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<br /> the Paying Agent/Registrar such security or indemnity as may be
<br /> required to save each of them harmless, then, in the absence of
<br /> notice to the city or the Paying Agent/ Registrar that such Bond
<br /> has been acquired by a bona fide purchaser, the City shall
<br /> execute, and upon its request, the Paying Agent/Registrar shall
<br /> register and deliver, in exchange for or in lieu of any such
<br /> mutilated, destroyed, lost, or stolen Bond, a new Bond of the same
<br /> Stated Maturity and of like tenor and principal amount, bearing a
<br /> number not contemporaneously outstanding.
<br /> In case any such mutilated, destroyed, lost, or stolen Bond
<br /> has become or is about to become due and payable, the City, in its
<br /> discretion, may, instead of issuing a new Bond, pay such Bond.
<br /> Upon the issuance of any new Bond under this Section, the
<br /> City may require payment by the Holder of a sum sufficient to
<br /> cover any tax or other governmental charge imposed in relation
<br /> thereto and any other expenses (including, but not limited to, the
<br /> fees and expenses of the Paying Agent/Registrar) connected
<br /> therewith.
<br /> Every new Bond issued pursuant to this section in lieu of any
<br /> mutilated, destroyed, lost or stolen Bond shall constitute a
<br /> replacement of the prior obligation of the city, whether or not
<br /> the mutilated, destroyed, lost, or stolen Bond shall be
<br /> enforceable at any time by anyone, and shall be entitled to all of
<br /> the benefits of this ordinance equally and ratably with all other
<br /> outstanding Bonds.
<br /> The provisions of this section are exclusive and shall
<br /> preclude, to the extent lawful, all other rights and remedies with
<br /> respect to the replacement and payment of mutilated, destroyed,
<br /> lost, or stolen Bonds.
<br /> section 18. SATISFACTION OF OBLIGATION. If the City shall
<br /> payor cause to be paid, or there shall be paid otherwise to the
<br /> Holders, the principal of, premium, if any, and interest on the
<br /> Bonds, at the times and in the manner stipulated in this
<br /> ordinance, then the pledge of the funds pledged under this
<br /> ordinance, and all covenants, agreements and other obligations of
<br /> the City to the Holders, shall cease, terminate and become void
<br /> and be discharged and satisfied, and the Paying Agent/Registrar
<br /> shall pay over or deliver to the City all money held by it under
<br /> this Ord1.nance.
<br /> Bonds or principal amount thereof and interest installments
<br /> for which money shall have been set aside in full payment to
<br /> maturity and held in trust by the Paying Agent/Registrar (through
<br /> deposit by the City of funds for such payment or otherwise) shall
<br /> be deemed to have been paid within the meaning and with the effect
<br /> expressed above in this section. All Outstanding Bonds shall be
<br /> deemed to have been paid prior to their Stated Maturities, within
<br /> the meaning and with the effect expressed above in this Section,
<br /> if there shall have been deposited with the Paying Agent/Registrar
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