R-1989-01 - Laserfiche WebLink

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e e hereby approved in all respects, and the President or Vice President and Secretary or Assistant Secretary of the Board 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 Authority expressly reserves the right to appoint one or more successor Paying Agent/Registrars by (1) filing with the Paying Agent/Registrar then serving a certified copy of a resolution or order giving notice of the termination of the Authority'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/Registrar 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. 2.09. Mutilated, Lost, Destroyed or Wrongfully Taken Bonds. If (1) any mutilated Bond is surrendered to the Paying Agent/Registrar, or (2) the Authority and the Paying Agent/Registrar receive evidence to their satisfac- tion of the destruction, loss or theft of any Bond, and (a) there is delivered to the Authority and the Paying Agent/ Registrar such security or indemnity as may be required by them to save each of them harmless and (b) the Authority 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 Authority shall execute and upon its request the Paying Agent/Registrar 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 2.09, the Authority 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 2.09 in lieu of any mutilated, destroyed, lost or stolen Bond shall constitute a replacement of the prior obligation of the Authority, 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 Resolution equally and ratably with all other outstanding Bonds. 038DESAJ/024C02 -10-