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<br />Paying Agent/Registrar for services with respect to the transfer, registration, conversion and exchange of
<br />Bonds 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 />Bond called for redemption, in whole or in part, within 45 days of the date fixed for redemption; provided,
<br />however, such limitation shall not be applicable to an exchange by the Owner of the uncalled balance of a
<br />Bond.
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<br />Section 3.07. Cancellation and Authentication.
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<br />(a) All Bonds paid or redeemed before scheduled maturity in accordance with this Ordinance,
<br />and all Bonds in lieu of which exchange Bonds or replacement Bonds are authenticated and delivered in
<br />accordance with this Ordinance, shall be canceled and destroyed upon the making of proper records
<br />regarding such payment, redemption, exchange or replacement. The Paying Agent/Registrar shall
<br />periodically furnish the City with certificates of destruction of such Bonds.
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<br />(b) Each substitute Bond 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 Bond or Bonds issued under this
<br />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 Bond, manually sign and date such Certificate, and no such Bond shall be deemed to be issued
<br />or outstanding unless such Certificate is so executed. No additional ordinances, orders, or resolutions need
<br />be passed or adopted by the City Councilor any other body or person so as to accomplish the foregoing
<br />conversion and exchange or replacement of any Bond or portion thereof, and the Paying Agent/Registrar
<br />shall provide for the printing, execution, and delivery of the substitute Bonds in the manner prescribed
<br />herein, and said Bonds shall be of customary type and composition and be printed on paper with lithographed
<br />or steel engraved borders of customary weight and strength. Pursuant to Article 717k-6, Vernon's Annotated
<br />Civil Statutes, as amended, and particularly Section 6 thereof, the duty of conversion and exchange or
<br />replacement of Bonds as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the
<br />execution of the above Paying Agent/Registrar's Authentication Certificate, the converted and exchanged
<br />or replaced Bonds shall be valid, incontestable, and enforceable in the same manner and with the same effect
<br />as the Initial Bond which was originally delivered pursuant to this Ordinance, approved by the Attorney
<br />General, and registered by the Comptroller of Public Accounts.
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<br />( c) Bonds issued in conversion and exchange or replacement of any other Bond or portion
<br />thereof, (i) shall be issued in fully registered form, without interest coupons, with the principal of and interest
<br />on such Bonds to be payable only to the registered owners thereof, (ii) may be redeemed prior to their
<br />scheduled maturities, (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) shall be payable as to
<br />principal and interest, all as provided, and in the manner required or indicated, in the Form of Bonds set forth
<br />in this Ordinance.
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<br />Section 3.08. Temporarv Bonds.
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<br />(a) Following the delivery and registration ofthe Initial Bonds and pending the preparation of
<br />definitive Bonds, 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 Bonds that are printed, lithographed,
<br />typewritten, mimeographed or otherwise produced, in any denomination, substantially of the tenor of the
<br />definitive Bonds in lieu of which they are delivered, without coupons, and with such appropriate insertions,
<br />omissions, substitutions and other variations as the officers of the City executing such temporary Bonds may
<br />determine, as evidenced by their signing of such temporary Bonds.
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