7.5. SR 03-15-2010 - Laserfiche WebLink

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~h} Mutilated,,Lost,,Stolen or Destroyed Bonds, If a Bond becomes mutilated ~. ~... . or is destroyed, stolen or lost, the Registrar will deliver a new Bond of lil~e amount, number, maturity date and tenor in exchange and substitution for and upon cancellation of the mutilated Bond or in lieu of and in substitution for any Bond destroyed, stolen or last, upon the payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in the case of a Bond destrayed, stolen or lost, upon filing with the Registrar of evidence satisfactory to it that the Bond was destroyed, stolen or last, and of the ownership thereof, and upon furnishing to the Registrar an appropriate bond or indemnity in form, substance and amount satisfactory to it and as provided by law, in which both the City and the Registrar must be named as obligees. Bands so surrendered t0 the Registrar will be cancelled by the Registrar and evidence of such cancellation must be given to the City. If the mutilated, destroyed, stolen or last Bond has already matured ar been called for redemption in accordance with its terms it is not necessary to issue a new Band prior to payment, ~i} Redemption. In the event any of the Bonds are called for redemption, notice thereof identifying the Bonds to be redeemed will be given by the Registrar by mailing a copy of the redemption notice by first class mail postage prepaid} to the registered owner of each Bond to be redeemed at the address shown on the registration books kept by the Registrar and by publishing the notice if required by law, Failure to give notice by publication or by mail to any registered owner, or any defect therein, will not affect the validity of the proceedings 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 redemption are on deposit with the place of payment at that time, 2.04. Appointment of Initial Registrar. The City appoints U.S. Bank National Association in St. Paul, Minnesota, as the initial Registrar, The 1Vlayor and the City Administrator are authorized to execute and deliver, on behalf of the City, a contract with the Registrar, Upon merger or consolidation of the Registrar with another corporation, if the resulting corporation is a bank or trust company authorized by law to conduct such business, the resulting corporation is authorized to act as successor Registrar, The City agrees to pay the reasonable and customary charges of the Registrar for the services performed. The City reserves the right to remove the Registrar upon 30 days' notice and upon the appointment of a successor Registrar, in which event the predecessor Registrar must deliver all cash and Bonds in its possession to the successor Registrar and must deliver the bond register to the successor Registrar. Cn or before each principal or interest due date, without further order of this Council, the Administrator must transmit to the Registrar moneys sufficient for the payment of all principal and interest then due. 2.05, Execution, Authentication and Delivery, The Bonds will be prepared under the direction of the City Administrator and executed on behalf of the City by the signatures of the Mayor and the City Administrator, provided that all signatures may be printed, engraved or lithographed facsimiles of the originals, If an officer whose signature or a facsimile of whose 3G51Z5v1 JSB EL185-11 7