Ordinances-1975-68

registered, and after such registration payment of the principal thereof shall be made only to the registered holder. Any bond so registered, upon the request in writing of such holder personally or by attorney-in-fact, may be transferred either to a designated transferee or to bearer, and the principal of any bond so transferred and registered to bearer shall thereupon be and become payable to bearer in like manner as if such bond had never been registered. Registration of any bonds as to principal shall not restrain the negotiability of the coupons thereto attached by delivery merely. Section 3. That said bonds, coupons and provisions for registration be in substantially the following form: (Form of Bond) UNITED STATES OF AMERICA STATE OF IOWA COUNTY OF JOHNSON TOWN OF TIFFIN (ALSO KNOWN AS THE CITY OF TIFFIN) SEWER BOND No. _______ $1000 KNOW ALL MEN BY THESE PRESENTS: That the Town of Tiffin (also known as the City of Tiffin), in the County of Johnson and State of Iowa, for value received, promises to pay to bearer, or if this bond be registered as to principal, to the registered holder here the sum of One Thousand Dollars ($1000) on the first day of June, 19__, with interest on said sum from the date hereof at the rate of __________________________ per cent (______) per annum, payable June 1, 1975, and semiannually thereafter on the first days of December and June in each year until said principal sum is paid, all such interest as may accrue on and prior to the maturity of this bond to be paid on presentation and surrender of the interest coupons.