Ord 1996-085 - Laserfiche WebLink

Home Browse Search

, (7;A. have the characteristics, (vi) shall be signed and sealed, and (vii) shall be payable as to principal and interest, all as provided, and in the manner required or indicated, in thëForm of Bonds set forth in this Ordinance. Section 3.08. Temporary Bonds. (a) Following the delivery and registration of the Initial Bonds and pending the preparation of definitive Bonds, the proper officers of the City may execute and, upon the City's request, the Paying Agent/Registrar shall authenticate and deliver, one or more temporary Bonds that are printed, lithographed, typewritten, mimeographed or otherwise produced, in any denomination, substantially of the tenor of the defmitive Bonds in lieu of which they are delivered, without coupons, and with such appropriate insertions, .-- omissions, substitutions and other variations as the officers of the City executing such temporary Bonds may determine, as evidenced by their signing of such temporary Bonds. (b) Until exchanged for Bonds in definitive form, such Bonds in temporary form shall be entitled to the benefit and security of this Ordinance. (c) The City, without unreasonable delay, shall prepare, execute and deliver to the Paying Agent/Registrar theBonds in definitive form; thereupon, upon the presentation and suaender of the Bond or Bonds in temporary form to the Paying AgentJRegistrar, the Paying AgentJRegistrar shall cancel the Bonds in temporary form and authenticate and deliver in exchange therefor a Bond or Bonds of the same maturity and series, in defmitive form, in the authorized denomination, and in the same aggregate principal amolU1t, as the Bond or Bonds in temporary form suaendered. Such exchange shall be made without the making of any charge therefor to any Owner. Section 3.09. Replacement Bonds. . (a) Upon the presentation and suaender to the Paying AgentJRegistrar, at the Designated PaymentJTransfer Office, of a mutilated Bond, the Paying AgentJRegistrar shall authenticate and deliver in exchange therefor a replacement Bond of like tenor and principal amount, bearing a number not contemporaneously outstanding. The City or the Paying Agent! Registrar may require the Ovmer of such Bond to pay a sum sufficient to cover any ta.x or other governmental charge that is authorized to be imposed in connection therewith and any other expenses connected herewith. (b) In the event that any Bond is lost, apparently destroyed or wrongfully taken, the Paying Agent/Registrar, pursuant to the applicable laws of the State of Texas and in the absence of notice or knowledge that such Bond has been acquired by a bona fide purchaser, shall authenticate and deliver a replacement Bond of like tenor and principal amolU1t, bearing a number not contemporaneously outstanding, provided that the O'VltTIer first: (i) furnishes to the Paying AgentJRegistrar satisfactory evidence of his or her ownership of and the circumstances of the loss, destruction or theft of such Bond; (ii) furnishes such security or indemnity as may be required by the Paying AgentJRegistrar and the City to save them harnùess; (iii) pays all expenses and charges in connection therewith, including, but not linùted to, printing costs, legal fees, fees of the Paying Agent/Registrar and any ta.x or other governmental charge that is authorized to be imposed; and ... UAN><A>. \ wwn ""\DOCS'oO ItDN ŒFN 9