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<br /> (0) 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, manualJy sign and date such Certificate, and no such Bond shall be deemed
<br /> to 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 Councilor any other body or person so as to accomplish
<br /> the foregoing conversion and exchange or replacement of any Bond or portion thereof, and the Paying
<br /> Agent/Registrar shall provide for the printing, execution, and delivery of the substitute Bonds in the
<br /> manner prescribed herein, and said Bonds shall be of customary type and composition and be printed on
<br /> paper with lithographed or steel engraved borders of customary weight and strength. Pursuant to Article
<br /> 717k-6, Vernon's Annotated Civil Statutes, as amended, and particularly Section 6 thereof, the duty of
<br /> conversion and exchange or replacement of Bonds as aforesaid is hereby imposed upon the Paying
<br /> Agent/Registrar, and, upon the execution of the above Paying Agent/Registrar's Authentication
<br /> Certificate, the converted and exchanged or replaced Bonds shall be valid, incontestable, and enforceable
<br /> in the same manner and with the same effect 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.
<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) shall be
<br /> payabale as to principal and interest, all as provided, and in the manner required or indicated, in the Fonn
<br /> of Bonds set forth in this Ordinance.
<br /> Section 3.08. Temporarv Bonds.
<br /> (a) Following the delivery and registration of the Initial Bonds and pending the preparation
<br /> of definitive Bonds, the proper oftìcers 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,
<br /> lithographed, typewritten, mimeographed or otherwise produced, in any denomination, substantially of
<br /> the tenor of the definitive Bonds in lieu of which they !ire delivered, without coupons, and with such
<br /> appropriate insertions, omissions, substitutions and other variations as the oftìcers of the City executing
<br /> such temporary Bonds may determine, as evidenced by their signing of such temporary Bonds.
<br /> (b) Until exchanged for Bonds in definitive form, such Bonds in temporary form shall be
<br /> entitled to the benetït and security of this Ordinance.
<br /> (c) The City, without unreasonable delay, shall prepare, execute and deliver to the Paying
<br /> Agent/Registrar the Bonds in definitive form; thereupon, upon the presentation and surrender of the Bond
<br /> or Bonds in temporary form to the Paying Agent/Registrar, the Paying Agent/Registrar shall cancel the
<br /> Bonds in temporary form and authenticate and deliver in exchange therefor a Bond or Bonds of the same
<br /> maturity and series, in definitive form, in the authorized denomination, and in the same aggregate
<br /> principal amount, as the Bond or Bonds in temporary form surrendered. Such exchange shall be made
<br /> without the making of any charge therefor to any Owner.
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