Ordinance 1915-188 - Laserfiche WebLink

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Section 3. That said bonds shall be payable to bearer, or to the registered owner thereof, at the option of the owner. Any bond payable to bearer may be registered as payable to the registered owner upon presentation thereof to the payable Treasurer at his office in the Town Of Louisville , at any time during office hours, and delivery to him of a written request therefor signed by the Owner and designating the name and address for registry. Thereupon the Town Treasurer shall record in the book of registry of the Town of Louisville appropriate for the purpose, the number of each bond so presented, its principal amount , the number of coupons attached thereto, the name and address of the owner and the date of regis- tration, and shall attest such registration by his official sig- nature. He shall also note on each bond, in the blank prepared for that purpose , the name and address of the owner and the date of registration and shall attest the same by his official signa- ture. No transfer of any bond so made payable to the registered owner thereof shall be valid, or recognized by the Town of Louis- ville for any purpose, unless made on said book of registry. The Town Treasurer, upon presentation to him as aforesaid of any bond so registered, and upon delivery to him of a written request for transfer, duly signed and acknowledged by both parties thereto, or by the transferor if to bearer, and specifying whether transfer is desired to bearer, or to the person whose name and address are designated therein, or upon production to him of such other evid- ence of transfer as may be satisfactory to him, shall in like man- ner and detail record in said book of registry the transfer, of said bond for the then registered owner to the person whose name and address are so designated, specifying the same, or to bearer, as the case may be, and the date of registered transfer, and shall attest the same, with his official signature. He shall also make corresponding notation in the blank on said bond and attest the same with his official signature. Any bond after registered trans- fer to bearer shall be transferable as if unregistered until again made payable to registered owner as above provided. Registration of the bond shall not restrain negotiability of the coupons by delivery merely. The Town Treasurer may also not on said book of registry any change of address of the registered owner upon request therefor satis- ' factory to him. Section 4. That when said bonds have been duly executed as afore- said, all Of said bonds , or so many thereof as may be necessary to raise funds for the extension and improvement of said water- works system by the erection and construction of a filter, shall be sold and delivered to the purchaser thereof, and the funds realized from the sale of said bonds shall be applied solely to the purpose aforesaid, of the extension and improvement of water- works for fire and domestic purposes within and for said town, and for no other _purpose whatsoever, but the purchaser, of said bonds shall in no manner be responsible for the application or disposal by ,said town, or . any co its officers, of any of the funds, derived from the sale thereof.