O-2005-2858 - Laserfiche WebLink

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Agent/Registrar shall authenticate and deliver in exchange therefor, within seventy-two (72) hours after such presentation, a new Obligation or Obligations, registered in the name of the transferee or transferees, in authorized denominations and of the same maturity and aggregate principal amount and bearing interest at the same rate as the Obligation or Obligations so presented and surrendered. All Obligations shall be exchangeable upon the presentation and surrender thereof at the office of the Paying Agent/Registrar for a Obligation or Obligations, maturity and interest rate and in any authorized denomination, in an aggregate principal amount equal to the unpaid principal amount of the Obligation or Obligations presented for exchange. The Paying Agent/Registrar shall be and is hereby authorized to authenticate and deliver exchange Obligations in accordance with the provisions of this Section. Each Obligation delivered by the Paying Agent/Registrar in accordance with this Section shall be entitled to the benefits and security of this Ordinance to the same extent as the Obligation or Obligations in lieu of which such Obligation is delivered. All Obligations issued in transfer or exchange shall be delivered to the Registered Owners thereof at the principal corporate trust office of the Paying Agent/Registrar or sent by United States mail, first class, postage prepaid. The City or the Paying AgentlRegistrar may require the Registered Owner of any Obligation to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection with the transfer or exchange of such Obligation. Any fee or charge of the Paying AgentlRegistrar for such transfer or exchange shall be paid by the City. Section 3.9: Replacement Obligations. Upon the presentation and surrender to the Paying AgentlRegistrar of a damaged or mutilated Obligation, the Paying AgentlRegistrar shall authenticate and deliver in exchange therefor a replacement Obligation, of the same maturity, interest rate and principal amount, bearing a number not contemporaneously outstanding. The City or the Paying AgentlRegistrar may require the Registered Owner of such Obligation to pay a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith and any other expenses connected therewith, including the fees and expenses of the Paying AgentlRegistrar and the City. If any Obligation is lost, apparently destroyed or wrongfully taken, the City, pursuant to the applicable laws of the State of Texas and ordinances of the City, and in the absence of notice or knowledge that such Obligation has been acquired by a bona fide purchaser, shall execute, and the Paying AgentlRegistrar shall authenticate and deliver, a replacement Obligation of the same maturity, interest rate and principal amount, bearing a number not contemporaneously outstanding, provided that the Registered Owner thereof shall have: (a) furnished to the City and the Paying AgentlRegistrar satisfactory evidence of the ownership of and the circumstances of the loss, destruction or theft of such Obligation; (b) furnished such security or indemnity as may be required by the Paying AgentlRegistrar and the City to save and hold them harmless; 8 HOU:2516661.4