Laserfiche WebLink
<br /> <br /> <br /> <br /> <br /> <br /> any such portion thereof registered in the name of such <br /> assignee or assignees. Upon the assignment and transfer of <br /> any Bond or any portion thereof, a new substitute Bond or <br /> Bonds shall be issued in conversion and exchange therefor in <br /> the manner herein provided. The Initial Bond, to the extent <br /> of the unpaid or unredeemed principal balance thereof, may <br /> be assigned and transferred by the initial registered owner <br /> thereof once only, and to one or more assignees designated <br /> in writing by the initial registered owner thereof. All <br /> Bonds issued and delivered in conversion of and exchange for <br /> the Initial Bond shall be in any denomination or denomina- <br /> tions of any integral multiple of $5,000 (subject to the <br /> requirement hereinafter stated that each substitute Bond <br /> shall have a single stated principal maturity date), shall <br /> be in the form prescribed in the FORM OF SUBSTITUTE BOND set <br /> forth in this Ordinance, and shall have the characteristics, <br /> and may be assigned, transferred, and converted as herein- <br /> after provided. If the Initial Bond or any portion thereof <br /> is assigned and transferred or converted the Initial Bond <br /> must be surrendered to the Paying Agent/Registrar for <br /> cancellation, and each Bond issued in exchange for any <br /> portion of the Initial Bond shall have a single stated <br /> principal maturity date, and shall not be payable in in- <br /> stallments; and each such Bond shall have a principal <br /> maturity date corresponding to the due date of the install- <br /> ment of principal or portion thereof for which the substi- <br /> tute Bond is being exchanged; and each such Bond shall bear <br /> interest at the single rate applicable to and borne by such <br /> installment of principal or portion thereof for which it is <br /> being exchanged. If only a portion of the Initial Bond is <br /> assigned and transferred, there shall be delivered to and <br /> registered in the name of the initial registered owner <br /> substitute Bonds in exchange for the unassigned balance of <br /> the Initial Bond in the same manner as if the initial <br /> registered owner were the assignee thereof. If any Bond or <br /> portion thereof other than the Initial Bond is assigned and <br /> transferred or converted each Bond issued in exchange <br /> therefor shall have the same principal maturity date and <br /> bear interest at the same rate as the Bond for which it is <br /> exchanged. A form of assignment shall be printed or en- <br /> dorsed on each Bond, excepting the Initial Bond, which shall <br /> be executed by the registered owner or its duly authorized <br /> attorney or representative to evidence an assignment there- <br /> of. Upon surrender of any Bonds or any portion or portions <br /> thereof for transfer of registration, an suthorized repre- <br /> sentative of the Paying Agent/Registrar shall make such <br /> transfer in the Registration Books, and shall deliver a new <br /> fully registered substitute Bond or Bonds, having the <br /> characteristics herein described, payable to such assignee <br /> or assignees (which then will be the registered owner or <br /> owners of such new Bond or Bonds), or to the previous <br /> registered owner in case only a portion of a Bond is being <br /> assigned and transferred, all in conversion of and exchange <br /> 10 <br />