Ordinance 1963-93 - Laserfiche WebLink

Upon the surrender thereof to the Bond Registrar, the 1993 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 1993 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 1993 Bonds which have been called for redemption within a period of twenty(20) days next preceding the date fixed for redemption. The 1993 Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and secured as provided herein. The 1993 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 1993 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. The Bond Registrar shall be responsible for its representations contained in the Certificate of Authentication on the 1993 Bonds. The Bond Registrar may become the owner of such Bonds with the same rights it would have if it were not the Bond Registrar, and to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the rights of the owners of such Bonds. Section 6. Redemption Prior to Maturity. A. Optional Redemption. The City hereby reserves the right to redeem the outstanding 1993 Bonds maturing on or after July 1, 2004, in whole, or in part, on any interest -13- Fww04E DOC 93/1026