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upon the execution of the above Paying Agent/Registrar's Authentication Certificate, the converted <br />and exchanged or replaced Certificates shall be valid, incontestable, and enforceable in the same <br />manner and with the same effect as the Initial Certificate which was originally delivered pursuant to <br />this Ordinance, approved by the Attorney General, and registered by the Comptroller of Public <br />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 coupons, <br />with the principal of and interest on such Certificates to be payable only to the registered owners <br />thereof, (ii) may be redeemed prior to their scheduled maturities, (iii) may be transferred and <br />assigned, (iv) may be converted and exchanged for other Certificates, (v) shall have the <br />characteristics, (vi) shall be signed and sealed, and (vii) shall be payable as to principal of and <br />interest, all as provided, and in the manner required or indicated, in the Form of Certificates set forth <br />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 other <br />governmental charge that is authorized to be imposed in connection therewith and any other <br />expenses connected therewith. <br /> (b) In the event that any Certificate is lost, apparently destroyed or wrongfully taken, the <br />Paying Agent/Registrar, pursuant to the applicable laws of the State of Texas and in the absence of <br />notice or knowledge that such Certificate has been acquired by a bona fide purchaser, shall <br />authenticate and deliver a replacement Certificate of like tenor and principal amount, bearing a <br />number not contemporaneously outstanding, provided that the Owner first: <br /> (i) furnishes to the Paying Agent/Registrar satisfactory evidence of his or her <br />ownership of and the circumstances of the loss, destruction or theft of such Certificate; <br /> (ii) furnishes such security or indemnity as may be required by the Paying <br />Agent/Registrar and the City to save them harmless; <br /> (iii) pays all expenses and charges in connection therewith, including, but not <br />limited to, printing costs, legal fees, fees of the Paying Agent/Registrar and any tax or other <br />governmental charge that is authorized to be imposed; and <br /> (iv) satisfies any other reasonable requirements imposed by the City and the <br />Paying Agent/Registrar. <br /> (c) If, after the delivery of such replacement Certificate, a bona fide purchaser of the <br />original Certificate in lieu of which such replacement Certificate was issued presents for payment <br />such original Certificate, the City and the Paying Agent/Registrar shall be entitled to recover such <br />16 <br />San Marcos CTRCO 2021A: Ordinance <br /> <br />