Laserfiche WebLink
The principal of and interest on the Notes shall be payable in lawful money of the United <br />States of America without deduction for the services of the Note Registrar. The principal of and <br />interest on the Notes shall be payable upon presentation and surrender of the Notes at their maturity <br />at the office of the Note Registrar. No Note shall be valid or become obligatory for any purpose <br />or shall be entitled to any security or benefit under this Ordinance unless and until a certificate of <br />authentication, as printed on the Note, is signed by the Note Registrar as authenticating agent. <br />Authentication by the Note Registrar shall be conclusive evidence that the Note so authenticated <br />has been duly issued and delivered under this Ordinance and is entitled to the security and benefit <br />of this Ordinance. The certificate of authentication may be signed by any officer or officers of the <br />Note Registrar or by such other person acting as an agent of the Note Registrar as shall be approved <br />by the Director of Finance on behalf of the City. It shall not be necessary that the same authorized <br />person sign the certificate of authentication on all of the Notes. <br />Section 9. Appointment of Note Registrar. The Director of Finance is authorized and <br />directed to execute on behalf of the City a Note Registrar Agreement with such bank or other <br />appropriate financial institution as shall be acceptable to the Director of Finance and the Original <br />Purchaser, pursuant to which such bank or financial institution shall agree to serve as authenticating <br />agent, note registrar, transfer agent, and paying agent (the "Note Registrar") for the Notes. Interest <br />shall be payable at maturity by check or draft mailed to the Registered Owner hereof, as shown on <br />the registration books of the City maintained by the Note Registrar. If at any time the Note <br />Registrar shall be unable or unwilling to serve as such, or the Director of Finance in such officer's <br />discretion shall determine that it would be in the best interest of the City for such functions to be <br />performed by another party, the Director of Finance may, and is hereby authorized and directed <br />to, enter into an agreement with a national banking association or other appropriate financial <br />institution experienced in providing such services, to perform the services required of the Note <br />Registrar hereunder. Each such successor Note Registrar shall promptly advise all noteholders of <br />the change in identity and new address of the Note Registrar. So long as any of the Notes remain <br />outstanding, the City shall cause to be maintained and kept by the Note Registrar, at the office of <br />the Note Registrar, all books and records necessary for the registration, exchange and transfer of <br />Notes as provided in this section (the "Note Register"). Subj ect to the provisions of this Ordinance, <br />the person in whose name any Note shall be registered on the Note Register shall be regarded as <br />the absolute owner thereof for all purposes. Payment of or on account of the principal of and <br />interest on any Note shall be made only to or upon the order of that person. Neither the City nor <br />the Note Registrar shall be affected by any notice to the contrary, but the registration may be <br />changed as herein provided. All payments shall be valid and effectual to satisfy and discharge the <br />liability upon the Notes, including the interest thereon, to the extent of the amount or amounts so <br />paid. <br />Any Notes, upon presentation and surrender at the office of the Note Registrar, together with <br />a request for exchange signed by the registered owner or by a person authorized by the owner to do <br />so by a power of attorney in a form satisfactory to the Note Registrar, may be exchanged for Notes <br />of the same form and of any authorized denomination or denominations equal in the aggregate to the <br />unmatured principal amount of the Notes surrendered, and bearing interest at the same rate and <br />maturing on the same date. <br />A Note may be transferred only on the Note Register upon presentation and surrender thereof <br />at the office of the Note Registrar, together with an assignment executed by the registered owner or <br />4 <br />