|
and, in the case of a Series 2021B Bond destroyed, stolen or lost, upon filing with the
<br /> Registrar of evidence satisfactory to the Registrar that the Series 2021B Bond was
<br /> destroyed, stolen or lost, and of the ownership thereof, and upon furnishing to the
<br /> Registrar an appropriate bond or indemnity in form, substance and amount satisfactory to
<br /> it and as provided by law, in which the City, the Commission, and the Registrar must be
<br /> named as obligees. Series 2021B Bonds so surrendered to the Registrar will be cancelled
<br /> by the Registrar and evidence of such cancellation must be given to the Commission. If
<br /> the mutilated, destroyed, stolen or lost Series 2021B Bond has already matured or been
<br /> called for redemption in accordance with its terms it will not be necessary to issue a new
<br /> Series 2021B Bond prior to payment.
<br /> 6.02. Appointment of Initial Registrar. The City appoints U.S. Bank National
<br /> Association, St. Paul, Minnesota, as the initial Registrar. The President and Secretary are
<br /> authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon
<br /> merger or consolidation of the Registrar with another corporation, if the resulting corporation is a
<br /> bank or trust company authorized by law to conduct such business, the resulting corporation is
<br /> authorized to act as successor Registrar. The City agrees to pay the reasonable and customary
<br /> charges of the Registrar for the services performed. The City reserves the right to remove the
<br /> Registrar upon 30 days' notice and upon the appointment of a successor Registrar, in which
<br /> event the predecessor Registrar must deliver all cash and Series 2021B Bonds in its possession to
<br /> the successor Registrar and deliver the bond register to the successor Registrar. On or before
<br /> each principal or interest due date, without further order of this Commission, there shall be
<br /> transmitted to the Registrar, from amounts on hand in the Debt Service Account available
<br /> therefore, an amount sufficient to pay all principal and interest then due on the Bonds.
<br /> 6.03. Initial Issue. The Series 2021B Bonds will be initially issued in the form of a
<br /> separate single typewritten or printed fully registered Series 2021 B Bond for each of the
<br /> maturities set forth in this Resolution. Upon initial issuance, the ownership of each such Series
<br /> 2021 B Bond will be registered in the registration books kept by the Registrar in the name of
<br /> Cede & Co., as nominee for The Depository Trust Company, New York, New York, and its
<br /> successors and assigns ("DTC"). Except as provided in this section, all of the outstanding Series
<br /> 2021B Bonds will be registered in the registration books kept by the Registrar in the name of
<br /> Cede& Co., as nominee of DTC.
<br /> 6.04. DTC. With respect to Series 2021B Bonds registered in the registration books
<br /> kept by the Registrar in the name of Cede & Co., as nominee of DTC, the City, the Registrar and
<br /> the Paying Agent will have no responsibility or obligation to any broker dealers, banks and other
<br /> financial institutions from time to time for which DTC holds Series 2021B Bonds as securities
<br /> depository (the "Participants") or to any other person on behalf of which a Participant holds an
<br /> interest in the Series 2021B Bonds, including but not limited to any responsibility or obligation
<br /> with respect to (i) the accuracy of the records of DTC, Cede & Co. or any Participant with
<br /> respect to any ownership interest in the Series 2021B Bonds, (ii) the delivery to any Participant
<br /> or any other person other than a registered owner of Series 2021B Bonds, as shown by the
<br /> registration books kept by the Registrar, of any notice with respect to the Series 2021B Bonds,
<br /> including any notice of redemption, or (iii) the payment to any Participant or any other person,
<br /> other than a registered owner of Series 2021B Bonds, of any amount with respect to principal of,
<br /> premium, if any, or interest on the Series 2021B Bonds. The City, the Registrar and the Paying
<br /> 10
<br /> EL185-68-707442 v4
<br />
|