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<br /> 13 ovv <br /> or records and make such transfers and registrations under such <br /> reasonable regulations as the City and the Paying Agent/Registrar <br /> may prescribe; and the Paying Agent/Registrar shall make such <br /> transfer and registrations as herein provided. It shall be the duty <br /> of the Paying Agent/Registrar to obtain from the Owners and record <br /> in the Register the address of such Owner of each Bond to which <br /> payments with respect to the Bonds shal1 be mailed, as provided <br /> herein. The City or its designee shall have the right to inspect <br /> the Register during regular business hours of the Paying <br /> Agent/Registrar, but otherwise the Paying Agent/Registrar shal1 keep <br /> the Registration Books confidential and, unless otherwise required <br /> by law, shall not permit their inspection by any other entity. <br /> (b) The City hereby further appoints the Paying <br /> Agent/Registrar to act as the paying agent for paying the principal <br /> of and interest on the Bonds. The Paying Agent/Registrar shall keep <br /> proper records of all payments made by the City and the Paying <br /> Agent/Registrar with respect to the Bonds, and of all conversions, <br /> exchanges and replacements of such Bonds, as provided in the <br /> Ordinance. <br /> (c) The execution and delivery of a Paying Agent/Registrar <br /> Agreement, specifying the duties and responsibilities of the City <br /> and the Paying Agent/Registrar, is hereby approved wi th such changes <br /> as may be approved by the Mayor of the City, and t:'he Mayor and City <br /> Secretary of the City are hereby authorized to execute such <br /> agreement. <br /> Section 5.02. Oualifications. <br /> Each Paying Agent/Registrar shall be (i) a commercial bank, <br /> trust company, or other entity duly qualified and legally authorized <br /> under applicable law, (ii) authorized under such laws to exercise <br /> trust powers, (iii) subject to supervision or examination by a <br /> federal or state governmental authority, and (iv) a single entity. <br /> , <br /> Section 5.03. Maintaininq PayinG Aqent/Reqistrar. <br /> (a) At all times while any Bonds are outstanding, the City <br /> will maintain a Paying Agent/Registrar that is qualified under <br /> Section 5.02 of this Ordinance. <br /> (b) If the Paying Agent/Registrar resigns or otherwise <br /> ceases to serve as such, the City will promptly appoint a <br /> replacement. <br /> Section 5.04. Termination. <br /> The City reserves the right to terminate the appointment of <br /> any Paying Agent/Registrar by delivering to the entity whose <br /> appointment is to be terminated a certified copy of a resolution of <br /> 4588f <br /> -19- <br />