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from the City. Notice of the Special Record Date and of the scheduled payment date of the past due <br /> interest(which shall be 15 days after the Special Record Date)shall be sent at least five(5)business <br /> days prior to the Special Record Date by United States mail, first-class postage prepaid, to the <br /> address of each Registered Owner appearing on the Registration Books at the close of business on <br /> the last business day next preceding the date of mailing of such notice. <br /> (c) In General. The Bonds (i) shall be issued in fully registered form, without interest <br /> coupons, with the principal of and interest on such Bonds to be payable only to the Registered <br /> Owners thereof,(ii)may be transferred and assigned,(iii)may be converted and exchanged for other <br /> Bonds,(iv)shall have the characteristics,(v)shall be signed,sealed,executed and authenticated,(vi) <br /> the principal of and interest on the Bonds shall be payable, and(vii) shall be administered and the <br /> Paying Agent/Registrar and the City shall have certain duties and responsibilities with respect to the <br /> Bonds, all as provided, and in the manner and to the effect as required or indicated, in the Pricing <br /> Certificate and the FORM OF BOND set forth in this Ordinance. lie Bonds initially issued and <br /> delivered pursuant to this Ordinance are not required to be, and shall not be, authenticated by the <br /> Paying Agent/Registrar, but on each substitute Bond issued in conversion of and exchange for any <br /> Bond or Bonds issued under this Ordinance the Paying Agent/Registrar shall execute the PAYING <br /> AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE,in the form set forth in the FORM <br /> OF BOND. <br /> (d) Substitute Paying Agent/Registrar. The City covenants with the Registered Owners of <br /> the Bonds that at all times while the Bonds are outstanding the City will provide a competent and <br /> legally qualified bank,trust company,financial institution,or other agency to act as and perform the <br /> services of Paying Agent/Registrar for the Bonds under this Ordinance, and that the Paying <br /> Agent/Registrar will be one entity. The City reserves the right to,and may,at its option,change the <br /> Paying Agent/Registrar upon not less than 30 days written notice to the Paying Agent/Registrar,to be <br /> effective at such time which will not disrupt or delay payment on the next principal or interest <br /> payment date after such notice. In the event that the entity at any time acting as Paying <br /> Agent/Registrar(or its successor by merger,acquisition,or other method)should resign or otherwise <br /> cease to act as such, the City covenants that promptly it will appoint a competent and legally <br /> qualified bank,trust company,financial institution,or other agency to act as Paying Agent/Registrar <br /> under this Ordinance. Upon any change in the Paying Agent/Registrar, the previous Paying <br /> Agent/Registrar promptly shall transfer and deliver the Registration Books(or a copy thereof),along <br /> with all other pertinent books and records relating to the Bonds,to the new Paying Agent/Registrar <br /> designated and appointed by the City. Upon any change in the Paying Agent/Registrar, the City <br /> promptly will cause a written notice thereof to be sent by the new Paying Agent/Registrar to each <br /> Registered Owner of the Bonds,by United States mail,first-class postage prepaid,which notice also <br /> shall give the address of the new Paying Agent/Registrar. By accepting the position and performing <br /> as such, each Paying Agent/Registrar shall be deemed to have agreed to the provisions of this <br /> Ordinance,and a certified copy of this Ordinance shall be delivered to each Paying Agent/Registrar. <br /> (e) Book-Entry-Only System. Unless a series of Bonds are sold pursuant to a private <br /> placement,the Bonds issued in exchange for the Bonds initially issued as provided in Section 4(i) <br /> shall be issued in the form of a separate single fully registered Bond for each of the maturities thereof <br /> registered in the name of Cede&Co., as nominee of The Depository Trust Company of New York <br /> 7 <br /> San Mvrotl60B20 IB'.ordmanttGO <br />