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<br />replacement of Bonds as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the
<br />execution of the above Paying AgentlRegistrar'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.
<br />
<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.
<br />
<br />Section 3.08. Temoorarv Bonds.
<br />
<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 />AgentlRegistrar 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.
<br />
<br />(b) Until exchanged for Bonds in definitive form, such Bonds in temporary form shall be entitled
<br />to the benefit and security of this Ordinance.
<br />
<br />(c) The City, without unreasonable delay, shall prepare, execute and deliver to the Paying
<br />AgentlRegistrar the Bonds in definitive form; thereupon, upon the presentation and surrender of the Bond
<br />or Bonds in temporary form to the Paying AgentlRegistrar, the Paying Agent/Registrar shall cancel the Bonds
<br />in temporary form and authenticate and deliver in exchange therefor a Bond or Bonds of the same maturity
<br />and series, in definitive form, in the authorized denomination, and in the same aggregate principal amount,
<br />as the Bond or Bonds in temporary form surrendered. Such exchange shall be made without the making of
<br />any charge therefor to any Owner.
<br />
<br />Section 3.09. Replacement Bonds.
<br />
<br />(a) Upon the presentation and surrender to the Paying Agent/Registrar, at the Designated
<br />Payment/Transfer Office, 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 number not
<br />contemporaneously outstanding. The City or the Paying Agent/ Registrar may require the Owner of such
<br />Bond to pay a sum sufficient to cover any tax or other governmental charge that is authorized to be imposed
<br />in connection therewith and any other expenses connected herewith.
<br />
<br />(b) In the event that any Bond is lost, apparently destroyed or wrongfully taken, the Paying
<br />AgentlRegistrar, pursuant to the applicable laws of the State of Texas and in the absence of notice or
<br />knowledge that such Bond has been acquired by a bona fide purchaser, shall authenticate and deliver a
<br />replacement Bond oflike tenor and principal amount, bearing a number not contemporaneously outstanding,
<br />provided that the Owner first:
<br />
<br />(i) furnishes to the Paying AgentlRegistrar satisfactory evidence of his or her ownership
<br />of and the circumstances of the loss, destruction or theft of such Bond;
<br />
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