39-08 Issuance & Sale of Notes Reforestation $60,000

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be designated "Reforestation Program Notes, Series 2008," uuless otherwise designated in the Certificate of Award, Section 4. Payment. The Debt Service on the Notes must be payable in lawful money of the United States of America, without deduction for the services of the Registrar as paying agent, Debt Service on the Notes will be payable when due upon presentation and surrender of the Notes at the office of the Registrar, The Director of Finance may select such other paying agent as she deems appropriate, Section 5. Si!!'llinl!' and Authentication of the Notes. The Notes must be signed by the Mayor and the Director of Finance, in the name of the City and in their official capacities, Either of both of those signatures may be a facsimile. No Note will be valid or obligatory for any purpose or will be entitled to any security or benefit under the Note Proceedings uuless and until the certificate of authentication printed on the Bond is signed by the Registrar as authenticating agent. Authentication by the Registrar will be conclusive evidence that the Note so authenticated has been duly issued, signed, and delivered under, and is entitled to the security and benefit of, the Note Proceedings, The certificate of authentication may be signed by any authorized officer or employee of the Registrar or by any other person acting as an agent of the Registrar and approved by the Director of Finance on behalf of the City, The same person need not sign the certificate of authentication on all of the Notes. Section 6. Re!!'Ístration; Transfer and Exchanl!'e; Book-Entrv System. (a) Registrar. So long as any of the Notes remain outstanding, the City must cause the Registrar to maintain the Register. The person in whose name a Note is registered on the Register will be regarded as the absolute owner of that Note for all purposes of the Note Proceedings, Payment of the Debt Service on any Note will be made only to or upon the order of that person, (b) Transfer and Exchange. Any Note may be transferred or exchanged for Notes of any Authorized Denomination, as provided in the Registrar Agreement, (c) Book-Entry System. Unless otherwise provided in the Certificate of Award, the Notes must be originally issued in Book-Entry Form to a Depository, initially Depository Trust Company, for use in a Book-Entry System upon the terms provided in the Registrar Agreement. The City and the Registrar must recognize and treat the Depository as the owner ofthe Notes for all purposes, including payment of Debt Service, redemption and other notices, and enforcement of remedies, If any Depository determines not to continue to act as a Depository for the Notes for use in a Book-Entry System or if the City determines to discontinue the Book- Entry System, the Director of Finance may attempt to establish a securities depository relationship with another qualified Depository, If the Director of 3