Ordinance 1505-88 - Laserfiche WebLink

• fiscal agencies of the State of Washington in the cities of Seattle, Washington, or New York, New York. The Bonds may be transferred only on the Bond Register maintained by the Bond Registrar for that purpose upon the sur- render thereof by the registered owner or nominee or his/her duly authorized agent and only if endorsed in the manner provided thereon, and thereupon a new fully registered Bond of like prin- cipal amount, maturity and interest rate shall be issued to the transferee in exchange therefor. Such transfer shall be without cost to the registered owner or transferee. The City may deem the person in whose name each Bond is registered to be the absolute owner thereof for the purpose of receiving payment of the principal of and interest on such Bonds and for any and all other purposes whatsoever. Upon surrender thereof to the Bond Registrar, the Bonds are interchangeable for Bonds in any authorized denomination of an equal aggregate principal amount and of the same interest rates and maturities. SECTION 5 . Optional Redemption. The City hereby reserves the right to redeem the outstanding Bonds maturing on and after July 1, 1999, in whole or in part, in inverse order of maturity and by lot within a maturity in such manner as the Bond Registrar shall determine, on any interest payment date on or after July 1, 1998, and at a price of par plus accrued interest to the date of redemption. Portions of the principal amount of any Bond, in installments of $5, 000 or any integral multiple of $5, 000, may be redeemed in accordance with this section. If less than all of the principal amount of any Bond is redeemed, upon surrender of such Bond at the principal office of the Registrar, there shall be issued to the registered owner, without charge therefor, for the then unredeemed balance of the principal amount thereof, a new Bond or Bonds, at -7- KR257 88/07/06