Ordinance 3405-14 - Laserfiche WebLink

upon demand of the Registered Owner of any Bond Outstanding at the time of such passage and presentation of such Registered Owner's Bond for the purpose to the Bond Registrar or at such additional offices as the Bond Registrar may select and designate for that purpose, a suitable notation shall be made on such Bond. If the Supplemental Ordinance shall so provide, new Bonds so modified as to conform, in the opinion of the City, to any modification or amendment contained in such Supplemental Ordinance, shall be prepared by the Bond Registrar at the expense of the City, executed by the City and authenticated by the Bond Registrar, and upon demand of the Registered Owners of any Bonds then Outstanding shall be exchanged by the Bond Registrar, without cost to any Registered Owner, for Bonds then Outstanding, upon surrender for cancellation of such Bonds, in equal aggregate principal amounts of the same maturity. Section 8.04. Amendment of Particular Bonds. The provisions of this Article shall not prevent any Registered Owner from accepting any amendment as to the particular Bonds held by such Registered Owner, provided that due notation thereof is made on such Bonds. ARTICLE IX DEFEASANCE Section 9.01. Defeasance. In the event that the City, in order to effect the payment, retirement or redemption of any Bond, sets aside in the Bond Fund or in another special account, cash or noncallable Government Obligations, or any combination of cash and/or noncallable Government Obligations, in amounts and maturities which, together with the known earned income therefrom, are sufficient to redeem or pay and retire such Bond in accordance with its terms and to pay when due the interest and redemption premium, if any, thereon, and such cash and/or noncallable Government Obligations are irrevocably set aside and pledged for such purpose, then no further payments need be made into the Bond Fund for the payment of the -104- P\20287_C MVV 20287 AMT 10/14/14