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20071105 - VIII-C-1
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20071105 - VIII-C-1
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Registrar. Whenever any Bonds are so surrendered for exchange, the City shall execute (if <br />necessary), and the Bond Registrar shall authenticate, insert the date of registration of, and <br />deliver the Bonds which the Holder making the exchange is entitled to receive. <br />All Bonds surrendered upon any exchange or transfer provided for in this <br />resolution shall be promptly cancelled by the Bond Registrar and thereafter disposed of as <br />directed by the City. <br />All Bonds delivered in exchange for or upon transfer of Bonds shall be valid <br />general obligations of the City evidencing the same debt, and entitled to the same benefits under <br />this resolution, as the Bonds surrendered for such exchange or transfer. <br />Every Bond presented or surrendered for transferor exchange shall be duly <br />endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the Bond <br />Registrar, duly executed by the Holder thereof or his, her or its attorney duly authorized in <br />writing. <br />The Bond Registrar may require payment of a sum sufficient to cover any tax or <br />other governmental charge payable in connection with the transferor exchange of any Bond and <br />any legal or unusual costs regarding transfers and lost Bonds. <br />Transfers shall also be subject to reasonable regulations of the City contained in <br />any agreement with the Bond Registrar, including regulations which permit the Bond Registrar <br />to close its transfer books between record dates and payment dates. The Clerk is hereby <br />authorized to negotiate and execute the terms of said agreement. <br />11. Ri hg is Upon Transfer or Exchange. Each Bond delivered upon transfer of <br />or in exchange for or in lieu of any other Bond shall carry all the rights to interest accrued and <br />unpaid, and to accrue, which were carried by such other Bond. <br />12. Interest Payment; Record Date. Interest on any Bond shall be paid on <br />each Interest Payment Date by check or draft mailed to the person in whose name the Bond is <br />registered (the "Holder"} on the registration books of the City maintained by the Bond Registrar <br />and at the address appearing thereon at the close of business on the fifteenth (15th) day of the <br />calendar month next preceding such Interest Payment Date (the "Regular Record Date"). Any <br />such interest not so timely paid shall cease to be payable to the person who is the Holder thereof <br />as of the Regular Record Date, and shall be payable to the person who is the Holder thereof at <br />the close of business on a date (the "Special Record Date") fixed by the Bond Registrar <br />whenever money becomes available for payment of the defaulted interest. Notice of the Special <br />Record Date shall be given by the Bond Registrar to the Holders not less than ten (10) days prior <br />to the Special Record Date. <br />13. Treatment of Registered Owner. The City and Bond Registrar may treat <br />the person in whose name any Bond is registered as the owner of such Bond for the purpose of <br />receiving payment of principal of and premium, if any, and interest (subject to the payment <br />provisions in paragraph 12 above with respect to interest payment and record date) on, such <br />Bond and for all other purposes whatsoever whether or not such Bond shall be overdue, and <br />neither the City nor the Bond Registrar shall be affected by notice to the contrary. <br />2086247x1 15 <br />
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