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<br />respect to the payment of the principal of and interest on the Certificates, when due, and (ii) pay the fees and
<br />charges of the Paying Agent/Registrar for services with respect to the transfer, registration, conversion and
<br />exchange of Certificates as provided herein.
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<br />(f) Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange any
<br />Certificate called for redemption, in whole or in part, within 45 days of the date fixed for redemption;
<br />provided, however, such limitation shall not be applicable to an exchange by the Owner of the uncalled
<br />balance of a Certificate.
<br />
<br />Section 3.07. Cancellation and Authentication.
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<br />(a) All Certificates paid or redeemed before scheduled maturity in accordance with this
<br />Ordinance, and all Certificates in lieu of which exchange Certificates or replacement Certificates are
<br />authenticated and delivered in accordance with this Ordinance, shall be canceled and destroyed upon the
<br />making of proper records regarding such payment, redemption, exchange or replacement. The Paying
<br />Agent/Registrar shall periodically furnish the City with certificates of destruction of such Certificates.
<br />
<br />(b) Each substitute Certificate issued pursuant to the provisions of Sections 3.06 and 3.09 of this
<br />Ordinance, in conversion of and exchange for or replacement of any Certificate or Certificates issued under
<br />this Ordinance, shall have printed thereon a Paying Agent/Registrar's Authentication Certificate, in the form
<br />hereinafter set forth. An authorized representative of the Paying Agent/Registrar shall, before the delivery
<br />of any such Certificate, manually sign and date such Certificate, and no such Certificate shall be deemed to
<br />be issued or outstanding unless such Certificate is so executed. No additional ordinances, orders, or
<br />resolutions need be passed or adopted by the City Councilor any other body or person so as to accomplish
<br />the foregoing 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 Certificates in the
<br />manner prescribed herein. Pursuant to Title 9, Tex. Gov't Code Ann., as amended, and particularly Chapter
<br />1201, Subchapter D thereof, the duty of conversion and exchange or replacement of Certificates as aforesaid
<br />is hereby imposed upon the Paying Agent/Registrar, and, upon the execution of the above Paying
<br />Agent/Registrar's Authentication Certificate, the converted and exchanged or replaced Certificates shall be
<br />valid, incontestable, and enforceable in the same manner and with the same effect as the Initial Certificate
<br />which was originally delivered pursuant to this Ordinance, approved by the Attorney General, and registered
<br />by the Comptroller of Public Accounts.
<br />
<br />(c) Certificates issued in conversion and exchange or replacement of any other Certificate or
<br />portion thereof, (i) shall be issued in fully registered form, without interest coupons, with the principal of
<br />and interest on such Certificates to be payable only to the registered owners thereof, (ii) may be redeemed
<br />prior to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be converted and
<br />exchanged for other Certificates, (v) shall have the characteristics, (vi) shall be signed and sealed, and (vii)
<br />shall be payable as to principal of and interest, all as provided, and in the manner required or indicated, in
<br />the Form of Certificates set forth in this Ordinance.
<br />
<br />Section 3.08. Temporary Certificates.
<br />
<br />(a) Following the delivery and registration of the Initial Certificates and pend ing the preparation
<br />of definitive Certificates, the proper officers of the City may execute and, upon the City's request, the Paying
<br />Agent/Registrar shall authenticate and deliver, one or more temporary Certificates that are printed,
<br />lithographed, typewritten, mimeographed or otherwise produced, in any denomination, substantially of the
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