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<br /> exchanged or replaced Bonds shall be valid, incontestable, and <br /> enforceable in the same manner and with the same effect as the <br /> Initial Bond which was originally delivered pursuant to this <br /> Ordinance, approved by the Attorney General, and registered by the <br /> Comptroller of Public Accounts. <br /> (c) Bonds issued in conversion and exchange or replacement <br /> of any other Bond or portion thereof, (i) shall be issued in fully <br /> registered form, without interest coupons, with the principal of and <br /> interest on such Bonds to be payable only to the registered owners <br /> thereof, (ii) may be redeemed prior to their scheduled maturities, <br /> (iii) may be transferred and assigned, (iv) may be converted and <br /> exchanged for other Bonds, (v) shall have the characteristics, (vi) <br /> shall be signed and sealed, and (vii) the principal of and interest <br /> on the Bonds shall be payable, all as provided, and in the manner <br /> required or indicated, in the Form of Bonds set forth in this <br /> Ordinance. <br /> Section 3.08. Replacement Bonds. <br /> <br /> (a) Upon the presentation and surrender to the Paying <br /> Agent/Registrar of a mutilated Bond, the Paying Agent/Registrar <br /> shall authenticate and deliver in exchange therefor a replacement <br /> Bond of like tenor and principal amount, bearing a number not <br /> contemporaneously outstanding. The City or the Paying Agent/ <br /> Registrar may require the Holder of such Bond to pay a sum <br /> sufficient to cover any tax or other governmental charge that is <br /> authorized to be imposed in connection therewith and any other <br /> expenses connected herewith. <br /> (b) In the event that any Bond is lost, apparently <br /> destroyed or wrongfully taken, the Paying Agent/Registrar, pursuant <br /> to the applicable laws of the State of Texas and in the absence of <br /> notice or knowledge that such Bond has been acquired by a bona fide <br /> purchaser, shall authenticate and deliver a replacement Bond of like <br /> tenor and principal amount, bearing a number not contemporaneously <br /> outstanding, provided that the Holder first: <br /> (i) furnishes to the Paying Agent/Registrar <br /> satisfactory evidence of his or her ownership of and the <br /> circumstances of the loss, destruction or theft of such Bondi <br /> (ii) furnishes such security or indemnity as may be <br /> required by the Paying Agent/Registrar, and acceptable to the <br /> City, to save it harmless; <br /> (iii) pays all expenses and charges in connection <br /> therewith, including, but not limited to, printing costs, <br /> legal fees, fees of the Paying Agent/Registrar and any tax or <br /> other governmental charge that is authorized to be imposed; and <br /> (iv) satisfies any other reasonable requirements <br /> imposed by the City and the Paying Agent/Registrar. <br /> 4177f <br /> -10- <br />