Laserfiche WebLink
1 the Bond to be transferred, cancelling it and issuing a new <br /> 2 certificate in the form of the Bonds to the transferee after <br /> 3 registering the name and address of the transferee on the Bond <br /> 4 Register . The new certificate shall bear the same Bond number <br /> 5 as the transferred Bond but may have a different inventory <br /> 6 reference number or control number . Any exchange or transfer <br /> 7 shall be without cost to the owner or transferee . The Bond <br /> 8 Registrar shall not be obligated to exchange or transfer any <br /> 9 Bond during the fifteen days preceding any principal payment or <br /> 10 redemption date. <br /> 11 Section 3 . Both principal of and interest on the Bonds <br /> 12 shall be payable solely out of the Local Improvement Fund, <br /> 13 District No . 725 (the "Bond Fund" ) , and from the Local Improve- <br /> 14 merit Guaranty Fund of the City, and shall be payable in lawful <br /> 15 money of the United States of America . Interest on the Bonds <br /> 16 shall be paid by checks or drafts mailed on the interest payment <br /> 17 date to the registered owners at the addresses appearing on the <br /> 18 Bond Register on the 15th day of the month preceding the inter- <br /> 19 est payment date. Principal of the Bonds shall be payable upon <br /> 20 presentation and surrender of the Bonds by the registered owners <br /> 21 at either of the principal offices of the Bond Registrar at the <br /> 22 option of the owners . <br /> 23 Section 4 . The City reserves the right to redeem the Bonds <br /> 24 prior to their stated maturity on any interest payment date, in <br /> 25 numerical order, lowest numbers first, at par plus accrued <br /> - 3 - <br />