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<br /> conversion of a Certitìcate. In addition, the City hereby covenants with the Owners of the Certitìcates
<br /> that it will (i) pay the reasonable and standard or customary fees and charges of the Paying
<br /> AgentlRegistrar for its services with respect to the payment of the principal of and interest on the
<br /> Certificates, when due, and (ii) pay the fees and charges of the Paying Agent/Registrar for services with
<br /> respect to the transfer, registration, conversion and exchange of Certificates as provided herein.
<br /> (t) Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange
<br /> any 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 /> Section 3.07. Cancellation and Authentication.
<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 cancelled and destroyed upon the
<br /> making of proper ~records regarding such payment, redemption, exchange or replacement. The Paying
<br /> AgentlRegistrar shall periodically furnish the City with certificates of destruction of such Certificates.
<br /> (b) Each substitute Certificate issued pursuant to the provisions of Sections 3.06 and 3.09 of
<br /> this Ordinance, in conversion of and exchange for or replacement of any Certificate or Certificates issued
<br /> under this Ordinance, shall have printed thereon a Paying Agent/Registrar's Authentication Certificate,
<br /> in the form hereinafter set forth. An authorized representative of the Paying Agent/Registrar shall, before
<br /> the delivery of any such Certificate, manually sign and date such Certificate, andno such Certificate shall
<br /> be deemed to be issued or outstanding unless such Certificate is so executed. No additional ordinances,
<br /> orders, or resolutions need be passed or adopted by the City Council or any other body or person so as
<br /> to accomplish the foregoing conversion and exchange or replacement of any Certificate or portion thereof,
<br /> and the Paying AgentlRegistrar shall provide for the printing, execution, and delivery of the substitute
<br /> Certificates in the manner prescribed herein, and said Certificates shall be of customary type and
<br /> composition and be printed on paper with lithographed or steel engraved borders of customary weight and
<br /> strength. Pursuant to Tex. Rev. Civ. Stat. art. 717k-6, as amended, and particularly Section 6 thereof,
<br /> the duty of conversion and exchange or replacement of Certificates as aforesaid is hereby imposed upon
<br /> the Paying Agent/Registrar, and, upon the execution of the above Paying AgentlRegistrar' s Authentication
<br /> Certificate, the converted and exchanged or replaced Certificates shall be valid, incontestable, and
<br /> enforceable in the same manner and with the same effect as the Initial Certificate which was originally
<br /> delivered pursuant to this Ordinance, approved by the Attorney General, and registered by the
<br /> Comptroller of Public Accounts.
<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
<br /> of and interest on such Certitìcates to be payable only to the registered owners thereof, (ii) may be
<br /> redeemed prior to their scheduled maturities, (üi) may be transferred and assigned, (iv) may be converted
<br /> and exchanged for other Certificates, (v) shall have the characteristics, (vi)\shall be signed and sealed,
<br /> and (vii) the principal of and interest on the Certificates shall be payable, all as provided, and in the
<br /> manner required or indicated, in the Form of Certificates set forth in this Ordinance.
<br /> Section 3.08. Temporary Certificates.
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