ERMU RES 16-7 - Laserfiche WebLink

Home Browse Search

Series 2016B Bonds and the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Series 2016B Bonds. Upon surrender to the Registrar for transfer of any Series 2016B Bond, duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner in writing, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Series 2016B Bonds of a like aggregate principal amount and maturity, as requested by the transferor. The Registrar shall not be obligated to transfer or exchange any Series 2016B Bond which has been selected for redemption. (c) Exchange of Series 2016B Bonds. Whenever any Series 2016B Bond is surrendered by the registered owner for exchange, the Registrar shall authenticate and deliver one or more new Series 2016B Bonds of alike aggregate principal amount and maturity, as requested by the registered owner or the owner's attorney duly authorized in writing. (d) Cancellation. All Series 2016B Bonds surrendered upon any transfer or exchange shall be promptly canceled by the Registrar and thereafter disposed of as directed by the City. (e) Improper or Unauthorized Transfer. When any Series 2016B Bond is presented to the Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement on such Series 2016B Bond or separate instrument of transfer is legally authorized. The Registrar shall incur no liability for its 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 Series 2016B Bond is at any time registered in the Bond Register as the absolute owner of such Series 2016B Bond,whether such Series 2016B Bond shall be overdue or not, for the purpose of receiving payment of, or on account of,the principal of and interest on such Series 2016B 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 of the City upon such Series 2016B Bond to the extent of the sum or sums so paid. (g) Taxes Fees and Charges. For every transfer or exchange of Series 2016B Bonds (except for an exchange upon a partial redemption of a Series 2016B Bond), the Registrar may impose upon the owner thereof a charge 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 Destroyed Series 2016B Bonds. In case any Series 2016B Bond shall become mutilated or be lost, stolen or destroyed, the City shall execute and the Registrar shall authenticate and deliver a new Series 2016B Bond of the 8 479283v3 JSB EL185-42