2015 05-19 CC PACKET - Laserfiche WebLink

Home

f date and tenor in exchangc and: substitution for and upon cancellation. of the mutilated Bond or is [. lieu. of and. in substitution for any f30nd clestl-oyed, stolen or lust, upon the pit ymenE of tire. reasonable expenses and charges of the 17egistrar in ccitlliectiott therctiV ith: rutci, in the case of n riond destroved, stolen or lust, upoir filing With tide Registrar of evidence satisfactory to it tltitt the Bond was destroyed, stolen or lost, and of the owners.111p thereof anti upon furnishing to €he. Regi.Strar an Appropriate bondor indenmily in form, substance dndamount satisfactory to it -and as provided by law, in which both the City and. the RegiStrar•lr3Lltit be named as obl'igfJes. Iiolids 5o surrendered to .ih - Registrar will be eanc6led by the Regiso-ar and evidence. of such canccjlatiart rtfusl be given to the City. If the mutilated, destroyed, stolen or lost Bond 17as already matured or been called. for redemption ill accordance with its terms it is not geee:Ssary try issue a, iieiv Bond prior to payment.. (i) Redemption. In tile: event any oI- the .Bonds are.. called for redenilition, notice thereof identifying the l3onds to be redeemed will he given by the Registrar by mailing a cqw of .the redemption notice by first class mail (postage prepaid) to the registered owner of each Bond to be. redeemed at the address shoNI-+n tin the registration books kept .by the Registrar and by publishing the notice if required by lava. Failure to give notice by ptrbliChtirin or by mail to arly registered owlier, or any defect therein, will not affect the validity of any proceeding 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 redernpttiion are *an deposit with the Place Of payment at that tine. 2.04. Aupointnlept of Initial Registrar. The City appoints tl.S. Iqank National .Association, St; Paul., -Minnesota. as the lriitial Registrar. TIie Mayor and the City Administrator -Clerk are atithoril.ed to execale alul deliver, on behalf of the City, a contract with the Registrar. Upon Itterger or consolidation. of the Reg-istrar with another corporation, .if thi: resultiltg Corporation is a bank- or trust company authorized 1 r+ by law 10 Coliduct such .business,. the resLlltl11u, L orl)(]raLion is allthori'zed to aci .as successor Registrar. The. City agreesto pay the. reasonable and customary cltarges .of tfte Registrar 'for the services performed. The City reserves the right to remove the Registrar upon 3U days' notice arid. upon the appointment of successor Registrar; in which event the predecessor Registrar must deliver all cash and Bonds in its Possession to -the sticcessor.Regis.trar and mum .deliver the bond register to the successor Registrar. t)!t or before each principal or interest due date, without Furiher .order of this Council, the City Administrator - Clerk must transmit to the Registrar moneys sufficient for the Payment. of all principal and interest then due. 2.05. l ectition. ,-athel-IC aticin ttiid L)tyerv. The Bonds wth be prepared tinder the directit>n Of the City Administrator --Clerk and executed on behalf of the City by the signatures of the Mayor and the City Administrator -Clerk; provided that those signatures may be pr.inted,engraved or lithograplicd facsilAiies of.the originals: Man of-l'icer whose sibnattire -.or-a facsimile of whose signature.appciar:s on the Bonds ceases to be such officer b :gore the delivery of a Bond, that sigrjature:or facsiln.He wifl nevertheless be valid and sufficient for all purposes, the saute as if the officer hadremained in offlice until deliverv. Notwithstanding such e.xecution,. a Bond will not be valid or obligatory for any purpose or entitled to:arly se uritti' or benefitantler this resolution unless And rm it a ccitificate of authentication on the Bond has been dcil.v. executed .bv the manual signature of an authorized representative of the Registrar, Certificates of autilenric.ation on .diflcrem Bonds need* not be signed by the sartte representative. The executed certificate of.authentication .on a .Bond is conclusive.evidence that it has been authenticated and delivered fir &r this. resolution. When. the Bonds have been so prepared, executed and .authenticated; the City Administrator-Clett will :deliver .the sahle to tite Purchaser upon. pa}micnt of the purchase price in accordance with -the dontract of sate heretofore.made.and executed, and the Purchasci. is not obligalod to see to the applicaticin of the purchase price.. »b.tZ<MBell"Gt 190-12