1988-013SWDD - Laserfiche WebLink

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New Bonds delivered upon any transfer or exchange shall be valid obligations of the District , evidencing the same debt as the Bonds surrendered , shall be secured by this Resolution , and shall be entitled to all of the security and benefits hereof to the same extent as the Bonds surrendered . The District and the Bond Registrar may treat the Registered Owner of any Bond as the absolute owner thereof for all purposes , whether or not such Bond shall be overdue , and shall not be bound by any notice to the contrary . SECTION 10 . DISPOSITION OF BONDS PAID OR REPLACED . Whenever any Bond shall be delivered to the Bond Registrar for cancellation , upon payment of the principal amount thereof , or for replacement , transfer or exchange , such Bond shall be cancelled and destroyed by the Bond Registrar , and counterparts of a certificate of destruction evidencing such destruction shall be furnished to the District . SECTION 11 . BONDS MUTILATED , DESTROYED , STOLEN OR LOST . In case any Bond shall become mutilated , or be destroyed , stolen or lost , the District may , in its discretion , issue and deliver a new Bond of like tenor as the Bond so mutilated , destroyed , stolen or lost , in exchange for and cancellation of such mutilated Bond or in lieu of and substitution for the Bond destroyed , stolen or lost , upon the Registered Owner furnishing the District and the Bond Registrar proof of his ownership thereof and the loss thereof ( if lost , stolen or destroyed ) and satisfactory indemnity and complying with such other reasonable regulations and conditions as the Board may prescribe and paying such expenses as the Board and the Bond Registrar may incur . All Bonds so surrendered shall be cancelled by the Bond Registrar . If any such Bonds shall have matured or be about to mature , instead of issuing a substitute Bond , the District may pay the same , upon being indemnified as aforesaid , and if such Bond be lost , stolen or destroyed , without surrender thereof . Any such duplicate Bonds issued pursuant to this section shall constitute original , additional , contractual obligations on the part of the District whether or not the lost , stolen or destroyed Bonds be at any time found by anyone , and such duplicate Bonds shall be entitled to equal and proportionate benefits and • rights as to lien on and source and security for payment from the funds , as hereinafter pledged , to the same extent as all other Bonds issued hereunder . SECTION 12 . PROVISIONS FOR REDEMPTION . The Bonds or any portions thereof shall be subject to redemption prior to their respective stated dates of maturity , at the option of the District , at such times and in such manner as shall be determined by subsequent resolution adopted prior to the sale thereof . Notice of such redemption shall , not more than forty - five 7