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<br />making of proper records regarding such payment, redemption, exchange or replacement. The Paying
<br />Agent/Registrar shall periodically furnish the City with certificates of destruction of such CertIficates.
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<br />(b) Each substitute Certificate issued pursuant to the provisions of Sections 3 06 and 3 08 of this
<br />Ordinance, in conversion of and exchange for or replacement of any Certificate or Certificates Issued under
<br />this Ordinance, shall have printed thereon a Paying Agent/RegIstrar's Authentication Certificate, in the form
<br />hereinafter set forth. An authonzed representative of the Paying Agent/RegIstrar shall, before the delivery
<br />of any such Certificate, manually sign and date such Certificate, and no such Certificate shall be deemed to
<br />be issued or outstandmg unless such Certificate is so executed. No additional ordinances, orders, or
<br />resolutions need be passed or adopted by the City Councilor any other body or person so as to accomplish
<br />the foregoing conversion and exchange or replacement of any Certificate or portion thereof, and the Paymg
<br />AgentIRegistrar shall provide for the printing, execution, and delivery of the substitute Certificates in the
<br />manner prescribed herein. Pursuant to Title 9, Tex. Gov't Code Ann., as amended, and particularly Chapter
<br />1201, Subchapter D thereof, the duty of conversion and exchange or replacement of Certificates as aforesaid
<br />is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of the above Paymg
<br />AgentIRegistrar's AuthentIcation Certificate, the converted and exchanged or replaced Certificates shall be
<br />valid, incontestable, and enforceable in the same manner and with the same effect as the Initial CertIficate
<br />which was originally delivered pursuant to this Ordinance, approved by the Attorney General, and registered
<br />by the Comptroller of PublIc Accounts.
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<br />(c) Certificates issued in conversion and exchange or replacement of any other Certificate or
<br />portion thereof, (i) shall be issued in fully registered form, without interest coupons, with the principal of
<br />and interest on such Certificates to be payable only to the registered owners thereof, (ii) may be redeemed
<br />prior to their scheduled matuntIes, (iIi) may be transferred and assigned, (iv) may be converted and
<br />exchanged for other CertIficates, (v) shall have the characteristics, (vi) shall be signed and sealed, and (vii)
<br />shall be payable as to pnncipal of and mterest, all as prOVIded, and m the manner required or indIcated, in
<br />the Form of Certificates set forth in this Ordinance.
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<br />Section 3 08 Replacement Certificates,
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<br />(a) Upon the presentation and surrender to the Paying Agent/RegIstrar, at the DeSIgnated
<br />Payment/Transfer Office, of a mutilated Certificate, the Paying Agent/Registrar shall authenticate and deliver
<br />in exchange therefor a replacement Certificate of like tenor and principal amount, beanng a number not
<br />contemporaneously outstanding. The City or the Paying Agent/ Registrar may require the Owner of such
<br />Certificate to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be
<br />imposed in connection therewith and any other expenses connected therewith.
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<br />(b) In the event that any Certificate is lost, apparently destroyed or wrongfully taken, the Paying
<br />AgentJRegistrar, pursuant to the applicable laws of the State of Texas and m the absence of notice or
<br />knowledge that such Certificate has been acquired by a bona fide purchaser, shall authenticate and deliver
<br />a replacement Certificate of like tenor and principal amount, bearIng a number not contemporaneously
<br />outstanding, provided that the Owner first:
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<br />(i) furnishes to the Paying Agent/Registrar satisfactory evidence of hIS or her ownership
<br />of and the circumstances of the loss, destruction or theft of such Certificate;
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<br />(ii) furnishes such security or indemnity as may be required by the Paying
<br />Agent/Registrar and the City to save them harmless,
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<br />San Marcos CTRCO 2005: Oed 12-07-2005
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