HomeMy WebLinkAbout01777Section 18. In case any Bond or coupons of any Bonds
secured hereby shall be lost, stolen or destroyed, the city may
execute and the Trustee may authenticate and deliver a new bond
or bonds and a coupon or coupons of like date, number and tenor
to the holder thereof upon the holder's paying the expenses and
charges of the city and the Trustee in connection therewith and
upon his filing with the Trustee evidence satisfactory to it and
to the city that such Bond or coupons were actually lost,. stolen
or destroyed and of his ownership thereof, and upon furnishing
the city and the Trustee with indemnity satisfactory to them.
Section 19. All rights of action under this ordinance
or, under any of the Bonds or coupons may be enforced by the
Trustee without possession of the outstanding Bonds or
coupons or of any proceedings relative thereto. Any suit,
action, or other legal proceedings instituted by the Trustee
shall be brought in its own name as Trustee without making the
known or unknown holders of any of such Bonds or coupons a
party or parties thereto, and any recovery or judgment shall
be for the ratable benefit of the holders of the Bonds outstanding
and the coupons thereto attached.
Section 20. No holder of any of the Bonds shall be
entitled to institute any action whatsoever to enforce any rights
or remedies granted by this ordinance unless and until such
25.