1990 Rec./Disb./Resolutions & Minutes

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. (0) Exo~e of Bonds. Whenever any Bonds are surrendered by the repstered owner or exchanp the I.estatrar shall authenticate and deliver one or more new Bonds of a like agrepteprlncipal amount and maturity, as requested ,by the restatered owner or the owner's attorney in writing. (d) Cancellation. All Bonds sul"l'endered upon any ,transfer or exchange shall be promptly cancelled by the Reststrar and thereafter disposed of as directed by the City. (e) Improper or Unauthorized Transfer. When any Bond is presented to the I.eststrar for transfer, the I.ectstrar. may refuse to transfer the same until it Is satisfied that the endorsement on such Bond or separate instrument of transfer Is valid and genuine and that the requested transfer is legally authorized. The Registrar shall incur no liability for the refusal, in good faith, to make transfers which It, in its judgment, deems improper or unauthorized. (f) Persons Deemed Owners. The City and the Registrar may treat the person In whose name any Bond Is at any time registered in the bond register as the absolute owner of such Bond, whether such Bond shall be overdue or not, for the purpose of receiving payment of, or on account of, the principal of and interest on such Bond and for all other purposes, and all such payments so made to any such registered owner or upon the owner's order shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. (I) 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. (h) Mutilated, Lost, Stolen or Destroved Bonds. In case any Bond shall become mutUated or be destroyed, stolen or lost, the Registrar shall deli,ver a new Bond of like amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of any such mutilated Bond or in lieu of and In substitution for any such Bond destroyed, stolen or lost, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that such Bond was destroyed, stolen or lost, 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 cancelled by it and evidence of such caneeDation shall be stven to the City. If the mutilated, destroyed, stolen or lost Sandhu 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. (t) Redemption. In the event the Bonds are called for redemption, notice thereof will be given by the Registrar bymalltng a copy of the redemption notice by first class mail (postage prepaid) not more than 120 and not less than 90 days prior to the date flxedfor redemption to the registered owner of the Bonds to be redeemed at the address shown on the reststratlon books kept by the Registrar. 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 place of payment at that time.