Laserfiche WebLink
<br /> and denominations. If such written instructions are not received <br /> within the specified time period, the cancellation of the Initial <br /> Bond and delivery of definitive Bonds in exchange therefor may be <br /> delayed until such instructions are received. <br /> Section 3.05. Ownership. <br /> <br /> (a) The City, the Paying Agent/Registrar and any other <br /> person may treat the person in whose name any Bond is registered as <br /> the absolute owner of such Bond for the purpose of making and <br /> receiving payment of the principal thereof and premium, if any, <br /> thereon, for the further purpose of making and receiving payment of <br /> the interest thereon (subject to the provisions herein that interest <br /> is to be paid to the person in whose name the Bond is registered on <br /> the Record Date), and for all other purposes, whether or not such <br /> Bond is overdue, and neither the City nor the Paying Agent/Registrar <br /> shall be bound by any notice or knowledge to the contrary. <br /> (b) All payments made to the person deemed to be the owner <br /> of any Bond in accordance with this Section shall be valid and <br /> effectual and shall discharge the liability of the City and the <br /> Paying Agent/Registrar upon such Bond to the extent of the sums paid. <br /> Section 3.06. Reqistration, Transfer and Exchanqe. <br /> <br /> (a) So long as any Bonds remain outstanding, the City shall <br /> cause the Paying Agent/Registrar to keep at its principal corporate <br /> office a register (the "Register") in which, subject to such <br /> reasonable regulations as it may prescribe, the Paying <br /> Agent/Registrar shall provide for the registration and transfer of <br /> Bonds in accordance with this Ordinance. <br /> (b) Registration of any Bond may be transferred in the <br /> Register only upon the presentation and surrender thereof at the <br /> principal corporate office of the Paying Agent/Registrar for <br /> transfer of registration and cancellation, together with proper <br /> written instruments of assignment, in form and with guarantee <br /> of signatures satisfactory to the Paying Agent/Registrar, evidencing <br /> assignment of the Bonds, or any portion thereof in any integral <br /> mul tiple of $5,000, to the assignee or assignees thereof, and the <br /> right of such assignee or assignees thereof to have the Bond or any <br /> portion thereof registered in the name of such assignee or <br /> assignees. No transfer of any Bond shall be effective until entered <br /> in the Register. Upon assignment and transfer of any .Bond or <br /> portion thereof, a new Bond or Bonds will be issued by the Paying <br /> Agent/Registrar in conversion and exchange for such transferred and <br /> assigned Bond. To the extent possible the Paying Agent/Registrar <br /> will issue such new Bond or Bonds in not more than three business <br /> days after receipt of the Bond to be transferred in proper form and <br /> with proper instructions directing such transfer. <br /> 4l72f <br /> -8- <br />