Ord 1997-031 - Laserfiche WebLink

Home Browse Search

I I - SectlOn 305 Ownersh1p. (a) The CIty, the PayIllg Agent/RegIstrar and any other person may treat the person m whose name any Bond IS regIstered as the absolute owner of such Bond for the purpose of makIng and receIvmg payment of the pnnclpal thereof and premIum, if any, thereon, for the further purpose of maklllg and recelYmg payment of the mterest thereon (subject to the provIsions herem that mlerest IS to be paid to the person m whose name the Bond 1S regIstered on the Record Date), and for all other purposes, whether or not such Bond 1S overdue, and ne1ther the C1ly nor the Paymg Agent/Reg1slrar shall be bound by any notIce or knowledge to the contrary (b) All payments made to the person deemed to be the Owner of any Bond In accordance wIth thIS Secllon shall be valid and effectual and shall d1scharge the habIhty of the C1ty and the Paymg Agent/Registrar upon such Bond to the extent of the sums p31d. SectlOn 3 06 RegIstratIon, Transfer and Exchange. (a) So long as any Bonds remam outstandmg, the C1ty shall cause the PaYIng Agent/Reg1strar to keep at the Des1gnated Payment/Transfer Office a reg1ster (the "Reg1ster") m wh1ch, subject to such reasonable regulatlons as 1t may prescribe, the PayIllg Agent/RegIstrar shall proVIde for the registration and transfer of Bonds In accordance WIth tills Ordmance (b) RegIstratlOn of any Bond may be transferred m the Reg1ster only upon the presentatlOn and surrender thereof at the Des1gnated Payment/Transfer Office for transfer of regIstrallon and cancellatIon, together WIth proper wntten instruments of assignment, m form and WIth guarantee of slgnatures satIsfactory to the PaYlllg Agent/RegIstrar, eVIdencmg ass1gnment of the Bonds, or any portlOn thereof many mtegraI multlple of $5,000, to the assignee or ass1gnees thereof, and the nght of such ass1gnee or ass1gnees thereof to have the Bond or any portIon thereofreg1stered III the name of such aSSIgnee or ass1gnees. No transfer of any Bond shall be effect1ve untIl entered m the Register Upon asSIgnment and transfer of any Bond or portlOn thereof, a new Bond or Bonds \\I1ll be 1ssued by the Paymg Agent/Reg1strar 111 conversion and exchange for such transferred and ass1gned Bond. To the extent possible the Paymg Agent/Reg1strar will1ssue such new Bond or Bonds in not more than three busmess days after rece1pt of the Bond to be transferred m proper form and w1th proper instructlOns dlfectmg such transfer (c) Any Bond may be converted and exchanged only upon the presentatlOn and surrender thereof at the DeSIgnated Payment/Transfer Office, together w1th a \\Tltten request therefor duly executed by the regIstered owner or ass1gnee or assignees thereof, or 1tS or their duly authorized attorneys or representatlves, WIth guarantees of SIgnatures satIsfactory to the Paymg Agent/RegIstrar, for a Bond or Bonds of the same maturIty and mterest rate and many authonzed denommatlOn and In an aggregate pnncIpal amount equal to the unpaId prmc1pal amount of the Bond presented for exchange. If a portlOn of any Bond IS redeemed pnor to 1tS scheduled maturity as proVIded herem, a SubstItute Bond or Bonds haVIng the same maturIty date, bearlllg Interest at the same rate, m the denornmatlOn or denorninabons of any integral multIple of $5,000 at the request of the reg1stered owner, and III an aggregate prInCIpal amount equal to the unredeemed portlOn thereof, will be 1ssued to the regIstered owner upon surrender thereof for cancellatIon. To the extent possible, a new Bond or Bonds shall be dehvered by the PaYlllg Agent/Reg1strar to the reg1stered owner of the Bond or Bonds m not more than three busmess days after receipt of the Bond to be exchanged m proper form and \\I1th proper lllstructlOns d1rectlllg such exchange. (d) Each Bond 1SSUed m exchange for any Bond or portlOn thereof ass1gned, lransferred or converted shall have the same pnnc1pal matur1ty date and bear mterest at the same rate as the Bond for Wh1Ch It IS bemg R:ISA..'lMARIW'WSS.97\DQCSIORDNCE. 7