Ord 1995-047 - Laserfiche WebLink

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330 - a substitute Band ar Bands having the same maturity date, bearing interest at the same rate, in the denaminatian ar denaminatians af any integral multiple af $5,000 at the request af the registered Gwner, and in an aggregate principal amount equal to' the unredeemed portian thereaf, will be issued to' the registered awner upan surrender thereaffar cancellatian. To the extent passible, a new Band ar Bands shall be delivered by the Paying Agent/Registrar to' the registered awner afthe Band ar Bands in nat mare than three business days after receipt afthe Band to' be exchanged in proper form and with praper instructians directing such exchange. (d) Each Band issued in exchange far any Band ar partian thereaf assigned, transferred ar canverted shall have the same principal maturity date and bear interest at the same rate as the Band far which it is being exchanged. Each substitute Band shall bear a letter and/ar number to' distinguish it fram each ather Band. The Paying Agent/Registrar shall canvert and exchange the Bands as provided herein, and each substitute Band delivered in accardance with this Sectian shall canstitute an ariginal cantractual abligatian afthe City and shall be entitled to' the benefits and security afthis Ordinance to' the same extent as the Band ar Bands in lieu afwhich such substitute Bond is delivered. (e) The City will pay the Paying Agent/Registrar's reasanable and custamary charge far the initial registratian ar any subsequent transfer, exchange ar canversian afBands, but the Paying Agent/Registrar will require the Owner to pay a sum sufficient to' caver any tax ar ather gavernmental charge that is autharized to' be impased in cannectian with the registratian, transfer, exchange ar canversian af a Band. In additian, the City hereby cavenants with the Ownefs afthe Bands that it will (i) pay the reasanable and standard ar custamary fees and~ charges af the Paying Agent/Registrar far its services with respect to' the payment af the principal af and interest an the Bonds, when due, and (ii) pay the fees and charges afthe Paying Agent/Registrar far services with respect to' the transfer, registratian, canversian and exchange of Bands as provided herein. (t) Neither the City nar the Paying Agent/Registrar shall be required to transfer ar exchange any Band called far redemptian, in whole or in part, within 45 days of the date fixed for redemptian; provided, hawever, such limitation shall not be applicable to an exchange by the Owner af the uncalled balance of a Bond. Section 3.07. Cancellatian and Authenticatian: (a) All Bonds paid or redeemed before scheduled maturity in accardance with this Ordinance, and all Bands in lieu of which exchange Bands or replacement Bands are authenticated and delivered in accordance with this Ordinance, shall be cancelled and destroyed upan the making af praper records regarding such payment, redemptian, exchange ar replacement. The Paying Agent/Registrar shall periadically furnish the City with certificates of destruction of su<?h Bands. (b) Each substitute Band issued pursuant to' the provisions of Sectians 3.06 and 3.09 of this Ordinance, in canversion of and exchange far ar replacement of any Band ar Bands issued under this Ordinance, shall have printed therean a Paying Agent/Registrar's Authentication Certificate, in the form hereinafter set forth. An autharized representative of the Paying Agent/Registrar shall, before the delivery of any such Band, manually sign and date such Certificate, and nO' such Band shall R:.\SA."IMAlt',WWSSRUJ\DOCS".oP.DNCE.O:7,.t. t ,F 10