Ord 1996-038 - Laserfiche WebLink

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9K (b) AIl payments made to the person deemed tCl..be the Owner of any Bond in accordance \vith this Section shall be valid and effectual and shall discharge the liability of the City and the Paying Agent/Registrar upon such Bond to the extent of the sums paid. Section 3.06. Re?istration. Transfer and Exchange. (a) So long as any Bonds remain outstanding, the City shall cause the Paying Agent/Registrar to keep at the Designated Payment/Transfer Office a register (the "Register") in which, subject to such reasonable regulations as it may prescnoe, the Paying Agent/Registrar shall provide for the registration and transfer of Bonds ¡- in accordance with this Ordinance. i (b) Registration of any Bond may be transferred in the Register only upon the presentation and -- surrender thereof at the Designated Pa~mentffransfer Office for transfer of registration and cancellation, together with proper vvTÌtten instruments of assignment, in fann and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of the Bonds, 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 Bond or any portion thereofregis~ered in the name of such assignee or assignees. No transfer of any Bond shall be effective until entered in the Register. Upon assignment and transfer of any Bond or portion thereof, a new Bond or Bonds will be issued by the Paying AgentJRegistrar in conversion and exchange for such transferred and assigned Bond. To the extent possible the Paying Agent/Registrar will issue such new Bond or Bonds in not more than three business days after receipt of the Bond to be transferred in proper fonn and with proper instructions directing such transfer. (c) Any Bond may be converted and exchanged only upon the presentation and surrender thereof at the Designated Paýment/Transfer Office, together with a \vTÌtten request therefor duly executed by the registered owner or assignee or assignees thereof, or its or their duly authorized attorneys or representatives, \vith guarantees of signatures satisfactory to the Paying AgentlRegistrar, for a Bond or Bonds of the same maturity and interest rate and in any authorized denomination and in an aggregate principal amount equal to the unpaid principal ammmt of the Bond presented for exchange. If a portion of any Bond is redeemed prior to its scheduled maturity as provided herein, a substitute Bond or Bonds 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 O\yl1er, and in an aggregate principal amount equal to the unredeemed portion thereof, will be issued to the registered O\\l1er upon surrender thereof for cancellation. To the extent possible, a new Bond or Bonds shall be , delivered by the Paying AgentlRegistrar to the registered o\-yner of the Bond or Bonds in not more than three business days after receipt of the Bond to be exchanged in proper fonn and with proper instructions directing such exchange. (d) Each Bond issued in exchange for any Bond or portion thereof assigned, transferred or converted shall have the same principal maturity date and bear interest at the same rate as the Bond for which it is being exchanged. Each substitute Bond shall bear a letter and/or number to distinguish it from each other Bond. The Paying Agent/Registrar shall convert and exchange the Bonds as provided herein, and each substitute Bond delivered in accordance with this Section shall constitute an original contractual obligation of the City and shall be entitled to the benefits and security of this Ordinance to the same extent as the Bond or Bonds in lieu of wruch such substitute Bond is delivered. - (e) The City will pay the Paying AgentlRegistrar's reasonable and customary charge for the initial registration or any subsequent transfer, exchange or conversion of Bonds, but the Paying AgentlRegistrar will require the Ov,l1er to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be ~:I3MUAR\WWS1'=RDNCE:FN 7 )