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<br />above Paying Agent/Registrar's Authentication Certificate. the converted and <br />exchanged or replaced Bonds shall be valid. incontestable. and enforceable in the <br />same manner and with the same effect as the Initial Bond and the Initial Capital <br />Appreciation Bonds which originally were delivered pursuant to this Ordinance. <br />approved by the Attorney General. and registered by the Comptroller of Public <br />Accounts. <br /> <br />(c) Bonds issued in conversion and exchange or replacement of any other <br />Bond or portion thereof (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 <br />registered owners thereof. (ii) may be redeemed prior to their scheduled maturities. <br />(iii) may be transferred and assigned. (iv) may be converted and exchanged for other <br />Bonds. (v) shall have the characteristics. (vi) shall be signed and sealed. and (vii) <br />shall be payable as to principal and interest. all as provided. and in the manner <br />required or indicated. in the FORM OF BOND set forth in this Ordinance. <br /> <br />Section 3.08. Replacement Bonds. <br /> <br />(a) Upon the presentation and surrender to the Paying Agent/Registrar <br />of a mutilated Bond. the Paying Agent/Registrar shall authenticate and deliver in <br />exchange therefor a replacement Bond of like tenor and principal amount. bearing a <br />number not contemporaneously outstanding. The City or the Paying Agent/ <br />Registrar may require the Holder of such Bond to pay a sum sufficient to cover any <br />tax or other governmental charge that is authorized to be imposed in connection <br />therewith and any other expenses connected therewith. <br /> <br />(b) In the event that any Bond is lost. apparently destroyed or wrongfully <br />taken. the Paying Agent/Registrar. pursuant to the applicable laws of the State of <br />Texas and in the absence of notice or knowledge that such Bond has been acquired <br />by a bona fide purchaser. shall authenticate and deliver a replacement Bond of like <br />tenor and principal amount. bearing a number not contemporaneously outstanding. <br />provided that the Holder first: <br /> <br />(i) furnishes to the Paying Agent/Registrar satisfactory <br />evidence of his or her ownership of and the circumstances of the loss, <br />destruction or theft of such Bond; <br /> <br />(ii) furnishes such security or indemnity as may be required by <br />the Paying Agent/Registrar. and acceptable to the City. to save it harmless; <br /> <br />(iii) pays all expenses and charges in connection therewith, <br />including. but not limited to. printing costs, legal fees, fees of the Paying <br />Agent/Registrar and any tax or other governmental charge that is authorized <br />to be imposed; and <br /> <br />(iv) satisfies any other reasonable requirements imposed by the <br />City and the Paying Agent/Registrar. <br /> <br />1659f <br /> <br />-11- <br />