HomeMy WebLinkAbout0116_0008assignee or assignees thereof,- and (ii) the right of such
assignee or assignees to have the Certificate of Obligation or
any such portion thereof registered in the name of such
assignee or assignees.. Upon the assignment and transfer of
any Certificate of Obligation or any portion thereof, a new
substitute Certificate of Obligation or Certificates of
Obligation shall be issued in conversion and exchange therefor
in the manner herein provided. The Initial Certificate of
Obligation, to the extent of the unpaid or unredeemed princi-
pal balance thereof, may be assigned and transferred by the
initial registered owner thereof once only, and to one or more
assignees designated in writing by the initial registered
owner thereof. All Certificates of Obligation issued and de-
livered in conversion of and exchange for the Initial Certif-
icate of Obligation shall be in any denomination or denomina-
tions of any integral multiple of $5,000 (subject to the
requirement hereinafter stated that each substitute Certif-
icate of Obligation shall have a single stated principal
maturity date), shall be in the form prescribed in the FORM OF
SUBSTITUTE CERTIFICATE OF OBLIGATION set forth in this
Ordinance, and shall have the characteristics, and may be
assigned, transferred, and converted as hereinafter provided.
If the Initial Certificate of Obligation or any portion
thereof is assigned and transferred or converted the Initial
Certificate of Obligation must be surrendered to the Paying
Agent/Registrar for cancellation, and each Certificate of
Obligation issued in exchange for any portion of the Initial
Certificate of Obligation shall have a single stated principal
maturity date, and shall not be payable in installments; and
each such Certificate of Obligation shall have a principal
maturity date corresponding to the due date of the installment
of principalor portion thereof for which the substitute
Certificate of Obligation is being exchanged; and each such
Certificate of Obligation shall bear interest at the single
rate applicable to and borne by such installment of principal
or portion thereof for which it is being exchanged. If only a
portion of the Initial Certificate of Obligation is assigned
and transferred, there shall be delivered to and registered in
the name of the initial registered owner substitute
Certificates of Obligation in exchange for the unassigned
balance of the Initial Certificate of Obligation in the same
manner as if the initial registered owner were the assignee
thereof. If any Certificate of Obligation or portion thereof
other than the Initial Certificate of Obligation is assigned
and transferred or converted each Certificate of Obligation
issued in exchange therefor shall have the same principal
maturity date and bear interest at the same rate as the
Certificate of Obligation for which it is exchanged. A form
of assignment shall be printed or endorsed on each Certificate
of Obligation, excepting the Initial Certificate of
Obligation, which shall be executed by the registered owner or
its duly authorized attorney or representative to evidence an
assignment thereof. Upon surrender of any Certificates of
Obligation or any portion or portions thereof for transfer of
registration, an authorized representative of the Paying
Agent/Registrar shall make such transfer in the Registration
Books, and shall deliver a new fully registered substitute
Certificate of Obligation or Certificates of Obligation,
having the characteristics herein described, payable to such
assignee or assignees (which then will be the registered owner
or owners of such new Certificate of Obligation or
Certificates of Obligation), or to the previous registered
owner in case only a portion of a Certificate of Obligation is
being assigned and transferred, all in conversion of and
exchange for said assigned Certificate of Obligation or
Certificates of Obligation or any portion or portions thereof,
in the same form and manner, and with the same effect, as
provided in Section 6(d), below, for the conversion and
exchange of Certificates of Obligation by any registered owner
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