52-91 Gen Provisions - Sanitary Sewer Spec Oblig Bonds

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( í same benefits under this General Bond Legislation and the applicable Series Legislation, as the Bonds surrendered upon transfer or exchange. The Registrar shall not be required to make any exchange or transfer of a Bond during a period beginning at the opening of business 15 days before the day of the mailing of a notice of redemption of Bonds and ending at the close of business on the day of such mailing or to transfer or exchange any Bonds selected for redemption, in whole or in part. In case any Bond is redeemed in part only, on Qr after the redemption date and upon presentation and surrender of such BQnd, the Registrar Shall authenticate and deliver a new Bond or Bonds of the same series in authorized denominations in an aggregate principal amount equal to the unmatured and unredeemed portion of, and bearing interest at the same rate and maturing on the same date or dates as, the Bond redeemed in part. Section 6. Nonpresentment of Bonds or Notes. In the event any Bond shall not be presented for payment ",hel) the principal thereof becQmes due, either at maturity, at the date fixed for redemption thereof, or otherwise, or in the event any Note shall not be presented for payment at the due date thereof, if funds sufficient to pay such BOl)d or Note shall have been made available to the Fiscal Agent for the benefit of the Holder or Holders thereof, all liability of the Issuer to the Holder thereof for the payment of such Bond or Note, as the case may be, shall thereupon cease and be completely discharged, and it shall be the duty of the Fiscal Agent to hold such funds, without liability for il)terest thereon, in a separate account of the Debt Service Fund for the benefit of the Holder of such Bond, or the Holder of such Note, as the case may be, who shall thereafter be restricted exclusively to such funds for any claim of whatever nature 01) his part under this Ordinance or on, or with respect to, said Bond or Note; provided that any funds which shall be so held by the Fiscal Agent and which remain unclaimed by the Holder Qf the Bond or Note not presented for payment for a period of four years after such due date thereof, shall upon request in writing by the Issuer be returned by the Fiscal Agent to the IsSuer for credit to the Bond Retirement Fund or sinking Fund free of al)y special claim of such Holder and thereafter the Holder of such Bond or Note shall look only to the Issuer for payment without any interest thereon, and the Fiscal Agent shall have no further responsibility with respect to such moneys. Section 7. Exceptions to Future Use of General Bond Leaislation. Nothing contained in this General Bond LegislatiQn or any Series Legislation shall require that any subsequent issuance of bOl)ds or notes by the Issuer for the purposes described herein or otherwise be authorized and issued pursuant to Series Legislation passed under and based upon this General Bond Legislation. Any Series Legislation passed by the Legislative Authority subsequent to the passage of this Ordinance may adopt this Ordinance by reference to this Ordinance by ordinance number and, if known, date of passage without restating this Ordinal)ce therein and without attaching this Ordinance thereto; and, subject to Sections 3(a)(x) or (3)(b)(iii) hereof, as applicable, any Series Legislation adopting this Ordinance by reference may include additional provisions to or substitute provisions for those contained in this Ordinance, which additional or substitute provisions shall be set forth in full in such subsequent Series Legislation. This General Bond Legislation may be amended from time to time, however, such amendment shall not affect the continuing effectiveness of the provisions of this Ordinance which were adopted by reference in Series Legislation, and the provisions of this Ordil)ance as in effect at the time of the adoption by reference shall apply to such Series Legislation throughout the life of the Bonds or Notes issued thereunder, except as this Section 7 and section 38 of this General Bond Ordinance may permit amendments, modifications, revisions or changes to such provisions. -11-