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THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

THE LAKEWOOD CITY COUNCIL CHAMBERS OCTOBER 18 2010 ...

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on behalf ofthe City The same person need not sign the certificate ofauthentication on all ofthe<br />

Bonds<br />

Section 5 RPistration Transfer and Exchange Book Entry System<br />

a Bond Registrar So long as any ofthe Bonds remainoutstanding the Citywill cause<br />

the Bond Registrar tomaintain and keep the Bond Register at its designated corporate trust office<br />

Subject to the provisions of Section5c the person in whose name a Bond is registered on the<br />

Bond Register shall be regarded as the absolute owner of that Bond for all purposes ofthe Bond<br />

proceedings Payment ofor on account ofthe debt chazges on any Bond shall be made only to or<br />

upon the order ofthat person neither the Citynorthe Bond Registraz shall be affected by any notice<br />

to the contrary butthe registration maybe changed as provided in this Section All such payments<br />

shall be valid and effectual to satisfy and discharge the City sliability upon the Bond including<br />

interest to the extent oftheamount or amounts so paid<br />

b Transfer and Exchange Any Bond maybe exchanged forBonds ofany Authorized<br />

Denomination upon presentation and surrender at the designated corporate trust office ofthe Bond<br />

Registrar together with a request for exchange signed bytheregistered owneror by a personlegally<br />

empowered to do so in a form satisfactory to the Bond Registrar A Bond may be transferred only<br />

on the Bond Register upon presentation and surrender ofthe Bond at the designated corporate trust<br />

office of the Bbnd Registrar together with an assignment signed by the registered owner or by a<br />

person legally empowered todo so in a form satisfactory to the BondRegistrar Upon exchange or<br />

transfer the Bond Registraz shall complete authenticate and deliver anew Bond or Bonds of any<br />

Authorized Denomination or Denominations requested by the owner equal in the aggregate to the<br />

unmatured principal amount of the Bond surrendered and bearing interest at the same rate and<br />

maturing on the same date<br />

If manual signatures on behalfofthe City are required the Bond Registrar shall undertake<br />

the exchange or transfer ofBonds only after the new Bonds are signed by the authorized officers of<br />

the City In all cases ofBonds exchanged or transferred the City shall provide forsigning and the<br />

Bond Registrar shall authenticate and deliver Bonds in accordance with the provisions ofthe Bond<br />

proceedings The exchange or transfer shall be without charge to the owner except that the City<br />

and Bond Registrar may make a chazge sufficient to reimburse them for any tax or other<br />

governmental charge required to be paid with respect tothe exchange or transfer The City or the<br />

Bond Registrar may require that those charges if any be paidbefore the procedure is begun for the<br />

exchange or transfer All Bonds issued and authenficated upon any exchange or transfer shall be<br />

valid obligations ofthe City evidencingthe samedebt and entitled to the same security and benefit<br />

under the Bond proceedings as the Bonds surrendered upon that exchange or transfer Neither the<br />

City nor the Bond Registraz shall be required to make any exchange or transfer ofi Bonds then<br />

subject to call for redemption between the 15th daypreceding the mailing ofnotice ofBonds to be<br />

redeemed and the date ofthat mailing or iianyBond selected forredemption in whole or in part<br />

c BookEntry System The Bonds maybe issued to a Depository for use ui a bookentry<br />

systemand ifand as long as abook entry system is utilizedithe Bonds maybe issued in the form<br />

of a single fully registered Bond representing each maturity and registered in the name of the<br />

Depository or its nominee as registered owner and immobilized in thecustodyofthe Depository or<br />

U<br />

10

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