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<br />that is authorized to be imposed in connection with the registration, transfer, exchange or conversion of a
<br />Bond. In addition, the City hereby covenants with the Owners of the Bonds that it will (i) pay the reasonable
<br />and standard or customary fees and charges of the Paying Agent/Registrar for its services with respect to the
<br />payment of the principal of and interest on the Bonds, when due, and (ii) pay the fees and charges of the
<br />Paying Agent/Registrar for services with respect to the transfer, registration, conversion and exchange of
<br />Bonds as provided herein.
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<br />(f) Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange any
<br />Bond called for redemption, in whole or in part, within 45 days of the date fixed for redemption; provided,
<br />however, such limitation shall not be applicable to an exchange by the Owner of the uncalled balance of a
<br />Bond.
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<br />Section 3.07. Cancellation and Authentication.
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<br />(a) All Bonds paid or redeemed before scheduled maturity in accordance with this Ordinance,
<br />and all Bonds in lieu of which exchange Bonds or replacement Bonds are authenticated and delivered in
<br />accordance with this Ordinance, shall be canceled and destroyed upon the making of proper records
<br />regarding such payment, redemption, exchange or replacement. The Paying Agent/Registrar shall
<br />periodically furnish the City with certificates of destruction of such Bonds.
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<br />(b) Each substitute Bond issued pursuant to the provisions of Sections 3.06 and 3.09 of this
<br />Ordinance, in conversion of and exchange for or replacement of any Bond or Bonds issued under this
<br />Ordinance, shall have printed thereon a Paying AgentJRegistrar's Authentication Certificate, in the form
<br />hereinafter set forth. An authorized representative of the Paying AgentJRegistrar shall, before the delivery
<br />of any such Bond, manually,sign and date such Certificate, and no such Bond shall be deemed to be issued
<br />or outstanding unless such Certificate is so executed. No additional ordinances, orders, or resolutions need
<br />be passed or adopted by the City Councilor any other body or person so as to accomplish the foregoing
<br />conversion and exchange or replacement of any Bond or portion thereof, and the Paying Agent/Registrar
<br />shall provide for the printing, execution, and delivery of the substitute Bonds in the manner prescribed
<br />herein, and said Bonds shall be of customary type and composition and be printed on paper with lithographed
<br />or steel engraved borders of customary weight and strength. Pursuant to Tex. Gov't Ann. ch. 1201, as
<br />amended, and particularly subchapter D thereof, the duty of conversion and exchange or replacement of
<br />Bonds as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of the above
<br />Paying Agent/Registrar's Authentication Certificate, the converted and exchanged or replaced Bonds shall
<br />be valid, incontestable, and enforceable in the same manner and with the same effect as the Initial Bond
<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) Bonds issued in conversion and exchange or replacement of any other Bond or portion
<br />thereof, (i) shall be issued in fully registered form, without interest coupons, with the principal of and interest
<br />on suc.h Bonds to be payable only to the registered owners thereof, (ii) may be redeemed prior to their
<br />scheduled maturities, (iii) may be transferred and assigned, (iv) may be converted and exchanged for other
<br />Bonds, (v) shall have the characteristics, (vi) shall be signed and sealed, and (vii) shall be payable as to
<br />principal and interest, all as provided, and in the manner required or indicated, in the Form of Bonds set forth
<br />in this Ordinance.
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<br />Section 3.08. Reolacement Bonds.
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<br />(a) Upon the presentation and surrender to the Paying Agent/Registrar, at the Designated
<br />PaymentlTransfer Office, of a mutilated Bond, the Paying Agent/Registrar shall authenticate and deliver in
<br />exchange therefor a replacement Bond of like tenor and principal amount, bearing a number not
<br />contemporaneously outstanding. The City or the Paying Agent! Registrar may require the Owner of such
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<br />San Marcos WS 2005A: Ordinance 11.16-2005
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