O-1985-1470 - Laserfiche WebLink

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. .. Section 4.06. Mutilated, Destroyed, Lost or Stolen Bonds. The City hereby instructs the Bank to deliver and issue Bonds in exchange for or in lieu of mutilated, destroyed, lost or stolen Bonds as long as the same does not result in an overissuance. The Bank will issue and deliver a new Bond in exchange for a mutilated Bond surrendered to it. The Bank will issue a new Bond in lieu of a Bond for which it receives written representation from the registered owner thereof that the certificate representing such Bond is destroyed, lost or stolen, without the surrender or production of the original certificate. The Bank will pay on behalf of the City the principal of a Bond for which it receives written representation that such Bond is destroyed, lost or stolen following the stated maturity or redemption of the Bond, without the surrender or production of the original certificate. The Bank will not issue a replacement Bond or pay such replacement Bond for a lost, stolen or destroyed Bond unless there is delivered to the Bank such security or indemnity as it may require (which may be by the Bank's blanket bond) to save both the Bank and the City harmless. On satisfaction of the Bank and the City, the certificate number on the Bond Register will be cancelled with a notation that it has been mutilated, destroyed, lost or stolen and a new Bond will be issued of the same series and of like tenor and principal amount bearing a number (accord- ing to the Bond Register) not contemporaneously outstanding. The Bank shall charge the registered owner of the Bond the Bank's fees and expenses in connection with issuing a new Bond in lieu of or exchange for a multilated, destroyed, lost or stolen Bond. The City hereby accepts the Bank's current blanket bond for lost, stolen, or destroyed certificates and any future substitute blanket bond for lost, stolen, or destroyed certificates that the Bank may arrange and that has substan- tially the same coverage, and agrees that the coverage under any such blanket bond is acceptable to it and meets the City's requirements as to security or indemnity. The blanket bond utilized for the purpose of lost, stolen or destroyed certificates by the Bank shall be available for inspection by the City on request. Section 4.07. Transaction Information to the City. The Bank will, within a reasonable time after receipt of written request from the City, furnish the City information as to interest and principal payments it has made with respect to the Bonds, Bonds it has delivered upon the transfer or exchange of any Bonds pursuant to Section 4.01 and Bonds it has delivered in exchange for or in lieu of muti- lated, destroyed, lost or stolen Bonds pursuant to Section 4.06. 008RGDAl180BOl -5-