|
<br /> 13M
<br /> have the characteristics, (vi) shall be signed and sealed, and (yii) shall be payable as to principal and interest, all
<br /> as provided, and in the manner required or indicated, in the Fonn of Bonds set forth in this Ordinance.
<br /> Section 3.08. Temporary Bonds.
<br />
<br /> (a) Follo'\.\ing the delivery and registration of the Initial Bonds and pending the preparation of
<br /> defmitive Bonds, the proper officers of the City may execute and, upon the City's request, the Paying
<br /> Agent/Registrar shall authenticate and deliver, one or more temporary Bonds that are print~d, lithographed,
<br /> type\vritten, nùrneographed or otherwise produced, in any denomination, substantially of the tenor of the
<br /> definitive Bonds in lieu of which they are delivered, without coupons, and ,vith such appropriate insertions,
<br /> - omissions, substitutions and other variations as the officers of the City executing such temporary Bonds may
<br /> detennine, as evidenced by their signing of such temporary Bonds.
<br /> (b) Until exchanged for Bonds in defmitive fonn, such Bonds in temporary fonn shall be entitled
<br /> to the benefit and security of this Ordinance.
<br /> (c) The City, without unreasonable delay, shall prepare, execute and deliver to the Paying
<br /> Agent/Registrar the Bonds in defmitive fonn; thereupon, upon the presentation and surrender of the Bond or
<br /> Bonds in temporary fonn to the Paying Agent/Registrar, the Paying Agent/Registrar shall cancel the Bonds in
<br /> temporary fonn and authenticate and deliver in exchange therefor a Bond or Bonds of the same maturity and
<br /> series, in defmitive fonn, in the authorized denomination, and in the same aggregate principal amount, as the
<br /> Bond or Bonds in temporary fonn surrendered. Such exchange shall be made without the making of any charge
<br /> therefor to any Owner.
<br /> .
<br /> Section 3.09. Replacement Bonds.
<br />
<br /> (a) Upon the presentation and surrender to the Paying Agent/Registrar, at the Designated
<br /> Payment/Transfer Office, of a mutilated Bond, the Paying Agent/Registrar shall authenticate and deliver in
<br /> exchange therefor a replacement Bond of like tenor and principal amount, bearing a number not
<br /> contemporaneously outstanding. The City or the Paying Agent/ Registrar may require the O'\.\l1er of such Bond
<br /> to pay a sum sufficient to cover any ta.x or other governmental charge that is authorized to be imposed in
<br /> connection therewith and any other expenses connected herewith.
<br /> (b) In the event that any Bond is lost, apparently destroyed or wrongfully taken, the Paying
<br /> AgentJRegistrar, pursuant to the applicable laws of the State ófTexas and in the absence of notice or knowledge
<br /> that such Bond has been acquired by a bona fide purchaser, shall authenticate and deliver a replacement Bond
<br /> of like tenor and principal amount, bearing a number not contemporaneously outstanding, provided that the
<br /> O,vl1er fIrst:
<br /> (i) furnishes to the Paying Agent/Registrar satisfactory evidence of his or her ownership
<br /> of and the circumstances of the loss, destruction or theft of such Bond;
<br /> (ii) furnishes such security or indemnity as may be required by the Paying Agent/Registrar
<br /> and the City to save them harmless;
<br /> (iii) pays all expenses and charges in connection therewith, including, but not limited to,
<br /> printing costs, legal fees, fees of the Paying Agent/Registrar and any ta.x or other governmental charge
<br /> that is authorized to be imposed; and
<br /> "'1.""-""""',,",",,- 9<C DOCIORDNŒFN 9
<br />
|