62-092 - Laserfiche WebLink

Home Browse Search

Section 13. Lost, Stolen, Destroyed or Mutilated Bonds. In the event that any bond or any interest coupon pertaining thereto is lost, stolen, destroyed or mutilated, the city will cause to be issued a new bond or coupon similar to the original to replace the same in such manner and upon such reasonable terms and conditions, including the payment of costs and the posting of a surety bond ii the city deems such surety bond necessary, as may from time to time be determined and prescribed by resolution. The city may authorize such new bond or coupon or coupons to be signed and authenticated in such manner as it determines in said resolution. Section 14. Cancellation of Bonds. All bonds and coupons surrendered to the Director of Finance or any paying agent of the city for payment upon maturity or for redemption shall upon payment therefor be cancelled immediately and in the case of any paying agent said coupon shall be forthwith transmitted to the Director of Finance. Any bonds purchased by the city as authorized herein together with all unpaid coupons pertaining thereto shall be cancelled forthwith and shall not be reissued. All of the cancelled bonds and interest coupons shall remain in the custody of the Director of Finance until destroyed pursuant to due authorization. Section 15. Consent of Bondholders. The consents of bondholders provided for in this section shall relate solely to the amendment, waiver or modification of the covenants specified in Section 12 hereof and shall not be effective to waive or modify any other provisions of this resolution or any other proceedings for the issuance of said bonds. Any act relating to the amendment, waiver or modification of any of the said covenants consented to by bondholders holding sixty-six per cent (66°~) in aggregate principal amount of the outstanding bonds, exclusive of bonds, if any owned by the city, shall be binding upon the holders of all of the bonds and interest coupons, whether such coupons be attached to bonds or detached therefrom, and shall not be deemed an infringe- ment of any of the provisions of this resolution, whatever the character of such act may be, and may be done and performed as fully and freely as if expressly permitted by the terms of this resolution, and after such consent relating to such specified matters has been given, no bondholder or holder of any interest coupon, whether attached to a bond or detached therefrom, shall have any right or interest to object to such action or in any manner to question the propriety thereof or to enjoin or restrain the city or any officer thereof from taking any action pursuant thereto. Bondholders may consent by affirmative vote at a bondholders' meeting or may consent in writing without a meeting, all as hereinafter provided. No such amendment, waiver or modification shall be made which will permit (a) a change in the maturity or term of redemption of the principal of any bond or any installment of interest thereon; (b) a reduction in the principal amount of or redemption price or redemption premium or rate of interest upon any bond without the consent of the holder of such bond; or (c) a reduction of the percentage of the principal amount of bonds the vote or consent of which is required to effect any such amendment. (a) Calling Bondholders' Meeting. If the city shall desire to obtain any such consent it may call a meeting of bondholders, by resolution, for the purpose of considering the action, the consent to which is desired. (b) Notice of Meeting. Notice specifying the purpose, place, date and hour of such meet- ing shall be published once in a financial newspaper or journal of national circulation pub- lished in the City of New York, New York, not less than sixty (60) days and not more than ninety (99) days prior to the date fixed for the meeting. Such notice shall set forth the nature of the proposed action, consent to which is desired. If any of the bonds shall be so registered as to be payable otherwise than to bearer, the Clerk shall, on or before the first publication of such notice, mail a similar notice, postage prepaid, to the respective registered owners thereof at their addresses appearing on the bond registry books. The place, date and hour 14