HomeMy WebLinkAbout0039_0037regulations as the Issuer and Paying Agent/Registrar may
prescribe; and the °Paying Agent/Registrar shall make such
transfers and registrations as herein provided. The Paying
Agent/Registrar shall obtain and record in the Registration
Books the address of the registered owner of each Band to which
payments with respect to the Bonds shall be mailed, as herein
provided; but it shall be the duty of each registered owner to
notify the Paying Agent/Registrar in writing of the address to
which payments shall be mailed, and such interest payments
shall not be mailed unless such notice has been given. The
Issuer shall have the right to inspect the Registration Books
during regular business hours of the Paying Agent/Registrar,
but otherwise the Paying Agent/Registrar shall keep the Regis-
tration Books confidential and, unless otherwise required by
law, shall not permit their inspection -by any other entity.
Registration of each Bond may be transferred in the Registra-
tion Books only upon presentation and surrender of such Bond to
the Paying Agent/Registrar for transfer of registration and,
cancellation, together with proper, written instruments of'
assignment, in form and with guarantee of signatures satis-
factory to the Paying Agent/Registrar, (i) evidencing the
assignment of the Bond, or. any portion thereof in any integral
multiple of $5,000, to the assignee or assignees thereof, and
(ii) the right of such assignee or assignees to have the Bond
or any such portion -thereof registered in the name - of such
assignee or assignees. Upon the assignment and transfer of any
Bond or, any portion thereof, *a new substitute Bond or Bonds
shall be issued in conversion and exchange therefor in the
manner herein provided. The Initial Bond, to the extent of the
unpaid -or unredeemed principal 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 Bonds issued and de-
livered in conversion of and exchange for the Initial Bond
shall be in any denomination or denominations of any integral
multiple— of $5',000 (subject to the requirement hereinafter
stated that each substitute Bond shall have a single stated
principal maturity date), shall be in the. form prescribed in
the FORM-OF`SUBSTITUTE BOND set.'forth in this Ordinance, and
shall`have. the characteristics, and may be assigned, trans-
ferred;,,.and converted 'as hereinafter' provided. If the Initial
Bond or any portion thereof is assigned and transferred or
converted the Initial `Bond must be surrendered to the Paying;
Agent/Registrar for cancellation, and each 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' hav3 a principal`
maturity date coresponding 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 only a portion of the -Initial Bond is assigned and trans-
ferred, there
ransferred,`there shall be delivered to and registered in the name
of thej'�initial`registered owner substitute Bonds in exchange
for the unassigned balance of the Initial Bond Iin the- same
manner as if the initial- registered owner were the assignee
thereof. 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 exchanged._A form of assignment shall be printed or en-
dorsed -on each'Bond, excepting the Initial Bond, which shall be
executed by the registered owner or its duly authorized attor-
ney or representative to evidence `an' assignment thereof. Upon
surrender., of any Bonds or any portion or, portions thereof for
transfer` of registration,ean,_authorized representative of the
Paying Agent/Registrar shall make such ,transfer in, the Regis-
tration books, and shall deliver a new fully registered
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