Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1917-04-25
COUPON.

ssssssss sssssssssssssss
| Treasurer.
COUPON.
No. ........
On the ........ day of ............
the Getty, town, village, fire district, town
school district, or other school distriet)
in the State of Vermont promises to pay
to bearer, as provided in said bond, the
sum Of ......... dollars at the. ........
bank in the (city, town, or village) of
............, being .......... months
interest due that day on bond No. ......,
dated ........
....................
Treasurer.
REFUNDINC BONDS.
Sec. IL. A municipal corporation that
has outstanding and unpaid orders, notes,
bonds, or coupons, lawfully issued, may
issue other negotiable notes or bonds to
pay or retire the same.
Sec. IS. Such municipal corporation
by its legislative branch, by resolution
or ordinance, shall determine the neces-
sity for issuing refunding bonds, the
amount of legal outstanding indebted
ness to be refunded, what amount of
new notes or bonds shall be issued, at
what time and place they shall be pay
able, the rate of interest thereon and
when payable, the form Of bond, which
shall be substantially in the form pro-
vided in this act, and whether the bonds
shall be registered or have interest
coupons attached. Such new notes or
bonds shall not exceed in amount such
outstanding obligations, nor shall they
be used or sold except to provide means
for paying or retiring said outstanding
Indebtedness.
Sec. I6. Such bonds shall be signed,
sold, made payable, and mature in the
same manner as an original issue of
bonds of municipal corporation are
signed, sold, made payable, and mature,
as provided in this act.
Sec. II. The treasurer of the mt
E nicipal corporation shall keep a record of
, every note or bond issued under this
act, stating therein the number and de-
, nomination of each note or bond, when
: issued, and the rate of interest thereon,
and shall also keep record of payments
.. of interest or principal, and, If coupons
/, are taken up, shall record the fact and
, deface the same.
!, Sec. 49, When old notes or bonds are
. taken up, as provided in this act, the
!, treasurer of the municipal corporation
shall keep record of the same, and such
old notes and bonds shall be cancelled.
: Sec. 10. All ordinances or resolutions
r required by this act to be enacted by
' the legislative branch of municipal cor
poration shall be duly recorded in the
: Office of the clerk of said municipal cor
/ ,poration.
e REGISTERED OBLIGATIONS.
i Sec. 90 A municipal corporation, AZ
!, herein defined, may issue registered
u bonds, and If an original issue Of bonds
by such municipal corporation is regis.
j, tered, they shall be registered as herein.
u after provided.
! Sec. FL. A municipal corporation may
!, at the written request, duly aclnowl.
edged, of the owner or holder of one o,
). more bonds, promissory notes or certi6.
!, Gates of indebtedness issued by it ant
;; payable to bearer or to person or cor.
y poration named, or bearer, chance such
. bonds, notes or certificates into regis
y tered obligations, payable only to tn,
l" person or corporation whose name j!
=, properly endorsed thereon, as hereinafter
q provided
l. Sec. e. If it shall be determined by :
y municipal corporation to issue registered
!, bonds, then and in that event the legis
Il lative branch of the municipal corpora
+ ton shall direct the treasurer of sucl
e municipal corporation, as the case ma.
= be, to endorse upon the back of each o
+ such bonds over his official signature I
u certificate of registration in substantial,
y the form hereinafter provided, inserting
II In the appropriate places the date of suci
: registration, the name and address of tn
y registered holder, and his own sigma
IL ture as transfer agent, and thereafte
=. such bond shall be transferable only upol
.. the books of such municipality upol
y presentation to the treasurer thereo
rs with written assignment duly acknowl
Ct edged or proved.
~ Sec. 20. In case municipal corpora
oi ton shall have issued coupon bonds an
y the owner or holder thereof has re
y. quested that said bonds be changed t
10 registered bonds, as herein provided
~ then upon written request for sue
IS change, duly acknowledged. the treasure
~ OF such a municipal corporation shall
g It directed by the city council of tn
- city selectmen OF the town, school direc
81 tors OF the town school district, or othe
SC corresponding officers of the municips
81 corporation of which he is such treasures
sa as the case may be, cut off and destro
" the coupons on the bonds presented fo
l.s registration and endorse upon the bac
en- of each of such bonds over his ofici;
Oh signature a certificate of registration
substantially the following form, inser1
co g. ing in the appropriate places the dai
aS of such registration, the name and az
dress Of the registered holder, and hi
own signature as transfer agent. an
thereafter such bond shall be transfel
ct, able ONLY upon the books of such m,
is nicipality upon presentation to the treal
lty urer thereof with a written assigninci
mt duly acknowledged or proved.
on Sec. "a. In all cases where bonds a,
he registered the following shall be Ii
err form of
yer CERTIFICATE OF REGISTRATION
er- 1t is hereby certified that UPON II
in written request of the holder of Il
w. within bond, the coupons attached Their
he to, being ............ in number,
.......... each, have been this d:
IS cut. off and destroyed and that the with
ire bond is hereby converted into a regi
,er tered bond with the interest thereon pa
Ter able .........:. annually, and that SUI
ws interest, as we'll as the principal, is pa
md able to the registered holder thereof,
aid legal representatives, successors
WIN assigns at the time and place express,
ict. on the face of said bond
The The within bond when registered