HomeMy WebLinkAbout0030_0028as the case may be:In every case of damage or mutilation of a
Bond, the. registered owner shall surrenderto the Paying
Agent/Registrar for cancellation the Bond so' damaged or. muti-
1ated.
(c) No Default Occurred. Notwithstanding the foregoing
provisions of this, Section,. in the event any such Bond shall
have matured,, and no default has occurred which is then con-
tinuing in the payment of the principal of, redemption premium,
if any, or interest on the Bond, the Issuer may authorize the
payment Eof the same (without .surrender thereof except in the
case aof a damaged or mutilated Bond) Instead of issuing a
,replacement Bond, provided security, or' indemnity is furnished
as above provided in this Section.
(d) Charge-for'Issuinq Replacement Bonds. Prior to the
(issuance -of any replacement bond, the Paying Agent/Registrar
shall, charge the registered owner of such Bond with all legal,
(printing, and other expenses in connection therewith. Every
replacement bond issued pursuant to the <, provisions of this
ISection by virtue of the fact that any Bond is lost, stolen, or
jdestroyed shall' constitute -a contractual obligation of the
Issuer whether or not the lost, stolen, or destroyed Bond shall
be found at_ any. time, or be enforceable" by anyone,- and `shall be
entitled to all the benefits of this°Ordinance` equally and
proportionately with any and all other Bonds duly issued under,
,this Ordinance
(e) Authority for Issuing Replacement' Bonds:, In adcor-
dance with Section 6 of Vernon's Ann.' Tex. Civ'4 St. Art.
727k-6, this Section 24 of this Ordinance' _shall .:'constitute
authority for the issuance of any.such•replacement bond without
necessity of further action by the governing body of the Issuer
or any.other body or person, and the duty:of the replacement of
such bonds• is hereby authorized and imposed upon. the Paying
Agent/Registrar, ,and the Paying Agent/Registrar shall authen-
ticate and deliver such bonds in the form and manner and with
the effect,. as provided in Section 6(d) of this Ordinance for
Bonds issued in conversion and exchange for other Bonds.,
Section 25. CUSTODY, APPROVAL, AND REGISTRATION OF BONDS;
BOND'_COUNSEL'S OPINION, AND CUSIP NUMBERS. The Mayor of the,
Issuer is hereby authorized to have control of the Initial Bond
issued .:hereunder and all necessary records and proceedings
pertaining .to -the Initial Bond, pending its delivery =and its''
investigation,, examination, and approval by the Attorney
General of the State of Texas, and, its registration by the
Comptroller of Public Accounts of the State .of Texas. Upon
registration; of the Initial Bond said Comptroller of Public
Accounts (or a deputy designated in writing to act 'for said
Comptroller) shall manually sign the Comptroller's Registration
Certificate .on the Initial Bond,: and the seal of said Comp
troller shall be impressed, or placed,�,in facsimile,.- on the
Initial Bond.t'The approving legal opinion of the Issuer's Bond
Counsel' and the assigned CUSIP numbers may, at the option of
the Issuer, be printed on the -Initial Bond -or on.; any Bonds
issued and delivered in conversion of and exchange ur replace-
ment -of any -Bond, but neither shall have any legal effect, and
shall be solely for the convenience and information of.the reg-
istered
egistered owners of the Bonds.
Section 26._- NO ARBITRAGE. The' Issuer,:Tcovenants to and
with the registered owners of the Bonds. that it ;will, make no
use of', -the proceeds of the Bonds at --any time throughout the
term of this issue of Bonds which,,if such use had been reason-
ably expected on the date..of delivery of the Bonds to and
payment for the Bonds by the purchasers, would have caused the
Bonds �to be arbitrage bonds within the meaning of Section
103(c) of the Internal Revenue''Code of 1954, as amended, or any
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