5.3. SR 02-06-2006 - Laserfiche WebLink

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affected registered holder of the Series 2006A Bonds at least thirty days prior to the date fixed for redemption. To effect a partial redemption of Series 2006A Bonds having a common maturity date, the Bond Registrar prior to giving notice of redemption shall assign to each Series 2006A Bond having a common maturity date a distinctive number for each $5,000 ofthe principal amount of such Series 2006A Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers so assigned to such Series 2006A Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount of such Series 2006A Bonds to be redeemed. The Series 2006A Bonds to be redeemed shall be the Series 2006A Bonds to which were assigned numbers so selected; provided, however, that only so much of the principal amount of each such Series 2006A Bond of a denomination of more than $5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If a Series 2006A Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the City, the Commission or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the City, the Commission and the Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly authorized in writing) and the City and the Commission shall execute (if necessary) and the Bond Registrar shall authenticate and deliver to the Holder of the Series 2006A Bond, without service charge, a new Series 2006A Bond or Series 2006A Bonds having the same stated maturity and interest rate and of any Authorized Denomination or Denominations, as requested by the Holder, in aggregate principal amount equal to and in exchange for the unredeemed portion of the principal of the Series 2006A Bond so surrendered. 5.04. Application of Proceeds. Immediately upon delivery ofthe Series 2006A Bonds to the Purchaser, the amount received as accrued interest on the Series 2006A Bonds shall be credited to the Debt Service Account and the remaining proceeds shall be deposited in the Construction Account and used to pay costs of issuance of the Series 2006A Bonds and costs of the Project, as provided in Section 13. Section 6. Registration; Appointment of Registrar; Book-Entrv System. 6.01. Registration. The City, by the Commission, shall appoint, and shall maintain, a bond registrar, transfer agent and paying agent (the Registrar). The effect of registration and the rights and duties of the City and the Registrar with respect thereto shall be as follows: (a) Register. The Registrar shall keep at its principal corporate trust office a Bond Register in which the Registrar shall provide for the registration of ownership of Series 2006A Bonds and the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Series 2006A Bonds. Upon surrender to the Registrar for transfer of any Series 2006A 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 2006A Bonds of a like 1861915vl 15