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<br />exchanged. Each substItute Bond shall bear a letter and/or number to dIstmgUlsh It from each other Bond. The
<br />P aymg Agent/RegIstrar shall convert and exchange the Bonds as proVIded herem, and each substItute Bond
<br />delIvered m accordance w1th thiS SectlOn shall constItute an ongmal contractual obl1gatlOn of the CIty and shall
<br />be entItled to the benefits and secunty of llus Ordmance to the same extent as the Bond or Bonds m lieu of WhICh
<br />such SubstItute Bond IS dehvered.
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<br />(e) The C1ty will pay the Paymg Agent/Reglstrar's reasonable and customary charge for the Imtial
<br />regIstratIon or any subsequent transfer, exchange or converSlOn of Bonds, but the Paying Agent/Reg1strar WIll
<br />reqUITe the Owner to pay a sum suffic1ent to cover any tax or other governmental charge that IS authonzed to be
<br />Imposed m connectIon WIth the reg1stratlOn, transfer, exchange or converSlOn of a Bond. In add1tlOn, the City
<br />hereby covenants w1th the Owners of the Bonds that it Will (i) pay the reasonable and standard or customary fees
<br />and charges of the Paymg AgentJReg1strar for 1tS serV1ces w1th respect to the payment of the prmc1pal of and
<br />m1erest on the Bonds, when due, and (ii) pay the fees and charges of the P aymg AgentJReg1strar for servIces WIth
<br />respect to the transfer, reg1stratlOn, converSlOn and exchange of Bonds as prov1ded herem.
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<br />(f) Ne1ther the CIty nor the Paymg Agent/Reg1strar shall be reqUlred to transfer or exchange any
<br />Bond called for redemptlOn, m whole or m part, w1thlll 45 days of the date fixed for redemptlOn, proVIded,
<br />however, such lIrmtatIon shall not be apphcable to an exchange by the Owner of the uncalled balance of a Bond.
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<br />SectlOn 3.07 CancellatlOn and AuthenhcatlOn.
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<br />(a) All Bonds paid or redeemed before scheduled maturIty m accordance w1th th1S Ordmance, and
<br />all Bonds m lIeu of wh1ch exchange Bonds or replacement Bonds are authent1cated and delIvered m accordance
<br />WIth this Ordmance, shall be canceled and destroyed upon the makmg of proper records regardmg such payment,
<br />redemptlOn, exchange or replacement. The Paymg AgentJReg1strar shall penodIcally fllllllsh the C1ty W1th
<br />certIficates of destruchon of such Bonds.
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<br />(b) Each Subst1tute Bond 1ssued pursuant to the prov1s1ons of SectlOns 3 06 and 3 09 of th1S
<br />Ordmance, m converS1on of and exchange for or replacement of any Bond or Bonds 1ssued under tills Ordmance,
<br />shall have prmted thereon a Paymg Agent/RegIstrar's Authent1catlOn CertIficate, m the form herem after set forth.
<br />An authonzed representatIve of the Paymg Agent/Registrar shall, before the dehvery of any such Bond, manually
<br />Sign and date such CertIficate, and no such Bond shall be deemed to be 1ssued or outstandmg unless such
<br />Cert1ficate 1S so executed. No adillhonal ordmances, orders, or resoluhons need be passed or adopted by the CIty
<br />Councilor any other body or person so as to accomplIsh the foregomg converSlOn and exchange or replacement
<br />of any Bond or portlOn thereof, and the Paymg Agent/Registrar shall prov1de for the pnntmg, execution, and
<br />delIvery of the substItute Bonds in the manner prescribed herem, and saId Bonds shall be of customary type and
<br />compos1tlOn and be pnnted on paper WIth lithographed or steel engraved borders of customary weIght and
<br />strength. Pursuant to Art1cle 717k-6, Vernon's Annotated ClVIl Statutes, as amended, and partIcularly Sechon
<br />6 thereof, the duty of converSlOn and exchange or replacement of Bonds as aforeSaId 1S hereby imposed upon the
<br />Paymg Agent/Reglstrar, and, upon the executIon of the above Paymg Agent/Reg1strar's AuthentlcatlOn
<br />CertIficate, the converted and exchanged or replaced Bonds shall be vahd, mcontestable, and enforceable in the
<br />same manner and WIth the same effect as the ImtIaI Bond whIch was ongmally delIvered pursuant to thIS
<br />Ordmance, approved by the Attorney General, and reg1stered by the Comptroller of Pubhc Accounts.
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<br />(c) Bonds 1SSUed m converS1on and exchange or replacement of any other Bond or portion thereof,
<br />(I) shall be Issued m fully registered form, WIthout mterest coupons, w1th the pnncIpaI of and mterest on such
<br />Bonds to be payable only to the regIstered owners thereof, (ll) may be redeemed pnor to thw scheduled
<br />matuntIes, (ill) may be transferred and ass1gned, (lV) may be converted and exchanged for other Bonds, (v) shall
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