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<br /> /4), J <br /> the Attorney General of Texas, and registered and manually signed by <br /> the Comptroller of Public Accounts of the State of Texas, will be <br /> delivered to the Purchaser or its designee. Upon payment for the <br /> Initial Bond, the Paying Agent/Registrar shall cancel the Initial <br /> Bond and deliver the registered definitive Bonds, in integral <br /> multiples of $5,000 for any one maturity, in accordance with <br /> instrùctions received from the Purchaser or its designee. It shall <br /> be the duty of the Purchaser or its designee to furnish to the <br /> Paying Agent/Registrar, at least five (5) business days prior to the <br /> Closing Date, written instructions on forms which the Purchaser or <br /> its designee must request of and obtain from, and which shall be <br /> provided by, the Paying Agent/Registrar designating the names in <br /> - which Bonds to be registered, the addresses of the registered <br /> are <br /> Owners, the maturities, interest rates and denominations. If such <br /> written instructions are not received within the specified time <br /> period, the cancellation of the Initial Bond and delivery of <br /> definitive Bonds in exchange therefor may be delayed until such <br /> instructions are received. <br /> Section 3.05. Ownershi? <br /> (a) The City, the Paying Agent/Registrar and any other <br /> person may treat the person in whose name any Bond is registered as <br /> the absolute owner of such Bond for the purpose of making and <br /> receiving payment of the principal thereof and premium, if any, <br /> thereon, for the further purpose of making and receiving payment of <br /> the interest thereon (subject to the provisions herein that interest <br /> is to be paid to the person in whose name the Bond is registered on <br /> the Record Date), and for all other purposes, whether or not such <br /> Bond is overdue, and neither the City nor the Paying Agent/Registrar <br /> shall be bound by any notice or knowledge to the contrary. <br /> (b) All payments made to the person deemed to be the Owner <br /> of any Bond in accordance with this Section shall be valid and <br /> effectual and shall discharge the liability of the City and the <br /> Paying Agent/Registrar upon such Bond ,to the extent of the sums paid. <br /> Section 3.06. Reqistration, Transfer and Exchanqe. <br /> <br /> (a) So long as any Bonds remain outstanding, the City shall <br /> cause the Paying Agent/Registrar to keep at the Paying <br /> Agent/Registrar Office a register (the "Register") in which, subject <br /> to such reasonable regulations as it may prescribe, the Paying <br /> Agent/Registrar shall provide for the registration and transfer of <br /> Bonds in accordance with this Ordinance. <br /> (b) Registration of any Bond may be transferred in the <br /> Register only upon the presentation and surrender thereof at the <br /> Paying Agent/Registrar Office for transfer of registration and <br /> cancellation, together with proper written instruments of <br /> assignment, in form and with guarantee of signatures satisfactory to <br /> 4417f <br /> -7- <br />