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fixed by the Council of the City whenever moneys be- <br />come available for payment of the Defaulted Interest, <br />and shall cause notice of the proposed payment of such <br />Defaulted Interest and the Special Record Date there- <br />for to be mailed, first class postage prepaid, not <br />less than ten (10) days prior thereto to each Holder <br />at his address as it appears on the registration books <br />of the City maintained bythe Registrar. The principal <br />and interest on the Bonds is payable in lawful money <br />of the United States of America without deduction for <br />the services of the Registrar. <br /> <br />"No Bondshall be valid or become obligatory for any <br />purpose unless and until an authentication certificate <br />appearing on theBond shall have been duly endorsed by <br />the Registrar. <br /> <br />"Each Bond shall bear interest from its date and shall <br />be dated as of September 1, 1983, if authenticated prior <br />to December 1, 1983, and otherwise shall be dated as of the <br />Interest Payment Date next preceding the date of its <br />authentication, unless authenticated upon an Interest <br />Payment Date, in which case it shall be dated as of the <br />date of its authentication; provided, however, that if <br />at the time of authentication interest is in default, <br />such Bond shall be dated as of the date to which in- <br />terest has been paid. <br /> <br />"Any Bond, upon surrender thereof at the principal cor- <br />porate trust office of the Registrar, together with an <br />assignment duly executed by the Holder or his duly <br />authorized attorney in such form as shall be satisfactory <br />to the Registrar, at the option of the Holder <br />thereof, may be exchanged for Bonds of any authorized <br />denomination or denominations in an aggregate principal <br />amount not exceeding the principal amount of the Bond <br />so exchanged, and bearing interest at the same rate and <br />maturing on the same date. <br /> <br />"Any Bond, at no cost to the Holder, may be transferred <br />only upon the books kept for the registration and trans- <br />fer of Bonds, upon surrender thereof at the principal <br />corporate trust office of the Registrar together with <br />an assignment duly executed by the Holder or his duly <br />authorized attorney in such form as shall be satisfac- <br />tory to the Registrar. Upon the transfer of any such <br />Bond and on request of the Registrar, the City shall <br />execute in the name of the transferee, and the Registrar <br />shall authenticate and deliver, a new Bond, of any auth- <br />orized denomination, in aggregate principal amount equal <br />to the principal amount of~such Bond, and bearing interest <br />at the same rate and maturing on the same date. <br /> <br />"In all cases in which Bonds shall be exchanged or trans- <br />ferred, the City shall execute and the Registrar shall <br />authenticate and deliver Bonds in accordance with the <br />provisions of this Ordinance. The City and Registrar <br />may make a charge for every such exchange (but not for <br /> <br />-4- <br /> <br /> <br />