1983_Ordinances - Laserfiche WebLink

Home Browse Search

transferred, on the books of registry the Bonds as hereinbefore set forth. The books of registry shall at all times be open for inspection by the City or any duly authorized officer thereof. • Any Bond may be exchanged at the principal office of the registrar for such series of Bonds for a like aggregate principal amount of such Bonds in other authorized principal sums of the same series, interest rate and maturity. Any Bond of any series may, in accordance with its terms, be transferred upon the books of registrar by the person in whose name it is registered, in person or by his duly authorized agent, upon surrender of such Bond to the registrar for such series of cancellation, accompanied by a written instrument of transfer duly executed by the registered owner in person or his duly authorized agent, in form satisfactory to the registrar. All transfers or exchanges pursuant to this Section shall be made without expense to the holder of such Bonds, except as otherwise herein provided, and except that the registrar for such series of Bonds shall require the payment by the holder of the Bond requesting such transfer or exchange of any tax or other governmental charges required to be paid with respect to such transfer or exchange. All Bonds surrendered pursuant to this Section shall be cancelled. • 6. CUSIP identification numbers may be printed on the Bonds, but no such number shall constitute a part of the contract evidenced by the particular Bonds upon which it is printed and no liability shall attach to the City or any officer or agent thereof (including any paying agent for the Bonds) by reason of such numbers or any use made thereof (including any use thereof made by the City, any such officer or any such agent) or by reason of any inaccuracy, error or omission with respect thereto or in such use. All expenses in relation to the printing of such numbers on the Bonds shall be paid by the City; provided, however, the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsibility of and shall be paid for by the purchaser of the Bonds. • 7. The City shall make no use of the proceeds of the sale of the Bonds which would cause the Bonds to be "arbitrage bonds" under Section 103(c) of the U.S. Internal Revenue Code of 1954, as amended, and the City shall comply with the applicable Treasury Regulations adopted under such Section 103(c) so long as any Bond is outstanding. 8. The proceeds of the sale of the Bonds shall be applied to the payment of the cost of acquiring, con- -5-