Ord 2007-036 - Laserfiche WebLink

Home Browse Search

incontestable, and enforceable m the same manner and with the same effect as the Initial Bond which was originally delrvered pursuant to this Ordinance, approved by the Attorney General, and registered by the Comptroller of Public Accounts (c) Bonds issued m conversion and exchange or replacement of any other Bond or portion thereof, (i) shall be issued m fully registered form, without interest coupons, with the principal of and interest on such Bonds to be payable only to the registered owners thereof, (ii) may be transferred and assigned, (ui) may be converted and exchanged for other Bonds, (iv) shall have the characteristics, (v) shall be signed and sealed, and (vi) shall be payable as to principal of and interest, all as provided, and m the manner required or indicated, m the Form of Bonds set forth m this Ordinance Section 3 08 Replacement Bonds (a) Upon the presentation and surrender to the Paying Agent/Registrar, at the Designated Payment/Transfer Office, of a mutilated Bond, the Paying Agent/Registrar shall authenticate and deliver m exchange therefor a replacement Bond of like tenor and principal amount, bearing a number not contemporaneously outstanding. The Crty or the Paying Agent/ Registrar may require the Owner of such Bond to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be imposed m connection therewith and any other expenses connected therewith. (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 delver a replacement Bond of like tenor and principal amount, bearing a number not contemporaneously outstanding, provided that the Owner first: (i) furnishes to the Paying Agent/Registrar 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 Agent/Registrar and the City to save them harmless, (ui) pays all expenses and charges m connection therewith, including, but not limited to, printing costs, legal fees, fees of the Paying Agent/Registrar and any tax or other governmental charge that is authorized to be imposed, and (iv) satisfies any other reasonable requirements imposed by the Crty and the Paying Agent/Registrar (c) If, after the delivery of such replacement Bond, a bona fide purchaser of the original Bond in lieu of which such replacement Bond was rssued presents for payment such original Bond, the City and the Paying Agent/Registrar shall be entitled to recover such replacement Bond from the person to whom rt was delivered or any person taking therefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the Crty or the Paying Agent/Registrar m connection therewith. San Mazcos GO 2007 Ordinance 1