Ord 1987-112 - Laserfiche WebLink

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(b) AU payments made to the person deemed to be the owner of any Certificate in accordance with this Section shal1 be valid and effectual and shal1 discharge the liability of the City and the Paying Agent/Registrar upon such Certificate to the extent of the sums paid. Section 3.06. Registration. Transfer and Exchange. (a) So long as any Certificates remain outstanding. the City shaU cause the Paying Agent/Registrar to keep at its principal corporate office a register (the "Register") in which. subject to such reasonable regu1ations as it may prescribe, the Paying Agent/Registrar shal1 provide for the registration and transfer of Certificates in accordance with this Ordinance. (b) Registration of any Certificate may be transferred in the Register on1y upon the presentation and surrender thereof at the principal corporate office of the Paying Agent/Registrar for transfer of registration and cancellation. together with proper written instruments of assignment, in form and with guarantee of signatures satisfactory to the Paying Agent/Registrar. evidencing assignment of the Certificates. or any portion thereof in any integral multiple of $5.000, to the assignee or assignees thereof. and the right of such assignee or assignees thereof to have the Certificate or any portion thereof registered in the name of such assignee or assignees. No transfer of any Certificate shall be effective until entered in the Register. Upon assignment and transfer of any Certificate or portion thereof. a new Certificate or Certificates will be issued by the Paying Agent/Registrar in conversion and exchange for such transferred and assigned Certificate. To the extent possible the Paying Agent/Registrar will issue such new Certificate or Certificates in not more than three business days after receipt of the Certificate to be transferred in proper form and with proper instructions directing such transfer. (c) Any Certificate may be converted and exchanged only upon the presentation and surrender thereof at the principal corporate office of the Paying Agent/Registrar, together with a written request therefor duly executed by the registered owner or assignee or assignees thereof. or its or their duly authorized attorneys or representatives, with guarantees of signatures satisfactory to the Paying Agent/Registrar. for a Certificate or Certificates of the same maturity and interest rate and in any authorized denomination and in an aggregate principal or maturity amount equal to the unpaid principal or maturity amount of the Certificate presented for exchange. If a portion of any Certificate is redeemed prior to its scheduled maturity as provided herein. a substitute Certificate or Certificates having the same maturity date, bearing interest at the same rate. in the denomination or denominations of any integral multiple of $5.000 at the request of the registered owner. and in an aggregate principal amount equal to the unredeemed portion thereof, will be issued to the registered owner upon surrender thereof for cancellation. To the extent possible. a new Certificate or Certificates will be required to be delivered by the Paying Agent/Registrar to the registered owner of the Certificate or Certificates in not more than three business days after receipt of the Certificate to be exchanged in proper form and with proper instructions directing such exchange. (d) Each Certificate issued in exchange for any Certificate or portion 0405s -8-