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aggregate principal amount of all Certificates for such maturity, registered in the name of Cede & <br />Co., as nominee for DTC. To the extent that the Paying Agent/Registrar is eligible to participate in <br />DTC's FAST System, pursuant to an agreement between the Paying Agent/Registrar and DTC, the <br />Paying Agent/Registrar shall hold the definitive Certificates in safekeeping for DTC. <br />Section 3.05. Ownership. <br />(a) The City, the Paying Agent/Registrar and any other person may treat the person in <br />whose name any Certificate is registered as the absolute owner of such Certificate for the purpose of <br />making and receiving payment of the principal thereof and premium, if any, thereon, for the further <br />purpose of making and receiving payment of the interest thereon (subject to the provisions herein that <br />interest is to be paid to the person in whose name the Certificate is registered on the Record Date or <br />Special Record Date, as applicable), and for all other purposes, whether or not such Certificate is <br />overdue, and neither the City nor the Paying Agent/Registrar shall be bound by any notice or <br />knowledge to the contrary. <br />(b) All payments made to the person deemed to be the Owner of any Certificate in <br />accordance with this Section shall be valid and effectual and shall discharge the liability of the City <br />and the Paying Agent/Registrar upon such Certificate to the extent of the sums paid. <br />Section 3.06. Registration, Transfer and Exchange. <br />(a) So long as any Certificates remain outstanding, the City shall cause the Paying <br />Agent/Registrar to keep at the Designated Payment/Transfer Office a register (the "Register") in <br />which, subject to such reasonable regulations as it may prescribe, the Paying Agent/Registrar shall <br />provide for the registration and transfer of Certificates in accordance with this Ordinance. <br />(b) Registration of any Certificate may be transferred in the Register only upon the <br />presentation and surrender thereof at the Designated Payment/Transfer Office for transfer of <br />registration and cancellation, together with proper written instruments of assignment, in form and <br />with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing assignment of the <br />Certificates, or any portion thereof in any integral multiple of $5,000, to the assignee or assignees <br />thereof, and the right of such assignee or assignees thereof to have the Certificate or any portion <br />thereof registered in the name of such assignee or assignees. No transfer of any Certificate shall be <br />effective until entered in the Register. Upon assignment and transfer of any Certificate or portion <br />thereof, a new Certificate or Certificates will be issued by the Paying Agent/Registrar in conversion <br />and exchange for such transferred and assigned Certificate. To the extent possible the Paying <br />Agent/Registrar will issue such new Certificate or Certificates in not more than three business days <br />after receipt of the Certificate to be transferred in proper form and with proper instructions directing <br />such transfer. <br />(c) Any Certificate may be converted and exchanged only upon the presentation and <br />surrender thereof at the Designated Payment/Transfer Office, together with a written request therefor <br />duly executed by the registered owner or assignee or assignees thereof, or its or their duly authorized <br />attorneys or representatives, with guarantees of signatures satisfactory to the Paying Agent/Registrar, <br />San Marcos CTRCO 2019: Ordinance <br />