02 GO Refunding Bond Ordinance - Laserfiche WebLink

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xvith respect thereto. The Paying Agent/Registrar shall not be required to make transfers of registration of any Bond or any portion thereof (i) during the period commencing xvith the close of business on any Record Date and ending xvith the opening of business on the next folloxving principal or interest payment date, or, (ii) xvith respect to any Bond or any portion thereof called for redemption prior to maturity, xvithin 30 days prior to its redemption date. (b) Oxvnership of Bonds. The entity in xvhose name any Bond shall be registered in the Registration Books at any time shall be deemed and treated as the absolute oxvner thereof for all purposes of this Ordinance, xvhether or not such Bond shall be overdue, and the Issuer and the Paying Agent/Registrar shall not be affected by any notice to the contrary; and payment of, or on account of, the principal of, premium, if any, and interest on any such Bond shall be made only to such registered oxvner. All such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond to the extent of the sum or sums so paid. (c) Payment of Bonds and Interest. The Issuer hereby further appoints the Paying Agent/Registrar to act as the paying agent for paying the principal of and interest on the Bonds, and to act as its agent to convert and exchange or replace Bonds, all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper records of all payments made by the Issuer and the Paying Agent/Registrar xvith respect to the Bonds, and of all conversions and exchanges of Bonds, and all replacements of Bonds, as provided in this Ordinance. Hoxvever, in the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days thereafter, a nexv record date for such interest payment (a "Special Record Date") xvill be established by the Paying Agent/Registrar, if and xvhen funds for the payment of such interest have been received from the Issuer. Notice of the Special Record Date and of the scheduled payment date of the past due interest (xvhich shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each Bondholder appearing on the Registration Books at the close of business on the last business day next preceding the date of mailing of such notice. (d) Conversion and Exchange or Replacement; Authentication~ Each Bond issued and delivered pursuant to this Ordinance, to the extent of the unpaid or unredeemed principal balance or principal amount thereof, may, upon surrender of such Bond at the principal corporate trust office of the Paying Agent/Registrar, together xvith a xvritten request therefor duly executed by the registered oxvner or the assignee or assignees thereof, or its or their duly authorized attomeys or representatives, xvith guarantee of signatures satisfactory to the Paying Agent/Registrar, may, at the option of the registered oxvner or such assignee or assignees, as appropriate, be converted into and exchanged for fully registered bonds, xvithout interest coupons, in the form prescribed in the FORM OF SUBSTITUTE BOND set forth in this Ordinance, in the denomination of $5,000, or any integral multiple of $5,000 (subject to the requirement hereinafter stated that each substitute Bond shall have a single stated maturity date), as requested in xvriting by such registered oxvner or such assignee or assignees, in an aggregate principal amount equal to the unpaid or unredeemed principal balance or principal amount of any Bond or Bonds so surrendered, and payable to the appropriate registered oxvner, assignee, or assignees, as the case may be. If the Initial Bond is assigned and transferred or converted each substitute Bond issued in exchange for any portion of the Initial Bond shall have a single stated principal maturity date, and shall not be payable in installments; and each such Bond shall have a principal maturity date corresponding to the due date of the installment of principal or portion thereof for xvhich the substitute Bond is being exchanged; and each such Bond shall bear interest at the single rate applicable to and bome by such installment of principal or portion thereof for xvhich it is being exchanged.