Ordinance No. 19551 - Laserfiche WebLink

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Bond Register as of the fifteenth day of the month preceding an interest payment date tthe "Record Date"~. If payment is so mailed, neither the City nor the Trustee shall have any further liability to any party for such payment. 3.5.5, Series 1988 Bonds may be exchanged for an equal principal amount of Series 1988 Bonds of the same maturity which are in different authorized denominations, and Series 1988 Bonds may be transferred to other owners if the Series 1988 Bondawner submits the following to the Trustee: 3.5,5.1. written instructions for exchange or transfer satisfactory to the Trustee, signed by the Series 1988 Bondowner or his attorney in fact and guaranteed ar witnessed in a manner satisfactory to the Trustee; and 3.5.5.2, the Series 1988 Bonds to be exchanged ar transferred, 3,5.b, The Trustee shall not be required to exchange ar transfer any Series 1988 Bonds submitted to it during any period beginning with a Record Date and ending on the next fallowing payment date; however, such Series 1988 Bonds shall be exchanged or transferred promptly following the payment date. 3.5.7. The Trustee shall not be required to exchange or transfer any Series 1988 Bonds which have been designated for redemption if such Series 1988 Bonds are submitted to it during the fifteen-day period preceding the designated redemption date. 3.5.8, For purposes of this Section, Series 1988 Bonds shall be considered submitted to the Trustee on the date the Trustee actually receives the materials described in subsection 3.5.5 of this section, 3,5.9. The City may alter these provisions regarding registration and transfer by mailing notification of the altered provisions to all Series 1988 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. 3.b. Redemption of Series 1988 Bonds. -- 3,b.1, The Series 1988 Bonds shall be subject to redemption upon the terms established by the City Manager or the City Manager's designee pursuant to Section 3.2 of this Qrdinance. If amounts are owing under the Series 1988 Note and Series 1988 Credit Agreement, na Bands may be redeemed at the option of the City until such amounts owing under the Series 1988 Note and Series 1988 Credit Agreement are fully paid. Page 20 - Ordinance