Laserfiche WebLink
<br />contemporaneously outstanding. The City or the Paying Agent/ Registrar may require the Owner of such <br />Certificate to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be <br />imposed in connection therewith and any other expenses connected herewith. <br /> <br />(b) In the event that any Certificate is lost, apparently destroyed or wrongfully taken, the Paying <br />Agent/Registrar, pursuant to the applicable laws of the State of Texas and in the absence of notice or <br />knowledge that such Certificate has been acquired by a bona fide purchaser, shall authenticate and deliver <br />a replacement Certificate of like tenor and principal amount, bearing a number not contemporaneously <br />outstanding, provided that the Owner first: <br /> <br />(i) furnishes to the Paying Agent/Registrar satisfactory evidence of his or her ownersh ip <br />of and the circumstances of the loss, destruction or theft of such Certificate; <br /> <br />(ii) furnishes such. security or indemnity as may be required by the Paying <br />Agent/Registrar and the City to save them harmless; <br /> <br />(iii) pays all expenses and charges in connection therewith, including, but not limited <br />to, printing costs, legal fees, fees of the Paying Agent/Registrar and any tax or other governmental <br />charge that is authorized to be imposed; and <br /> <br />(iv) satisfies any other reasonable requirements imposed by the City and the Paying <br />Agent/Registrar. <br /> <br />(c) If, after the delivery of such replacement Certificate, a bona fide purchaser of the original <br />Certificate in lieu of which such replacement Certificate was issued presents for payment such original <br />Certificate, the City and the Paying Agent/Registrar shall be entitled to recover such replacement Certificate <br />from the person to whom it was delivered or any person taking therefrom, except a bona fide purchaser, and <br />shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, <br />damage, cost or expense incurred by the City or the Paying Agent/Registrar in connection therewith. <br /> <br />(d) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken <br />Certificate has become or is about to become due and payable, the Paying Agent/Registrar, in its discretion, <br />instead of issuing a replacement Certificate, may pay such Certificate. <br /> <br />(e) Each replacement Certificate delivered in accordance with this Section shall constitute an <br />original contractual obligation of the City and shall be entitled to the benefits and security of this Ordinance <br />to the same extent as the Certificate or Certificates in lieu of which such replacement Certificate is delivered. <br /> <br />Section 3.10. Book-Entry Only System. <br /> <br />(a) The definitive Certificates shall be initially issued in the form of a separate single fully <br />registered Certificate for each of the maturities thereof. Upon initial issuance, the ownership of each such <br />Certificate shall be registered in the name of Cede & Co., as nominee of DTC, and except as provided in <br />Section 3.11 hereof, all of the outstanding Certificates shall be registered in the name of Cede & Co., as <br />nominee ofDTC. <br /> <br />(b) With respect to Certificates registered in the name of Cede & Co., as nominee ofDTC, the <br />City and the Paying Agent/Registrar shall have no responsibility or obligation to any DTC Participant or to <br /> <br />R:\SANMARICO.IlO\DocsIFINAL\ORIlCO.WPD <br /> <br />11 <br />