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2000-11-08 Packet
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2000-11-08 Packet
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to the Registrar will be cancelled by the Registrar and evidence of such cancellation must <br /> be given to the City. If the mutilated, destroyed, stolen or lost Bond has already matured <br /> or been called for redemption in accordance with its terms it is not necessary to issue a <br /> new Bond prior to payment. <br /> (i) Redemption. In the event any of the Bonds are called for redemption, <br /> notice thereof identifying the Bonds to be redeemed will be given by the Registrar by <br /> mailing a copy of the redemption notice by first class mail (postage prepaid) to the <br /> registered owner of each Bond to be redeemed at the address shown on the registration <br /> books kept by the Registrar and by publishing the notice if required by law. Failure to <br /> give notice by publication or by mail to any registered owner, or any defect therein, will <br /> not affect the validity of the proceedings for the redemption of Bonds. Bonds so called <br /> for redemption will cease to bear interest after the specified redemption date, provided <br /> that the funds for the redemption are on deposit with the place of payment at that time. <br /> 2.04. Appointment of Initial Registrar. The City appoints U.S. Bank Trust National <br /> Association, St. Paul, Minnesota, as the initial Registrar. The Mayor and the City Administrator <br /> are authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon <br /> merger or consolidation of the Registrar with another corporation, if the resulting corporation is a <br /> bank or trust company authorized by law to conduct such business, the resulting corporation is <br /> authorized to act as successor Registrar. The City agrees to pay the reasonable and customary <br /> charges of the Registrar for the services performed. The City reserves the right to remove the <br /> Registrar upon 30 days' notice and upon the appointment of a successor Registrar, in which event <br /> the predecessor Registrar must deliver all cash and Bonds in its possession to the successor <br /> Registrar and must deliver the bond register to the successor Registrar. On or before each <br /> principal or interest due date, without further order of this Council, the City Administrator must <br /> transmit to the Registrar monies sufficient for the payment of all principal and interest then due. <br /> 2.05. Execution, Authentication and Delivery. The Bonds will be prepared under the <br /> direction of the City Administrator and executed on behalf of the City by the signatures of the <br /> Mayor and the City Administrator, provided that those signatures may be printed, engraved or <br /> lithographed facsimiles of the originals. If an officer whose signature or a facsimile of whose <br /> signature appears on the Bonds ceases to be such officer before the delivery of a Bond, that <br /> signature or facsimile will nevertheless be valid and sufficient for all purposes, the same as if the <br /> officer had remained in office until delivery. Notwithstanding such execution, a Bond will not <br /> be valid or obligatory for any purpose or entitled to any security or benefit under this Resolution <br /> unless and until a certificate of authentication on the Bond has been duly executed by the manual <br /> signature of an authorized representative of the Registrar. Certificates of authentication on <br /> different Bonds need not be signed by the same representative. The executed certificate of <br /> authentication on a Bond is conclusive evidence that it has been authenticated and delivered <br /> under this Resolution. When the Bonds have been so prepared, executed and authenticated, the <br /> City Administrator will deliver the same to the Purchaser upon payment of the purchase price in <br /> accordance with the contract of sale heretofore made and executed, and the Purchaser is not <br /> obligated to see to the application of the purchase price. <br /> SJB- 185311v1 <br /> CE155 -16 <br />
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