O-1988-1595 - Laserfiche WebLink

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e - for exchange, the Authority shall execute, and the Paying Agent/Registrar shall authenticate and deliver, the Bonds which the registered owner of the Bond rnaking the exchange is entitled to receive. All Bonds issued upon any transfer or exchange of any Bond shall be the valid obligations of the Authority, evidencing the same debt and entitled to the same benefits under this Resolution, as the Bond surrendered upon such transfer or exchange. Every Bond presented or surrendered for transfer or exchange shall be duly endorsed, or be accompanied by a written instrurnent of transfer in form satisfactory to the Paying Agent/Registrar duly executed, by the registered owner thereof or his attorney duly au- thorized in writing. No service charge shall be made to the registered owner for any registration, transfer or exchange of Bonds, but the Authority or the Paying Agent/Registrar may require payment of a surn sufficient to cover any tax or other governmental charge that rnay be irnposed in connection with any transfer or exchange of Bonds. Neither the Authority nor the Paying Agent/Registrar shall be required to transfer or exchange any Bond during the period of 15 days next preceding any interest payment date or to transfer or exchange any Bond during the 30-day period prior to the date set for redemption of such Bond. 2.06. Ownership of the Bonds. The Authority, the Paying Agent/Registrar and any other person may treat the individual, firm or corporation in whose narne any Bond is registered on the Bond Register as the absolute owner of such Bond for the purpose of making and receiving payment of the principal thereof and interest thereon and for all other purposes, whether or not such Bond is overdue, and neither the Authority nor the Paying Agent/Registrar shall be bound by any notice or knowledge to the contrary. All payments made to any such person, firm or corporation deerned to be the owner of any Bond in accordance with this Section 2.06 shall be valid and effectual and shall discharge the liabil- ity of the Authority and the Paying Agent/Registrar to the extent of the sums paid. 2.07. Execution of the Bonds. The Bonds shall be executed on behalf of the Authority by the President or Vice President of the Board under the seal of the Authority attested by the Secretary or Assistant Secretary of the Board. Each such signature may be manually executed or placed in facsimile on the Bonds, and the Authority's seal may be manually impressed, printed or otherwise placed on the Bonds. Bonds receiving the manual or facsirnile signa- tures of individuals who were at the time the duly elected or appointed officers of the Authority shall be binding upon 022DESAO/024C04 -8-