Ordinance No. 19305 - Laserfiche WebLink

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Section ~, Authentication Re istration and Transfer. ~ 1} No bond shat 1 be entitled to any right or benef i t under this ordinance the "Band Ordinance"} unless it shall have been authenticated by an authorized officer of the City's paying agent and registrar the "Registrar"}. The Registrar shall authenticate all bonds to be delivered at closing of this band issue, and shall additionally authenticate all bonds properly surrendered for exchange or transfer pursuant to this Bond Ordinance. ~2} A11 bonds shall be in registered farm. The City hereby appoints OREGON FIRST BANK to serve as Registrar. A successor Registrar may be appointed for the bonds by ordinance or resolution of the City. The Registrar shal 1 provide notice to bondowners of any change in the Registrar not later than the bond payment date fallowing the change in the Registrar, (3} The ownership of all bonds shall be entered in the bond re inter g maintained by the Registrar, and the City and the Registrar may treat the person listed as owner in the bond register as the owner of the bond for all purposes. ~4} The Registrar shall mail each bond payment to the name and address of the bondawner as it appears on the band register on the fifteenth day of the month preceding a band payment date the "Record Date"}. Tf payment is so mailed, neither the City nor the Registrar shall have any further l i obi l i ty to any party~~ far such payment. ~5} Bands 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 bondowner submits the following to the Registrar: ~a} written instructions for exchange or transfer satisfactory to the Registrar, signed by the bondowner or his attorney in fact and guaranteed or witnessed in a manner satisfactory to the Registrar; and (b) the bonds to be exchanged or transferred. ~5} The Registrar shall not be required to exchange or transfer any bands submitted to it during any period beginning with a Record Date and ending on the next following payment date; however, such bands shall be exchanged or transferred promptly following that payment date. ~7} The Registrar shall Hate the date of authentication on each band. The date of authentication shall be the date on which the bondawner's name is listed on the band register. ~S} Far purposes of this section, bands shall be considered submitted to the Registrar an the date the Registrar actually receives the materials described in subsection ~5} of this section. Page 2 -Ordinance