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Section 3.07. Cancellation and Authentication. <br /> (a) All Certificates paid or redeemed before scheduled maturity in accordance with <br /> this Ordinance, and all Certificates in lieu of which exchange Certificates or replacement <br /> Certificates are authenticated and delivered in accordance with this Ordinance, shall be canceled <br /> and destroyed upon the making of proper records regarding such payment, redemption, exchange <br /> or replacement. The Paying Agent/Registrar shall periodically furnish the City with certificates <br /> of destruction of such Certificates. <br /> (b) Each substitute Certificate issued pursuant to the provisions of Sections 3.06 and <br /> 3.09 of this Ordinance, in conversion of and exchange for or replacement of any Certificate or <br /> Certificates issued under this Ordinance, shall have printed thereon a Paying Agent/Registrar's <br /> Authentication Certificate, in the form hereinafter set forth. An authorized representative of the <br /> Paying Agent/Registrar shall, before the delivery of any such Certificate, manually sign and date <br /> such Certificate, and no such Certificate shall be deemed to be issued or outstanding unless such <br /> Certificate is so executed. No additional ordinances, orders, or resolutions need be passed or <br /> adopted by the City Council or any other body or person so as to accomplish the foregoing <br /> conversion and exchange or replacement of any Certificate or portion thereof, and the Paying <br /> Agent/Registrar shall provide for the printing, execution, and delivery of the substitute <br /> Certificates in the manner prescribed herein. Pursuant to Title 9, Tex. Gov't Code Ann., as <br /> amended, and particularly Chapter 1201, Subchapter D thereof, the duty of conversion and <br /> exchange or replacement of Certificates as aforesaid is hereby imposed upon the Paying <br /> Agent/Registrar, and, upon the execution of the above Paying Agent/Registrar's Authentication <br /> Certificate, the converted and exchanged or replaced Certificates shall be valid, incontestable, <br /> and enforceable in the same manner and with the same effect as the Initial Certificate which was <br /> originally delivered pursuant to this Ordinance, approved by the Attorney General, and registered <br /> by the Comptroller of Public Accounts. <br /> (c) Certificates issued in conversion and exchange or replacement of any other <br /> Certificate or portion thereof, (i) shall be issued in fully registered form, without interest <br /> coupons, with the principal of and interest on such Certificates to be payable only to the <br /> registered owners thereof, (ii) may be redeemed prior to their scheduled maturities, (iii) may be <br /> transferred and assigned, (iv) may be converted and exchanged for other Certificates, (v) shall <br /> have the characteristics, (vi) shall be signed and sealed, and (vii) shall be payable as to principal <br /> of and interest, all as provided, and in the manner required or indicated, in the Form of <br /> Certificates set forth in this Ordinance. <br /> Section 3.08. Replacement Certificates. <br /> (a) Upon the presentation and surrender to the Paying Agent/Registrar, at the <br /> Designated Payment/Transfer Office, of a mutilated Certificate, the Paying Agent/Registrar shall <br /> authenticate and deliver in exchange therefor a replacement Certificate of like tenor and principal <br /> amount, bearing a number not contemporaneously outstanding. The City or the Paying Agent/ <br /> Registrar may require the Owner of such Certificate to pay a sum sufficient to cover any tax or <br /> SAN NIARCOS craw&OOS 2018 Ordinance <br /> 16 <br />