Res. #14-038 - Accepting Proposal on the Sale of $1,385,000 G.O. Impr. Refunding Bonds, Series 2015A

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of the Bonds, whether the Bonds shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of or interest on such Bonds and for all other purposes, and all such payments so made to any such registered owners or upon the owners' order shall be valid and effectual to satisfy and discharge the liability of the City upon such Bonds to the extent of the sum or sums so paid. (f) Taxes, Fees and Charges. For every transfer or exchange of Bonds, the Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee, or other governmental charge required to be paid with respect to such transfer or exchange. (g) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond shall become mutilated or be lost, stolen, or destroyed, the Registrar shall deliver a new Bond of like amount, maturity dates and tenor in exchange and substitution for and upon cancellation of such mutilated Bond or in lieu of and in substitution for such Bond lost, stolen, or destroyed, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond lost, stolen, or destroyed, upon filing with the Registrar of evidence satisfactory to it that such Bond was lost, stolen or destroyed, and of the ownership thereof, and upon furnishing to the Registrar of an appropriate bond or indemnity in form, substance, and amount satisfactory to it, in which both the City and the Registrar shall be named as obligees. All Bonds so surrendered to the Registrar shall be canceled by it and evidence of such cancellation shall be given to the City. If the mutilated, lost, stolen, or destroyed Bond has already matured or been called for redemption in accordance with its terms, it shall not be necessary to issue a new Bond prior to payment. (h) Redemption. In the event the Bonds are called for redemption, if applicable, notice thereof will be given by the Registrar by mailing a copy of the redemption notice by first class mail (postage prepaid) not less than 30 days prior to the date fixed for redemption to the registered owner of the Bonds to be redeemed at the address shown on the registration books kept by the Registrar. Failure to give notice by publication or by mail to any registered owner, or any defect therein, will not affect the validity of any proceeding for the redemption of the Bonds. The Bonds when so called for redemption will cease to bear interest after the specified redemption date, provided that the funds for the redemption are on deposit with the Registrar at the place of payment at the time. Section 7. Execution, Authentication and Delivery. The Bonds shall be prepared under the direction of the Clerk of the City and shall be executed on behalf of the City by the manual signatures, or facsimile thereof, of its Mayor and Clerk. In case any officer whose signature, or a facsimile of whose signature, shall appear on the Bonds shall cease to be such officer before the delivery of the Bonds, such signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if such officer had remained in office until delivery. Notwithstanding such execution, the Bonds shall not be valid or obligatory for any purpose or entitled to any security or benefit under this Resolution unless and until a certificate of authentication on such Bonds has been duly executed by the manual signature of an authorized representative of the Registrar. Certificates of Authentication on different Bonds need not be signed by the same representative. The executed certificate of authentication on the Bond shall be conclusive evidence that it has been authenticated and delivered under this resolution. When 8