registrar shall require payment by the Holder requesting such transfer or exchange of any tax or other governmental charges imposed in connection with any transfer or exchange. Neither the City nor the Paying Agent/Registrar shall be required to issue or transfer to an assignee of any Holder of Bonds any Bond called for redemption, in whole or in part, within 45 days of the date fixed for redemption; provided, however, that such limitation of transfer shall not be applicable to an exchange by the Holder of the unredeemed balance of a Bond called in part for redemption. Section 8. EXECUTION; FULLY REGISTERED FORM; DENOMINATIONS. (a) Execution. The Bonds shall be executed on behalf of the City by the Mayor of the City and countersigned by the City Secretary of the City. The signature of either or both of said officers on the Bonds may be manual or facsimile. The seal of the City may be printed, lithographed or impressed on each Bond. Bonds bearing the manual or facsimile signatures of individuals who at the time were the proper officers of the Cit:y shall be deemed to be duly executed on behalf of the City notw1thstanding that such individuals, or either of them, shall cease to hold such offices prior to the certification or registration and delivery of such Bonds or shall not have held such offices at the date of such Bonds, all as provided and authorized in the Bond Procedures Act of 1981 (Article 7l7k-6, V.T.C.S.), as amended. (b) Fully Registered Form. The Bonds are issuable in fully registered form only, both principal thereof and interest thereon to be payable only to the registered owner thereof. No Bond shall be entitled to right or benefit under this Ordinance, or be valid or obligatory for any purpose, unless there appears on such Bond either a certificate of registration substant1ally in -6-