Ordinance No. 19311 - Laserfiche WebLink

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Section 2, Authentication, R istration and Transfer. ~1} No band shall be entitled to any right or benefit under this ordi- nance the "Bond 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 bands to be delivered at closing of of this bond issue, and shall additionally authenticate all bonds properly surrendered for exchange or transfer pursuant to this Bond Ordinance, ~2} All bonds shall be in registered form. 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 Regis- trar shall provide notice to bondowners of any change in the Registrar not later than the bond payment date following the change in the Registrar. ~3) The ownership of all bands shall be entered in the bond register 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 bondowner as it appears on the bond register on the fifteenth day of the month preceding a bond payment date tthe "Record Date"). If payment is so mailed, neither the City nor the Registrar shall have any further liability to any party for such payment. ~5) Bonds may be exchanged for an equal principal amount of bands of the same maturity which are in different denominations, and bonds may be transferred to other owners if the bandowner submits the following to the Registrar ~a} Written instructions for exchange or transfer satis- factory to the Registrar, signed by the bondowner or his attorney in fact and guaranteed or witnessed in a manner satisfactory to the Registrar; and fib} The bonds to be exchanged or transferred. ~~} 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 bonds shall be exchanged or transferred promptly following that payment date. ~7} The Registrar shall note the date of authentication on each bond. The date of authentication shall be the date on which the bondowner's name is listed on the bond register. ~8} Far purposes of this section, bonds shall be considered submitted to the Registrar on the date the Registrar actually receives the materials described in subsection ~5} of this section. Page 2 - Ordinance