1996-030 - Laserfiche WebLink

Home Browse Search

accordance with the provisions of the Original Resolution and this Resolution. All Series 1996 Bonds surrendered in any such exchange or registration of transfer shall forthwith be canceled by the Registrar. The County or the Registrar may make a charge for every such exchange or registration of transfer of Series 1996 Bonds sufficient to reimburse it for any tax or other governmental charge required to be paid with respect to such exchange or registration of transfer, but no other charge shall be made to any Bondholder for the privilege of exchanging or registering the transfer of Series 1996 Bonds under the provisions of this Resolution. SECTION 12. OWNERSHIP OF SERIES 1996 BONDS. The person in whose name any Bond shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal or redemption price of any such Bond, and the interest on any such Series 1996 Bonds shall be made only to or upon the order of the registered owner thereof or his legal representative. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond including the premium, if any, and interest thereon to the extent of the sum or sums so paid. SECTION 13. SERIES 1996 BONDS MUTILATED, DESTROYED, STOLEN OR LOST. In case any Bond shall become mutilated, or be destroyed, stolen or lost, the County may in its discretion cause to be executed, and the Registrar shall authenticate and deliver, a new Bond of like date and tenor as the Bond so mutilated, destroyed, stolen or lost, in exchange and substitution for such mutilated Bond upon surrender and cancellation of such mutilated Bond or in lieu of and substitution for the Bond destroyed, stolen or lost, and upon the Holder furnishing the County and the Registrar proof of his ownership thereof and satisfactory indemnity and complying with such other reasonable regulations and conditions as the County and the Registrar may prescribe and paying such expenses as the County and the Registrar may incur. All Series 1996 Bonds so surrendered shall be canceled by the County. If any of the Series 1996 Bonds shall have matured or be about to mature, instead of issuing a substitute Bond, the County may pay the same, upon being indemnified as aforesaid, and if such Bond be lost, stolen or destroyed, without surrender thereof. Any such duplicate Series 1996 Bonds issued pursuant to this Section shall constitute original, additional contractual obli- gations on the part of the County whether or not the lost, stolen or destroyed Series 1996 Bonds be at any time found by anyone, and such duplicate Series 1996 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 Series 1996 Bonds issued hereunder. SECTION 14. PROVISIONS FOR REDEMPTION. The Series 1996 Bonds shall be subject to redemption prior to their maturity, at the option of the County, at such times and in such manner as shall be fixed by resolution of the County prior to or at the time of sale of the Series 1996 Bonds.