Resolution No. 4624 - Laserfiche WebLink

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(C) While the Bonds are in book-entry only form, the Registrar shall transfer Bond principal and interest payments in the manner required by DTC. (D) If the Bonds cease to be in book-entry only form, the Registrar 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 Owners as they appear on the Bond register as of the Record Date. Ifpayment is so mailed, neither the City nor the Registrar shall have any further liability to any party for such payment. (E) Bonds may be exchanged for an equal principal amount of Bonds of the same maturity which are in different denominations, and Bonds may be transferred to other Owners if the Owner submits the following to the Registrar: (1) written instructions for exchange or transfer satisfactory to the Registrar, signed by the Owner or attorney in fact and guaranteed or witnessed in a manner satisfactory to the Registrar and (2) the Bonds to be exchanged or transferred. (F) The Registrar shall not be required to exchange or transfer any Bonds submitted to it during any period beginning with a Record Date and ending on the next following Payment Date; however, such Bonds shall be exchanged or transferred promptly following that Payment Date. (G) The Registrar shall note the date of authentication on each Bond. The date of authentication shall be the date on which the Owner's name is listed on the Bond register. (H) For purposes of this Section 12.3, Bonds shall be considered submitted to the Registrar on the date the Registrar actually receives the materials described in Section 12.3(E), above. (I) The City may alter these provisions regarding registration and transfer by mailing notification of the altered provisions to all Owners. 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 13. The Series 2000 Bonds 13.1 Sale Authorized. Pursuant to ORS 288.592 the City Council hereby authorizes the sale and delivery of its Airport Revenue Bonds, Series 2000 in an aggregate principal amount sufficient to refund the Series 1988 Bonds. The Series 2000 Bonds shall be Bonds as defined in this Master Resolution, and shall have the terms established by the City Official pursuant to Section 13.4. 13.2 Limitation on Payment. The Series 2000 Bonds shall be special obligations of the City, and shall be payable solely from the Security. Page 23 - Resolution March 23, 2000