§ 3.30.060 Registrar – Appointment, powers and duties

3.30.060 Registrar – Appointment, powers and duties.

A. Appointment. Unless otherwise provided in the ordinance authorizing the issuance of registered bonds or obligations, the city treasurer shall be the registrar for all registered interest-bearing warrants, installment contracts, interest-bearing leases and other registered bonds or obligations not usually subject to trading without a fixed maturity date or maturing one year or less after issuance, and the fiscal agencies shall be the registrar for all other city bonds and obligations without a fixed maturity date or maturing more than one year after issuance.

1. The registrar shall serve as the city’s authenticating trustee, transfer agent, registrar and paying agent for all registered bonds and obligations for which he, she or it serves as registrar, and shall comply fully with all applicable federal and state laws and regulations respecting the carrying out of those duties.

2. The rights, duties, responsibilities and compensation of the registrar shall be prescribed in each ordinance authorizing the issuance of the bonds or obligations, which rights, duties, responsibilities and compensation shall be embodied in a contract executed by the city treasurer and the registrar, except that:

a. When the fiscal agencies serve as registrar, the city adopts by reference the contract between the State Finance Committee of Washington and the fiscal agencies in lieu of executing a separate contract and prescribing by ordinance the rights, duties, obligations and compensation of the registrar; and

b. When the city treasurer serves as registrar, a separate contract shall not be required.

3. In all cases when the registrar is not the fiscal agencies and the bonds or obligations are assignable, the ordinance authorizing the issuance of the registered bonds or obligations shall specify the terms and conditions of:

a. Making payments of principal and interest;

b. Printing any physical instruments, including the use of identifying numbers or other designation;

c. Specifying record and payment dates;

d. Determining denominations;

e. Establishing the manner of communicating with the owners of the bonds or obligations;

f. Establishing the methods of receipting for the physical instruments for payment of principal, the destruction of such instruments, and the certification of such destruction;

g. Registering or releasing security interest, if any; and

h. Such other matters pertaining to the registration of the bonds or obligations authorized by such ordinance as the city may deem to be necessary or appropriate.