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<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 AgentJRegistrar' s Authentication Certificate, in the form
<br />hereinafter set forth. An authorized representative of the Paying AgentJRegistrar 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 Council or 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 />AgentJRegistrar shall provide for the printing, execution, and delivery of the substitute Certificates in the
<br />manner prescribed herein, and said Certificates shall be of customary type and composition and be printed
<br />on paper with lithographed or steel engraved borders of customary weight and strength. Pursuant to Tex.
<br />Rev. Civ. Stat. art. 717k-6, as amended, and particularly Section 6 thereof, the duty of conversion and
<br />exchange or replacement of Certificates as aforesaid is hereby imposed upon the Paying AgentJRegistrar,
<br />and, upon the execution of the above Paying AgentJRegistrar' s Authentication Certificate, the converted and
<br />exchanged or replaced Certificates shall be valid, incontestable, and enforceable in the same manner and with
<br />the same effect as the Initial Certificate which was originally delivered pursuant to this Ordinance, approved
<br />by the Attorney General, and registered 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 />the principal of and interest on the Certificates shall be payable, all as provided, and in the manner required
<br />or indicated, in 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 pending 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
<br />tenor of the definitive Certificates in lieu of which they are delivered, without coupons, and with such
<br />appropriate insertions, omissions, substitutions and other variations as the officers of the City executing such
<br />temporary Certificates may determine, as evidenced by their signing of such temporary Certificates.
<br />
<br />(b) Until exchanged for Certificates in definitive form, such Certificates in temporary form shall
<br />be entitled 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 />Agent/Registrar the Certificates in definitive form; thereupon, upon the presentation and surr~nder of the
<br />Certificate or Certificates in temporary form to the Paying AgentJRegistrar, the Paying AgentJRegistrar shall
<br />cancel the Certificates in temporary form and authenticate and deliver in exchange therefor a Certificate or
<br />Certificates of the same maturity and series, in definitive form, in the authorized denomination, and in the
<br />same aggregate principal amount, as the Certificate or Certificates in temporary form surrendered. Such
<br />exchange shall be made without the making of any charge therefor to any Owner.
<br />
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