Laserfiche WebLink
<br />tered owner thereof once only, and to one or more assignees designated in writing by the initial <br />registered owner thereof. All Certificates of Obligation issued and delivered in conversion of and <br />exchange for the Initial Certificate of Obligation shall be in any denomination or denominations of <br />any integral multiple of $5,000 (subject to the requirement hereinafter stated that each substitute <br />Certificate of Obligation shall have a single stated principal maturity date), shall be in the form <br />prescribed in the FORM OF SUBSTITUTE CERTIFICATE OF OBLIGATION set forth in this <br />Ordinance, and shall have the characteristics, and may be assigned, transferred, and converted as <br />hereinafter provided. If the Initial Certificate of Obligation or any portion thereof is assigned and <br />transferred or converted the Initial Certificate of Obligation must be surrendered to the Paying <br />Agent/Registrar for cancellation, and each Certificate of Obligation issued in exchange for any <br />portion of the Initial Certificate of Obligation shall have a single stated principal maturity date, and <br />shall not be payable in installments; and each such Certificate of Obligation shall have a principal <br />maturity date corresponding to the due date of the installment of principal or portion thereof for <br />which the substitute Certificate of Obligation is being exchanged; and each such Certificate of <br />Obligation shall bear interest at the single rate applicable to and borne by such installment of <br />principal or portion thereof for which it is being exchanged. If only a portion of the Initial Certifi- <br />cate of Obligation is assigned and transferred, there shall be delivered to and registered in the name <br />of the initial registered owner substitute Certificates of Obligation in exchange for the unassigned <br />balance of the Initial Certificate of Obligation in the same manner as if the initial registered owner <br />were the assignee thereof. If any Certificate of Obligation or portion thereof other than the Initial <br />Certificate of Obligation is assigned and transferred or converted each Certificate of Obligation <br />issued in exchange therefor shall have the same principal maturity date and bear interest at the same <br />rate as the Certificate of Obligation for which it is exchanged. A form of assignment shall be printed <br />or endorsed on each Certificate of Obligation, excepting the Initial Certificate of Obligation, which <br />shall be executed by the registered owner or its duly authorized attorney or representative to <br />evidence an assignment thereof. Upon surrender of any Certificates of Obligation or any portion or <br />portions thereof for transfer of registration, an authorized representative of the Paying <br />Agent/Registrar shall make such transfer in the Registration Books, and shall deliver a new fully <br />registered substitute Certificate of Obligation or Certificates of Obligation, having the characteristics <br />herein described, payable to such assignee or assignees (which then will be the registered owner or <br />owners of such new Certificate of Obligation or Certificates of Obligation), or to the previous <br />registered owner in case only a portion of a Certificate of Obligation is being assigned and <br />transferred, all in conversion of and exchange for said assigned Certificate of Obligation or <br />Certificates of Obligation or any portion or portions thereof, in the same form and manner, and with <br />the same effect, as provided in Section 6( d), below, for the conversion and exchange of Certificates <br />of Obligation by any registered owner of a Certificate of Obligation. The Issuer shall pay the Paying <br />Agent/Registrar's standard or customary fees and charges for making such transfer and delivery of <br />a substitute Certificate of Obligation or Certificates of Obligation, but the one requesting such <br />transfer shall pay any taxes or other governmental charges required to be paid with respect thereto. <br />The Paying Agent/Registrar shall not be required to make transfers of registration of any Certificate <br />of Obligation or any portion thereof (i) during the period commencing with the close of business on <br />any Record Date and ending with the opening of business on the next following principal or interest <br /> <br />10 <br />