Ordinance 2208-97 - Laserfiche WebLink

The fiscal agencies of the State of Washington in the cities of Seattle, Washington, and New York, New York, shall act as registrar for the Bonds (collectively, the "Bond Registrar"). The Bond Registrar shall maintain the Bond Register. Both principal of and interest on the Bonds shall be payable in lawful money of the United States of America. Interest on the Bonds shall be paid by check or draft mailed on the date such interest is due to the registered owners or nominees of such owners at the addresses appearing on the Bond Register as of the 15th day of the month preceding the interest payment date. The principal of the Bonds shall be payable upon presentation and surrender of such Bonds by the registered owners or nominees of such owners at the principal offices of either of the fiscal agencies of the State of Washington in the cities of Seattle, Washington, or New York, New York, at the option of such owners. Upon the surrender thereof to the Bond Registrar, the Bonds are interchangeable for other such Bonds of any authorized denomination in an equal aggregate principal amount and of the same interest rate and maturity date. The Bonds may be transferred only if endorsed in the manner provided thereon and surrendered to the Bond Registrar. Such exchange or transfer shall be without cost to the owner or transferee. The Bond Registrar shall not be required to register, transfer or exchange any Bonds which have been called for redemption within a period of twenty (20) days next preceding the date fixed for redemption. The Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and secured as provided herein. The Bonds shall not be general obligations of the City. Section 5. Bond Registration. The City hereby specifies and adopts the system of registration for the Bonds approved by the Washington State Finance Committee. The Bond Registrar shall keep, or cause to be kept, at its principal corporate trust office, sufficient books for the registration and transfer of such Bonds which shall at all times be open to inspection by the City and the Bond Insurer. The Bond Registrar is authorized, on behalf of the City, to authenticate and deliver such Bonds transferred or exchanged in accordance with the provisions of such Bonds and this ordinance and to carry out all of the Bond Registrar's powers and duties under this ordinance. -12- FWWOBU DOC 97/03/04