O-1985-1470 - Laserfiche WebLink

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. . gated thereunder, and that the City will otherwise comply with the pertinent provisions of said Section 103(c) and regulations in order that the Bonds will not be or become arbitrage bonds thereunder. Section 13. That if (1) any mutilated Bond is surrendered to the Paying AgentlRegistrar or (2) the City and the Paying AgentlRegistrar receive evidence to their satisfaction of the destruction, loss or theft of any Bond, and (a) there is delivered to the City and the Paying AgentlRegistrar such security or indemnity as may be required by them to save each of them harmless and (b) the City and the Paying Agent/Registrar have no notice that such latter Bond has been acquired by a bona fide purchaser; then and in either such event the City shall execute and upon its request the Paying AgentlRegistrar shall register and deliver, in exchange for or in lieu of any such mutilated, destroyed, lost or stolen Bond, a new Bond of the same maturity and of like tenor, interest rate and principal amount, bearing a number not contemporaneously outstanding. Upon the issuance of any new Bond under this Section 13, the City may require the payment by the registered owner thereof of a sum sufficient to cover any tax or other governmental charge that may be imposed in relation thereto and any other expenses (including the fees and expenses of the Paying Agent/Registrar) connected therewith. Every new Bond issued pursuant to this Section 13 in lieu of any mutilated, destroyed, lost or stolen Bond shall constitute a replacement of the prior obligation of the City, whether or not the mutilated, destroyed, lost or stolen Bond shall be at the time enforceable by anyone, and shall be entitled to all the benefits of this Ordinance equally and ratably with all other outstanding Bonds. Section 14. That the City covenants at all times to maintain a Paying Agent/Registrar for the Bonds meeting the qualifications herein set forth, and, subject to the remaining provisions of this Section 14, hereby appoints First City National Bank of Houston, Houston, Texas, initi- ally to serve in such capacity. The form, terms and provi- sions of the proposed Agreement between the City and First City National Bank of Houston, providing for such appointment which is attached to this Ordinance as Exhibit A are hereby approved in all respects, and the Mayor and City Secretary are hereby authorized and directed to execute and deliver an agreement substantially in the form of such Agreement, with such changes therein as the officers executing the same shall, as evidenced by their signatures thereon, approve. The City expressly reserves the right to appoint one or more successor Paying Agent/Registrars by (1) filing with the Paying Agent/Registra~ then serving a certified copy of a resolution or ordinance giving notice of the termination of the City's agreement with such Paying Agent/ Registrar and appointing a successor and (2) giving notice to all of the registered owners of the Bonds and to the Municipal Advisory Council of Texas or its successor. Every Paying Agent/Regis- trar appointed hereunder shall at all times be a corporation organized and doing business under the laws of the United States of America or of any State, authorized under such laws to exercise trust powers, and subject to supervision or examination by Federal or State authority. Section 15. That public advertisement for the sale of the Bonds having been made and bids to purchase the Bonds having been received pursuant thereto, it is hereby found and dec lared that the bid submi t ted by IkDER,/!,y.j iJ?uNlJll.S cofer,. I/lJMt!f'OIUtTE.T> fJJ1t:! &iX"A1lTES (the "Purchaser") is the best bid RG041R/180BOl -10-