Cost of bond registration, transfer or exchange; miscellaneous provisions governing transfers and exchanges.
Wilmington City Code § 2-443
in effectSec. 2-443. - Cost of bond registration, transfer or exchange; miscellaneous provisions governing transfers and exchanges.
(a) Registration, transfer, discharges from registration, and exchanges of bonds authorized under this division shall be without expense to the holders of such bonds, but any taxes or other governmental charges required to be paid with respect to the same shall be paid by the holder requesting any such transaction, as a condition precedent to the exercise of such privilege.
(b) The city shall not be required to make:
(1) Any exchange or transfer of any bonds during the period of 15 business days next preceding any interest payment date for such bonds; or
(2) Any exchange or transfer of any bonds during the period of 20 business days next preceding the first publication or mailing of any notice of redemption of such bonds.
(c) All bonds surrendered for exchange and the coupons, if any, attached thereto and all registered bonds without coupons surrendered for transfer, shall be canceled as to the principal thereof and the coupons as they severally become due and payable and thereafter shall be cremated, shredded or otherwise destroyed by the fiscal agent.
(d) All bonds executed, authenticated and delivered in exchange for bonds surrendered or upon the transfer of registered bonds shall be valid obligations of the city, evidencing the same debt as the bonds surrendered and shall be secured by this division to the same extent as such surrendered bonds.
(Code 1968, § 30-94)
Source: City of Wilmington, Delaware, City Code, City Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/de/wilmington/codes/code_of_ordinances?nodeId=PTIIWICO_CH2AD_ARTVIFI_DIV7GEOBBO_S2-443COBORETREXMIPRGOTREXFetched: 11/6/2026