72-88 Amend 51-88 Water System Improvement BAN

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of the date of its authentication; provided, however, that if at the time of authentication interest is in default, such Bond shall be dated as of the date to which interest has been paid. Any Bond, upon surrender thereof at the princi- pal corporate trust office of the Registrar, together with an assignment duly executed by the Holder or his duly authorized attorney in such form as shall be satis- factory to the Registrar, at the option of the Holder thereof, may be exchanged for Bonds of any authorized denomination or denominations in an aggregate principal amount not exceeding the principal amount of the Bond so exchanged, and bearing interest at the same rate and maturing on the same date. Any Bond, at no cost to the Holder, may be transferred only upon the books kept for the registration and transfer of Bonds, upon surrender thereof at the principal corporate trust office of the Registrar to- gether with an assignment duly executed by the Holder or his duly authorized attorney in such form as shall be satisfactory to the Registrar. Upon the transfer of any such Bond and on request of the Registrar, the City shall execute in the name of the transferee, and the Registrar shall authenticate and deliver', a new Bond, of any au- thorized denomination, in aggregate principal amount equal to the principal amount of such Bond, and bearing interest at the same rate and maturing on the same date. In all cases in which Bonds shall be exchanged or transferred, the City shall, execute and the Registrar shall authenticate and deliver Bonds in accordance with the provisions of this Ordinance. The City and Registrar may make a charge for every such exchange (but not for any such transfer) of Bonds sufficient to reimburse them for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer, and the City and the Registrar may charge a sum sufficient to reimburse them for all other costs and expenses incurred in connection with such exchange, and such charge or charges shall be paid before any such new Bond shall be delivered." Section 3. Existing Sections 2 and 3 of said Ordinance No. 51-88 shall be, and hereby are, repealed. Section 4. The Clerk of Council is hereby directed to forward a certified copy of this ordinance to the County Auditor. Section 5. It is found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and any of its committees that resulted in such formal action were in meetings open to the public in compliance -5-