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92-048 RES
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92-048 RES
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Last modified
12/3/2007 2:36:51 PM
Creation date
7/7/2005 3:26:45 PM
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City Government
type
RES
date
6/1/1992
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<br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />charge upon the owner thereof sufficient to <br />reimburse the Registrar for any tax, fee, or other <br />governmental charge required to be paid with <br />respect to such transfer or exchange. <br /> <br /> <br />(h) Mutilated. Lost. Stolen. or Destroyed Bonds. In <br />case any Bond shall become mutilated or be <br />destroyed, stolen or lost, the Registrar shall <br />deliver a new Bond of like amount, number, maturity <br />date, and tenor in exchange and substitution for <br />and upon cancellation of any such mutilated Bond or <br />in lieu of and in substitution for any such Bond <br />destroyed, stolen, or lost, upon the payment of the <br />reasonable expenses and charges of the Registrar in <br />connection therewith; and, in the case of a Bond <br />destroyed, stolen, or lost, upon filing with the <br />Registrar of evidence satisfactory to it that such <br />Bond was destroyed, stolen, or lost, and of the <br />ownership thereof, and upon furnishing to the <br />Registrar of an appropriate bond or indemnity in <br />form, substance, and amount satisfactory to it, in <br />which both the City and the Registrar shall be <br />named as obligees. All Bonds so surrendered to the <br />Registrar shall be cancelled by it and evidence of <br />such cancellation shall be given to the City. If <br />the mutilated, destroyed, stolen, or lost Bond has <br />already matured, it shall not 'be necessary to issue <br />a new Bond prior to payment. <br /> <br />2.04. Appointment of Initial Registrar. The City hereby <br />appoints First Trust National Association, .St. Paul, Minnesota, <br />as the initial Registrar. The Mayor and the Administrator are <br />authorized to execute and deliver, on behalf of the City, a <br />contract with said Registrar. Upon merger or consolidation of <br />the Registrar with another corporation, if the resulting <br />corporation is a bank or trust company authorized by law to <br />conduct such business, such corporation shall be authorized to <br />act as successor Registrar. The City agrees to pay the <br />reasonable and customary charges of the Registrar for the <br />services performed. The City reserves the right to remove the <br />Registrar upon thirty (30) days' notice and upon the appointment <br />of a successor Registrar, in which event the predecessor <br />Registrar shall deliver all cash and Bonds in its possession to <br />the successor Registrar and shall deliver the bond register to <br />the successor Registrar. <br /> <br />2.05. Optional Redemption. The Bonds will not be subject to <br />payment in advance of their respective maturity dates. <br /> <br />2.06. Execution. Authentication. and Delivery. The Bonds <br />shall be prepared under the direction of the Administrator and <br />shall be executed on behalf of the City by the signatures of the <br />Mayor and Administrator, provided that all signatures may be <br />printed, engraved, or lithographed facsimiles of the originals. <br /> <br />5 . <br />
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