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Finance Highlights 2011 0909
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Finance Highlights 2011 0909
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9/13/2011 5:38:30 PM
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9/13/2011 5:37:30 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
9/9/2011
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_CC Agenda 2011 0919
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\City Clerk\City Council\Agenda Packets\2011\Packet 2011 0919
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its Office for cancellation, accompanied by delivery of a written instrument of transfer in <br />a form acceptable to the Trustee, duly executed. The Trustee shall collect any tax or <br />other governmental charge on the transfer of any Bonds under this Section 2.06. <br />Whenever any Bond or Bonds are surrendered for transfer, the City will execute and the <br />Trustee shall authenticate and deliver to the transferee a new Bond or Bonds of like <br />series, interest rate, maturity and aggregate principal amount. The City will pay the cost <br />of printing Bonds and any services rendered or expenses incurred by the Trustee in <br />connection with any transfer of Bonds. <br />(b) Exchange The Bonds may be exchanged at the Office of the Trustee for a <br />like aggregate principal amount of Bonds of other authorized denominations and of the <br />same series, interest rate and maturity. The Trustee shall collect any tax or other <br />governmental charge on the exchange of Bonds under this subsection (b). The City will <br />pay the cost of printing Bonds and any services rendered or expenses incurred by the <br />Trustee in connection with any exchange of Bonds. <br />(c) Limitations The Trustee may refuse to transfer or exchange, under the <br />provisions of this Section 2.06, any Bonds selected by the Trustee for redemption under <br />Section 2.03, or any Bonds during the period established by the Trustee for the <br />selection of Bonds for redemption. <br />SECTION 2.07. Registration Books. The Trustee will keep or cause to be kept, <br />at its Office, sufficient records for the registration and registration of transfer of the <br />Bonds, which shall at all times during normal business hours, and upon reasonable <br />notice, be open to inspection by the City. The Trustee will register the ownership and <br />transfer of the Bonds on the Registration Books under such reasonable regulations as it <br />may prescribe. <br />SECTION 2.08. Bonds Mutilated, Lost, Destroyed or Stolen. If a Bond is <br />mutilated, the City, at the expense of the Owner of that Bond, shall execute, and the <br />Trustee shall thereupon authenticate and deliver, a new Bond of like tenor in exchange <br />and substitution for the Bond so mutilated, upon surrender to the Trustee of the Bond so <br />mutilated. The Trustee shall cancel every mutilated Bond surrendered to it and deliver <br />such mutilated Bond to or upon the order of the City. If a Bond is lost, destroyed or <br />stolen, evidence of such loss, destruction or theft may be submitted to the Trustee and, <br />if such evidence is satisfactory to the Trustee and if indemnity satisfactory to the Trustee <br />is given, the City, at the expense of the Owner, will execute, and the Trustee will <br />thereupon authenticate and deliver, a new Bond of like tenor in lieu of and in substitution <br />for the Bond so lost, destroyed or stolen. The Trustee may require payment of a sum <br />not exceeding the actual cost of preparing each new Bond issued under this Section <br />and of the expenses which may be incurred by the Trustee in connection therewith. Any <br />Bond issued under the provisions of this Section in lieu of any Bond alleged to be lost, <br />destroyed or stolen will constitute an original additional contractual obligation on the part <br />of the City whether or not the Bond so alleged to be lost, destroyed or stolen be at any <br />time enforceable by anyone, and are equally and proportionately entitled to the benefits <br />of this Indenture with all other Bonds issued under this Indenture. <br />Notwithstanding any other provision of this Section 2.08, in lieu of delivering a <br />new Bond for which principal has become due for a Bond which has been mutilated, <br />lost, destroyed or stolen, the Trustee may make payment of such Bond in accordance <br />with its terms upon receipt of indemnity satisfactory to the Trustee. <br />10 <br />
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