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2018 06-19 CC PACKET
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2018 06-19 CC PACKET
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2/25/2026 4:00:57 PM
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1/8/2026 7:20:34 AM
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Administration
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adm 00500
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AGENDA PACKETS
Destruction
PERMANENT
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reasonable expenses and charges of the Registrar in connection. therewith;. and, in the case of a <br />Bond destroyed, stolen or lost, upon filing with the Registrar of:evidence sad sfactory: to it that the <br />Bond .was destroyed, stolen or lost, and of the :ownership :thereof, and upon. furnishingto the <br />Registrar an. appropriate bond or indemnity in form, substance and amount satisfactory to it and as <br />provided by law, in which. both the: City and the Registrar must be named. as obligees.. Bonds so <br />surrendered to.the Registrar will be cancelled by the Registrar and evidence of such cancellation <br />must -be given to the City, If the mutilated, destroyed, stolen or lost Bond has already matured oz- <br />been called for redemption in :accordance. with its terms it is not necessary to issue anew Bond prior <br />to payment. <br />(i) Redemption. In the event any of the Bonds are .called for redemption, notice <br />thereof identifying the Bonds to be. redeemed will be given by the Registrar by mailing a copy of the <br />redemption notice: by first class mail (postage prepaid) to. the: registered owner of each Bond'to be <br />redeemed at the address shown on the registration books kept by the Registrar and by publishing the <br />notice if required by law: Failure to give notice by publication or by mail to any registered owner, <br />or any defect therein, will not .affect the validity of the proceedings: for the redemption of Bonds. <br />Bonds so called for redemptioni will cease to bear interest after the specified: redemption date, <br />provided that the funds for the redemption are on deposit with the. place of payment at that time. <br />104. Appointment of _Initial Registrar.. The City appoints Bond Trust Sot -vices Corporation, <br />Roseville, Minnesota, as the initial Registrar. The Mayor and the..City Clerk are authorized to execute.and <br />deliver, on behalf of the City, a contract with the Registrar. Upon merger or consolidation of the Registrar <br />with another corporation, if the resulting corporation is a bank. or trust company authorized by law to <br />conduct such .business, the resulting. corporation is authorized to act as successor Registrar. The. City agrees <br />to pay. the.. reasonable and customary charges of the. Registrar for the services performed. The City reserves <br />the right to remove the .Registrar upon thirty. (30) days' .notice. and. upon the appointment of,a successor <br />Registrar,. in which event the predecessor Registrar must deliver all cash and Bonds in its possession to the <br />successor 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: Treasurer transmit to the <br />Registrar moneys 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 direction of <br />the :City Clerk and. executed on behalf of the .City by the signatures of the Mayor and the City Clerk, <br />provided that those signatures may be printed, engraved or lithographed facsimiles. of the originals. If an <br />officer whose signature. or a facsimile of whose signature appears on the Bonds ceases to be such officer <br />before the delivery of a Bond, that signature or facsimile will nevertheless be valid and sufficient for all <br />purposes, the same as if the officer had remained in office::until .delivery.. Notwithstanding such execution, a <br />Bond will not . be valid or obligatory for any purpose or entitled to any security or benefit. under .this <br />resolution.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 different Bonds <br />need not be signed by the. same. representative. The executed certificate of authentication on a. Bond .is <br />conclusive evidence that it has been authenticated and delivered under this resolution. When the Bonds <br />have been so prepared; executed and authenticated, the City Clerk. will deliver the same to. the. Purchaser <br />upon payment of the purchase price in accordance with the contract of sale heretofore made. and .executed, <br />and the. Purchaser is not obligated to. see to .the application of the.purchase.:price-. <br />2.06. Temporary.Bonds. The City may elect to deliver in lieu of printed definitive Bonds one or <br />more typewritten temporary Bonds. in substantially the form.set forth in .EXIIIBIT B attached Hereto with <br />such changes: as may be necessary to. reflect more than .one: maturity in a. single: temporary bond. Upon the <br />execution and delivery of definitive Bonds the temporary Bonds will be exchanged therefor and cancelled. <br />526486v1 GAFGF190-14 <br />
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