Ordinance 2004-1437 - Laserfiche WebLink

Home Browse Search

previously assigned. If such lost, stolen, destroyed, or mutilated Bond shall have matured or is about to become due and payable, the Registrar may direct the Paying Agent to pay such Bond in lieu of replacement. D. The officers of the City are authorized to deliver to the Registrar fully executed but unauthenticated Bonds in such quantities as may be convenient to be held in custody by the Registrar pending use as herein provided. E. Whenever any Bond shall be surrendered to the Paying Agent upon payment thereof, or to the Registrar for transfer, exchange or replacement as provided herein, such Bond shall be promptly cancelled by the Paying Agent or Registrar, and counterparts of a certificate of such cancellation shall be furnished by the Paying Agent or Registrar to the City. Section 11. Book Entry. A. Notwithstanding any contrary provision of this Ordinance, the Bonds shall initially be evidenced by one or more Bonds for each maturity bearing the same rate of interest in denominations equal to the aggregate principal amount of the Bonds for that maturity bearing the same rate of interest. Such initially delivered Bonds shall be registered in the name of "Cede & Co." as nominee for DTC, the securities depository for the Bonds. The Bonds may not thereafter be transferred or exchanged except: (1) to any successor of DTC or its nominee, which successor must be both a "clearing corporation" as defined in Section 4-8-102(3), C.R.S. and a qualified and registered "clearing agency" under Section 17 A of the Securities Exchange Act of 1934, as amended; or (2) upon the resignation of DTC or a successor or new depository under clause (1) or this clause (2) of this paragraph (a), or a determination by the City Council that DTC or such successor or new depository is no longer able to carry out its functions, and the designation by the City Council of another depository institution acceptable to the City Council and to the depository then holding the Bonds, which new depository institution must be both a "clearing corporation" as defined in Section 4-8-102(3), C.R.S. and a qualified and registered "clearing agency" under Section 17 A of the Securities Exchange Act of 20