Res85 10070 - Laserfiche WebLink

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The City shall be liable for the Agent's reasonable charges, if any, with respect to providing the list of Series B Bondholders and related information referred to herein. Section 14. Mutilated, Destroyed or Lost Series B Bonds. In case any Series B Bond shall become mutilated or defaced in respect of the body of such Bond so as to impair its value to the registered holder, or shall be believed by the City and Agent to have been destroyed or lost, upon clear and unequivocable proof of ownership satisfactory to the City and Agent and upon the surrender at the named office of the Agent of such mutilated or defaced Bond sufficiently identifiable by number and description, or upon the receipt of evidence satisfactory to the City and Agent of such destruction or loss, and upon payment of all expenses incurred by the City and Agent in the premises and after compliance with such other reasonable regulations as the City and Agent may prescribe, and, in the case of a Series B Bond claimed to have been destroyed or lost, upon receipt of indemnity satisfactory to the City and Agent, and in the absence of notice to the City or Agent that such Bond has been acquired by a bona fide purchaser, the City shall execute and the Agent shall authenticate and deliver at the named office of the Agent, a new Series B Bond of like maturity and principal amount, bearing a number not contemporaneously outstanding, in exchange and substitution for and upon cancellation of the mutilated or defaced Series B Bond, or in lieu of and in substitution for the Series B Bond so destroyed or lost. If any such destroyed or lost Series B Bond has become or is about to become due and payable, payment of the amount due thereon may in the discretion of the City be made by the Agent upon receipt of like proof, indemnity and payment of expenses without surrender of such Bond. Any such replacement Series B Bond issued pursuant to this section shall be entitled to equal and proportionate benefits with all other Series B Bonds issued hereunder. The City and the Agent shall not be required to treat both the original Series B Bond and any replacement Series B Bond as being outstanding, but both the original and replacement Bond shall be treated as one and the same. Section 15. Certified Copies. The City Clerk shall provide a certified copy of this Resolution to the Treasurer who shall take such action as shall be necessary to assure compliance by the City with the terms and conditions hereof. The City Clerk is further directed to provide a certified copy of this resolution to the County Auditor- Controller. * * * * * -7-