Laserfiche WebLink
interest from such interest payment date, or unless at the time of authentication thereof interest is <br /> • in default thereon, in which event it shall bear interest from the date to which interest has been <br /> paid. <br /> Only such bonds as shall have endorsed thereon a Certificate of Authentication <br /> substantially in the form set forth in Section 5 hereof (the "Certificate") duly executed by the <br /> Trustee shall be entitled to any right or benefit under this Ordinance. No bond shall be valid and <br /> obligatory for any purpose unless and until the Certificate shall have been duly executed by the <br /> Trustee, and the Certificate of the Trustee upon any such bond shall be conclusive evidence that <br /> such bond has been authenticated and delivered under this Ordinance. The Certificate on any <br /> bond shall be deemed to have been executed if signed by an authorized officer of the Trustee, but <br /> it shall not be necessary that the same officer sign the Certificate on all of the bonds. <br /> In case any bond shall become mutilated or be destroyed or lost, the City shall, if <br /> not then prohibited by law, cause to be executed and the Trustee may authenticate and deliver a <br /> new bond of like date, maturity and tenor in exchange and substitution for and upon cancellation <br /> of such mutilated bond, or in lieu of and in substitution for such bond destroyed or lost,upon the <br /> owner paying the reasonable expenses and charges of the City and Trustee in connection <br /> therewith, and, in the case of a bond destroyed or lost, his filing with the Trustee evidence <br /> satisfactory to it that such bond was destroyed or lost, and of his ownership thereof, and <br /> furnishing the City and Trustee with indemnity satisfactory to them. The Trustee is hereby <br /> authorized to authenticate any such new bond. In the event any such bond shall have matured, <br /> instead of issuing a new bond, the City may pay the same without the surrender thereof. Upon <br /> • the issuance of a new bond under this Section, the City may require the payment of a sum <br /> sufficient to cover any tax or other governmental charge that may be imposed in relation thereto <br /> and any other expenses (including the fees and expenses of the Trustee) connected therewith. <br /> The City shall cause books to be maintained for the registration and for the <br /> transfer of the bonds as provided herein and in the bonds. The Trustee shall act as the bond <br /> registrar. Each bond is transferable by the registered owner thereof or by his attorney duly <br /> authorized in writing at the principal office of the Trustee. Upon such transfer a new fully <br /> registered bond or bonds of the same maturity, of authorized denomination or denominations, for <br /> the same aggregate principal amount will be issued to the transferee in exchange therefor. <br /> Bonds may be exchanged at the principal corporate trust office of the Trustee for <br /> an equal aggregate principal amount of bonds of any other authorized denomination or <br /> denominations. The City shall execute and the Trustee shall authenticate and deliver bonds <br /> which the registered owner making the exchange is entitled to receive. <br /> No charge shall be made to any owner of any bond for the privilege of transfer or <br /> exchange, but any owner of any bond requesting any such transfer or exchange shall pay any tax <br /> or other governmental charge required to be paid with respect thereto. Except as otherwise <br /> provided in the immediately preceding sentence, the cost of preparing each new bond upon each <br /> exchange or transfer and any other expenses of the City or the Trustee incurred in connection <br /> therewith shall be paid by the City. Neither the Trustee nor the City shall be required to transfer <br /> or exchange any bonds selected for redemption in whole or in part. <br /> 5 <br />