RES 86181 - Laserfiche WebLink

National Trust and Savings Association, Corporate A~ency Division, P.O. Box 37000, San Francisco, CA 94137. Principal and interest shall he paid by check, draft or warrant mailed to the registered owner of each bond at the owner's address appearin~ on the re~ister maintained hy the registrar on the 15th day precedin~ the date of interest payment or maturity of each bond. ~_~9_~. REREGISTRATION. Any bond may he registered to a new owner hy completin~ the assignment certificate on the reverse of the bond and deliverin~ the bond to the registrar. Upon rere~istration, any bond may he replaced hy one or more bonds of the same maturity and a~re~ate amount in denominations of $5000 or any integral multiple thereof. ~$~$~_~. ~FJ~A~LT~. In the event of a default in the payment of any bond or any installment of interest thereon, bondholders shall have the remedies set forth in the Act. In addition, the City Council makes the followin~ covenants, which shall constitute a contract with the bondholders: ~jZ~D~_~i. ~ORECLOSURE OF LIENS. If any installment of the principal or interest of any reassessment levied in Eoll Center Refundin~ District No. 1986-6 becomes delinquent, the City Council shall cause an action to he filed in the Superior Court of the County of Alameda to foreclose the lien of the delinquent reassessment under the authority of Section 8830 and followin~ of the Streets and Highways Code of the State of California. This action shall he filed not later than one hundred fifty (150) days after the date of delinquency.