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Section 6. CHARACTERISTICS OF THE BONDS. (a) Registration, Transfer,
<br />Conversion and Exchange, Authentication. The City shall keep or cause to be kept at Regions Bank,
<br />Houston, Texas (the "Paying Agent /Registrar ") books or records for the registration of the transfer,
<br />conversion and exchange of the Bonds (the "Register "), and the City hereby appoints the Paying
<br />Agent /Registrar as its registrar and transfer agent to keep such Bonds or records and make such
<br />registrations of transfers, conversions and exchanges under such reasonable regulations as the City
<br />and Paying Agent /Registrar may prescribe; and the Paying Agent /Registrar shall make such
<br />registrations, transfers, conversions and exchanges as herein provided within three days of
<br />presentation in due and proper form. The Paying Agent /Registrar shall obtain and record in the
<br />Register the address of the Registered Owner of each Bond to which payments with respect to the
<br />Bond shall be mailed, as herein provided; but it shall be the duty of each Registered Owner to notify
<br />the Paying Agent /Registrar in writing of the address to which payments shall be mailed, and such
<br />interest payments shall not be mailed unless such notice has been given. The City shall have the
<br />right to inspect the Register during regular business hours of the Paying Agent /Registrar, but
<br />otherwise the Paying Agent /Registrar shall keep the Register confidential and, unless otherwise
<br />required by law, shall not permit their inspection by any other entity. The Paying Agent /Registrar
<br />shall make a copy of the Register available in the State of Texas. The City shall pay the Paying
<br />Agent /Registrar's standard or customary fees and charges for making such registration, transfer,
<br />conversion, exchange and delivery of a substitute Bond. Registration of assignments, transfers,
<br />conversions and exchanges of Bonds shall be made in the manner provided and with the effect stated
<br />in the FORM OF BOND set forth in this Ordinance. Each substitute Bond shall bear a letter and /or
<br />number to distinguish it from each other Bond.
<br />Except as provided in subsection (c) hereof, an authorized representative of the Paying
<br />Agent /Registrar shall, before the delivery of any such Bond, date and manually sign the Bond, and
<br />no such Bond shall be deemed to be issued or outstanding unless such Bond is so executed. The
<br />Paying Agent /Registrar promptly shall cancel all paid Bonds and Bonds surrendered for conversion
<br />and exchange. No additional ordinances, orders, or resolutions need be passed or adopted by the
<br />City Council or any other body or person so as to accomplish the foregoing conversion and exchange
<br />of any Bond or portion thereof, and the Paying Agent /Registrar shall provide for the printing,
<br />execution, and delivery of the substitute Bond in the manner prescribed herein, and the Bonds shall
<br />be typewritten, photocopied, printed, lithographed, engraved or produced in any other similar
<br />manner, all as determined by the officers executing such bond as evidenced by their execution
<br />thereof. Pursuant to Chapter 1201, Texas Government Code, as amended, and particularly
<br />Subchapter D thereof, the duty of conversion and exchange of Bonds as aforesaid is hereby imposed
<br />upon the Paying Agent /Registrar, and, upon the execution of the Bonds, the converted and
<br />exchanged Bond shall be valid, incontestable, and enforceable in the same manner and with the same
<br />effect as the Bond which initially was issued and delivered pursuant to this Ordinance, approved by
<br />the Attorney General, and registered by the Comptroller of Public Accounts.
<br />(b) Payment of Principal and Interest. The City hereby further appoints the Paying
<br />Agent /Registrar to act as the paying agent for paying the principal of and interest on the Bond, all
<br />as provided in this Ordinance and in the Pricing Certificate. The Paying Agent /Registrar shall keep
<br />proper records of all payments made by the City and the Paying Agent /Registrar with respect to the
<br />San Marcos GORB 2013 - Delegated: Ordinance 6
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