Sec. 2-264. - Replacement of bonds and bond coupons—authorized; costs; collection of fees.
(a) The city is authorized by Chapter 1206 of the Texas Government Code and Section 8.405, Texas Business and Commerce Code, as amended, to issue a replacement bond for any bond theretofore lawfully issued and which is outstanding to replace, without an election, any such bond which has been destroyed, lost or stolen, upon receipt by the city of an indemnity satisfactory to the city together with an affidavit satisfactory to the city to establish proof of ownership and the circumstances of the loss, theft, destruction, mutilation or damage of such bond.
(b) The costs incurred by the city in issuing a replacement bond or bond coupon include personnel costs of the city secretary's, city controller's and city attorney's offices for time consumed in processing requests for replacements, research costs, managerial costs for review and signing all required documents, and legal fees.
(c) The city attorney shall levy and collect a fee, as set out in the fee schedule below, for the replacement of bonds and bond coupons. The fees shall be collected by the city attorney and transferred to the city controller for deposit in the city's general fund. All relevant records and the original transcript pertaining to the replacement bond or coupon shall be delivered to the city controller.
(Ord. No. 88-30, § 1, 1-6-88; Memorandum of 9-12-2012; Ord. No. 2016-909, § 1, 11-30-2016)