2003 Resolutions - Laserfiche WebLink

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surrendered and of the same form and maturity and bearing interest at the same rate as the Bond surrendered, subject in each case to such reasonable regulations as the City and the Bond Registrar may prescribe. All Bonds presented for transfer or exchange shall be accompanied by a written instrument or instruments of transfer or authorization for exchange, in form and substance reasonably satisfactory to the City and the Bond Registrar, duly executed by the registered owner or by his or her duly authorized attorney-in-fact or legal representative. No Bond may be registered to bearer. New Bonds delivered upon any transfer or exchange shall be valid obligations of the City, evidencing the same debt as the Bonds surrendered, shall be secured by this Resolution and entitled to all of the security and benefits hereof to the same extent as the Bonds surrendered. 10. Charges for Exchange or Transfer. No charge shall be made for any exchange or transfer of Bonds, but the City may require payment by the registered owner of any Bond of a sum sufficient to cover any tax or other governmental charge which may be imposed w/th respect to the transfer or exchange of such Bond. 11. .Refunding of Prior Bonds If it is determined by the City Manager and the Chief Financial Officer, or either of them, to be in the best interest of the City, the City Manager and the Chief Financial Officer, or either of them, is authorized to (a) approve the issuance of the Bonds and the aggregate principal amount of such Bonds (not to exceed the maximum amount set forth in paragraph 1) sufficient~to provide for the redemption or payment at maturity of such maturities of the Prior Bonds as such officer or officers may determine and to provide for the redemption of such portion of the Prior Bonds and (b) enter into an Escrow Agreement with an escrow agent to be selected by the Chief Financial Officer providing for the deposit and -6-