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effectual to satisfy and discharge the ~lty's liability upon that Bond to the extent of tile amount or amounts so paid Transfer and Exchange. Any Bond may be exchanged for Bonds of any Authorized Denomination upon presentation and surrender at the office of the Registrar, together with a request for exchange signed by the Holder or by a person legally empowered to do so in a form satisfa~ory to the Registrar. A Bond may be transferred only on the Register upon presentation and surrender of the Bond at the office of the Registrar together with an assignment signed by the Holder or by a person legally empowered to do so in a form satisfactory to the Registrar. Upon exchange or transfer the Registrar will complete, authenticate, and deliver a new Bond or Bonds of any Authorized Denomination requested by the Holder equal to the unmatured principal amount of the Bond surrendered and bearing interest at the same rate and maturing on the same date. (c) If manual signatures on behalf of the City are required, the Registrar will undertake the exchange or transfer of Bonds only alter the,new Bonds are signed by the authorized officers of the City, In all cases of Bonds exchanged or transferred, the City will sign and the Registrar will authenticate and deliver Bonds in accordance with the provisions of the Bond Procoed'mgs. The exchange or transfer will be without charge to the Holder, except that the City and the Registrar may make a charge sufficient to rdrmburse them for any tax or other governmental charge required to be paid with respect to the exchange or transfer. The City or the Registrar may require that those charges, if any, be paid before th$ procedure is begun for the exchange or transfer. All Bonds issued and authenticated upon any exchange or tra~asfer will be valid obhgatious of the City, evidencing the same debt, and entitled to the same security and benefit under the Bond Proceeffmgs as the Bonds surrendered upon that exchange or transfer- Neither the City nor the Registrar will be required tu make any exchange or transfer of (1) Bonds then subject to call for redemPtion between the 15th day precedCmg the mailing of notice of Bonds to be redeemed and the date of that mailing, or (2) any Bond selected for redemption, in whole or in part. B0ok-Entry System. Unless otherwise determined in the Certificate of Award, the Bonds must be originally issued in book-entry form to a Depository, initially the Depository Trust Company, for use in a book-entry system upon the terms provided in the Registrar Agreement. Under the book-entry system, the Bonds will bo registered in the name of a Depository or its nominee, the bond certificates in fully- registered form will be deposited with and retained in the custody of the Depository or its agent, and the ownership of interests in the Bonds may be transferred only through a book entry on the records of the Depository. Subject to the provifflons of this ordinance relating to the City's Continuing Disclosure Agreement, the City and the Registrar must recognize and treat the Depository as the, Holder of the Bonds for all purposes, including payment of Debt Charges~ redemption and other notices, and enforcement of remedies. If any Depository determines not to continue to act as a Depository for the Bon~s for use in a book-entry system or if the ~ty determines to discontinue the book-entry systam, the Director of Finance may allempt to establish a securities depusitory/book-entry relationship with another qualified Depository. If the Director of Finance does not or is unable to do so, the Director of Finance must direct the Registrar to make provision for notification of the book-entry interest owners by the Depository and to make any other arrangements necessary for the withdrawal of the Bonds fi.om the book-entry system. Section 6. Sale of the Bonds. The Bonds will be sold at private sale to the Underwriter at a put, chase price determined by the Dkector of Finance in the Certificate of Award That purchase price must not be less than 97% of the aggregate Original Principal Amount of the Bonds, plus interest accrued on the Bonds from their date to tho date of the Closing. The Bonds must be sold with and upon such other terms as are required or authorized by this ordinance to be specified in the