HomeMy WebLinkAbout0110_0009interest coupons, in the form prescribed in the FORM OF SUB-
STITUTE BOND set forth in this Ordinance, in the denomination
of $5,000, or any integral multiple of $5,000 (subject to the
requirement hereinafter stated that each substitute Bond shall
have a single stated maturity date), as requested in writing by
such registered owner or such assignee or assignees, in an
aggregate principal amount equal to the unpaid or unredeemed
principal balance or principal amount of any Bond or Bonds so
surrendered, and payable to the appropriate registered owner,
assignee, or assignees, as the case may be If the Initial
Bond is assigned and transferred or converted each substitute
Bond issued in exchange for any portion of the Initial Bond
shall have a single stated principal maturity date, and shall
not be payable in installments, and each such Bond shall have a
principal maturity date corresponding to the due date of the
installment of principal or portion thereof for which the
substitute Bond is being exchanged, and each such Bond 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 a portion of any Bond (other than the
Initial Bond) shall be redeemed prior to its scheduled maturity
as provided herein, a substitute Bond or Bonds having the same
maturity date, bearing interest at the same rate, in the
denomination or denominations of any integral multiple of
$5,000 at the request of the registered owner, and in aggregate
principal amount equal to the unredeemed portion thereof, will
be issued to the registered owner upon surrender thereof for
cancellation If any Bond or portion thereof (other than the
Initial Bond) is assigned and transferred or converted, each
Bond issued in exchange therefor shall have the same principal
maturity date and bear interest at the same rate as the Bond
for which it is being exchanged Each substitute Bond shall
bear a letter and/or number to distinguish it from each other
Bond The Paying Agent/Registrar shall convert and exchange or
replace Bonds as provided herein, and each fully registered
bond delivered in conversion of and exchange for or replacement
of any Bond or portion thereof as permitted or required by any
provision of this Ordinance shall constitute one of the Bonds
for all purposes of this Ordinance, and may again be converted
and exchanged or replaced It is specifically provided that
any Bond authenticated in conversion of and exchange for or
replacement of another Bond on or prior to the first scheduled
Record Date for the Initial Bond shall bear interest from the
date of the Initial Bond, but each substitute Bond so authenti-
cated after such first scheduled Record Date shall bear inter-
est from the interest payment date next preceding the date on
which such substitute Bond was so authenticated, unless such
Bond is authenticated after any Record Date but on or before
the next following interest payment date, in which case it
shall bear interest from such next following interest payment
date, provided, however, that if at the time of delivery of any
substitute Bond the interest on the Bond for which it is being
exchanged is due but has not been paid, then such Bond shall
bear interest from the date to which such interest has been
paid in full THE INITIAL BOND issued and delivered pursuant
to this Ordinance is not required to be, and shall not be,
authenticatea by the Paying Agent/Registrar, but on each
substitute Bond issued in conversion of and exchange for or
replacement of any Bond or Bonds issued under this Ordinance
there shall be printed a certificate, in the form substantially
as follows
"PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE
It is hereby certified that this Bond has been issued
under the provisions of the Bond Ordinance described on the
face of this Bond, and that this Bond has been issued in
conversion of and exchange for or replacement of a bond, bonds,
or a portion of a bond or bonds of an issue which originally
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