BC 1988 05 23 - Laserfiche WebLink

Home Browse Search

373 thereof to the Bond Registrar together with an assignment duly executed by the registered owner or his attorney or legal representative in such form as shall be satisfactory to the Bond Registrar. Upon any such registration of trans- fer, the Bond Registrar shall authenticate and deliver in exchange for such Bond a new Bond or Bonds, registered in the name of the transferee, of any denomination or denominations authorized by this Resolution, in an aggregate principal amount equal to the unredeemed principal amount of such Bond so surrendered, of the same maturity and bearing interest at the same rate. The transfer of a Bond awarded to a Bank Purchaser may be registered by the registered owner thereof only upon an execution of an assignment thereof duly executed by such registered owner or his attorney or legal representative. Notice of such assignment shall be given promptly by the assignor to the Bond Registrar by registered mail, such notice to be in such form as shall be satisfactory to the Bond Registrar, and upon receipt of such notice such Bond shall be registered as to both principal and interest on such registration books in the name of the assignee named in such notice. In all cases in which Bonds shall be exchanged or the transfer of Bonds shall be registered hereunder and a new Bond or Bonds are to be delivered in exchange therefor, the Bond Registrar shall authenticate and deliver at the earliest practicable time Bonds in accordance with the provisions of this Resolution. Ail Bonds surrendered in any such exchange or registration of transfer shall forthwith be cancelled by the Bond Registrar. The Bond Regis- trar shall not be required to make any such exchange or registration of transfer of (i) any Bond during a period beginning at the opening of business fifteen (15) days before the day of the mailing of a notice of redemption of Bonds or any portion thereof and ending at the close of business on the day of such mailing or (ii) any Bond called for redemption in whole or in part pursuant to this Resolution. As to any Bond, the person in whose name the same shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal or redemption price of any such Bond and the interest on any such Bond shall be made only to or upon the order of the registered owner thereof or his legal representative. Ail such pay- ments shall be valid and effectual to satisfy and discharge the liability upon such Bond, including the redemption premium, if any, and interest thereon, to the extent of the sum or sums so paid. The Issuer shall appoint such registrars, transfer agents, depositories or other agents as may be necessary for the registration, registration of transfer and exchange of Bonds within a reasonable time according to then current commercial standards and for the timely payment of principal, interest and any redemption premium with respect to the Bonds. Except as hereinafter provided, the Bank Purchaser is hereby appointed the registrar, transfer agent and paying agent (the "Bond Registrar") for the Bonds, subject to the right of the Designated Representative in the Award Certificate or the governing body of the Issuer at any time while the Bonds are outstanding to appoint another Bond Registrar, and as such shall keep at its corporate trust office the books of the Issuer for the registration, registration of transfer, exchange and payment of the Bonds as provided in this resolution. If a Bank Purchaser is the purchaser of the Bonds, then the Clerk to the governing body of the Issuer shall be the Bond Registrar; provided, however, that, in the event that a Bond registered in the name of a Bank Purchaser or its designee is assigned, the Bond Registrar with respect to such Bond shall be the Bank Purchaser. Section 6. Execution and Form of Bonds The Bonds shall bear the manual, facsimile or typewritten signatures of the Chairman of the governing body and the Clerk to the governing body of the Issuer. The certificate of the Local Government Commission to be endorsed on all Bonds shall bear the facsimile signature of or be executed by the Secretary of said Commission or his designee and the certificate of authentication of the Bond Registrar to be endorsed on all Bonds shall be executed as provided hereinafter. In case any officer of the Issuer or the Local Government Commission whose manual, facsimile or typewritten signature shall appear on any Bonds shall cease to be such officer before the delivery of such Bonds, such manual,