2007-11 Awarding the Sale of GO Bonds

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cancellation of the:inutilated Bond or in. lieu of and -in substitution for a Bond destroyed, stolen: or lost, upon the payment of the reasonable expensos 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 the Bond was destroyed, stolen or lost, and of the ownership thereof, and upori finishing to the Registrar of an appropriate bond or*indemnity- in form., substance and amount satisfactory to it and -as provided by law, : in which both the City and the. Registrar must be named as obligees. The Bond -so surrendered to the Registrar will. be cancelled by the Registrar and evidence of such cancellation must be given to the City. If. the -mutilated, destroyed, stolen or lost Bond. has. already matured or been called for.redemptio'h in accordanc6 with its ternis it is not necessary to issue 'a new Bond prior to payment. (i) Redemption. In the event any of the Bonds are called for redemption, notice thereof identifying the Bonds to be. redeem. will. be given by the. Registrar by mailing a copy of the rederription notide by first -class. mail (postage prepaid) to the- registered ' owner of each Bored to be redeemed at the address shown on the registration books kept by the Registrar and-by,publishing the. notice if required by law. Failure to give notice by publication or by mail to any registered owner, or any defect therein, `will not.affect the validity .of.the proceedings for the redemption of Bonds. Bonds 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. 3.04. Appointment of Initial Re ig strar. The City appoints Band Trust Services Corporation, Roseville, Minnesota, as the initial Registrar. The Mayor and the City Clerk are authorized to execute and deliver, on behalf -of the City, a contract with the Registrar. Upon merger or consolidation o£ the Registrar with another corporation, if the resulting corporation is A. bank or trust company authorized bylaw to conduct such business, the resulting corporatioti-is. authorized to: act as successor Registrar. The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remove the Registrar upon 30- days' notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar must deliver all cash and Bonds in its possession to the successor Registrar and must deliver the bond register to the successor Registrar. 0# or before each. principal or interest due date, without further order . of thus Council, the. City Treasurer must. transmit to the Registrar monies sufficient for the payment of all principal and'interest then due. .3.05. Execution, Authentication and Delivery: The. Bonds -will *be prepared under the direction of the City Clerk .and executed on behalf of the City by the signatures bf the -Mayor and the City Clerk, .provided -that those. signatures -.may be 'printed, engraved. or lithographed facsimiles of the originals: If an officer whose signature or a facsimile of whose signature. appears. on the Bonds ceases to be such officer before the delivery of -a-Bond, that signature or facsimile will nevertheless be valid and sufficient: for all purposes, the same as. -if the officer had remained in office until delivery. Notwithstanding such execution, a.Baad will not be valid or obligatory for any purpose or entitled to any security or benefit wade= this Resolution unless and until a cerfificate of authentication on the Bond has been duly executed by the manual signature of an.authorized representative of the Registrar.. Certificates of authentication on different Bonds: 310975vl MNI GE1.904 6