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<br />services with respect to the payment of the principal of and interest on the Bonds, when due, and (ii) pay
<br />the fees and charges of the Paying AgentlRegistrar for services with respect to the transfer, registration,
<br />conversion and exchange of Bonds as provided herein.
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<br />(t) Neither the City nor the Paying AgentlRegistrar shall be required to transfer or exchange
<br />any Bond 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 Bond.
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<br />Section 3.07. r~nr.F.lhtion ~nn Alltl1F.ntir.~tion.
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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
<br />delivery of any such Bond, manually sign and date such Certificate, and no such Bond shall be deemed
<br />to be issued or outstanding unless such Certiticate 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
<br />accomplish the foregoing conversion and exchange or replacement of any Bond or portion thereof, and
<br />the Paying AgentlRegistrar shall provide for the printing, execution, and delivery of the substitute Bonds
<br />in the manner prescribed herein, and said Bonds shall be of customary type and composition and be
<br />printed on paper with lithographed or steel engraved borders of customary weight and strength. Pursuant
<br />to Article 717k-6, Vernon's Annotated Civil Statutes, as amended, and particularly Section 6 thereof,
<br />the duty of conversion and exchange or replacement of Bonds as aforesaid is hereby imposed upon the
<br />Paying AgentfRegistrar, and, upon the execution of the above Paying Agent/Registrar's Authentication
<br />Certiticate, the converted and exchanged or replaced Bonds shall be valid, incontestable, and enforceable
<br />in the same manner and with the same eftect as the Initial ,Bond which was originally delivered pursuant
<br />to this Ordinance, approved by the Attorney General, and registered by the Comptroller of Public
<br />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
<br />interest on such Bonds to be payable only to the registered owners thereof, (ii) may be redeemed prior
<br />to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be converted and exchanged
<br />for other Bonds, (v) shall have the characteristics, (vi)\shall be signed and sealed, and (vii) the principal
<br />of and interest on the Bonds shall be payable, all as provided, and in the manner required or indicated,
<br />in the Form of Bonds set forth in this Ordinance.
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<br />Section 3.08. Tr'mpnr:1ry Ronne;.
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<br />(a) Following the delivery and registration of the Initial Bonds and pending the preparation
<br />of detinitive Bonds, the proper officers of the City may execute and, upon the City's request, the Paying
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<br />SAt-o'MAA\GORFD 9$\OOCS\ORDN'CE:0l7.42:FN
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