Resolution No. 4539 - Laserfiche WebLink

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9.4. If the Refunding Bonds cease to be in book-entry-form, the PaYing Agent shall mail each interest payment on the interest payment date (or the next business day if the payment date is not a business day) to the name and address of the Refunding Bondowners as they appear on the bond register as of the fifteenth day of the month preceding an interest payment date (the "Record Date"). If payment is so mailed, neither the City nor the PaYing Agent shall have any further liability to any party for such payment. 9.5. Refunding Bonds may be exchanged for an equal principal amount of Refunding Bonds of the same maturity which are in different denominations, and Refunding Bonds may be transferred to other owners if the Refunding Bondowner submits the following to the PaYing Agent: 9.5.1. written instructions for exchange or transfer satisfactory to the PaYing Agent, signed by the Refunding Bondowner or attorney in fact and guaranteed or witnessed in a manner satisfactory to the Paying Agent; and 9.5.2. the Refunding Bonds to be exchanged or transferred. 9.6. The Paying Agent shall not be required to exchange or transfer any Refunding Bonds submitted to it during any period beginning with a Record Date and ending on the next following payment date; however, such Refunding Bonds shall be exchanged or transferred promptly following that payment date. 9.7. The PaYing Agent shall note the date of authentication on each Refunding Bond. The date of authentication shall be the date on which the Refunding Bondowner's name is listed on the bond register. 9.8. For purposes of this section, Refunding Bonds shall be considered submitted to the Paying Agent on the date the PaYing Agent actually receives the materials described in Section 9.5. 9.9. The City may alter these provisions regarding registration and transfer by mailing notification of the altered provisions to all Refunding Bondowners. The altered provisions shall take effect on the date stated in the notice, which shall not be earlier than 45 days after notice is mailed. Section 10. Security for Refunding Bonds. Pursuant to ORS 288.160 (the "Act"), the City may issue general obligation bonds to refund general obligation bonds which were issued before November 6, 1990, and to refund general obligation bonds which were issued for capital construction or improvements, upon compliance with the provisions of the Act. The Refundable Bonds were issued with approval of the voters before November 6, 1990, for capital construction and improvements, and the Page 5 - Resolution J:\RDR\EUGENE.Cfl\ADV-REF.97\RES.DOC