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_ ,:,. ,_ ..k.. .. ., . ! .,. „ .:. .. .... ....: .. .... .. . . . <br />'_ .. .. ... ....._ . . . ,... _ .,.._ _ .. , ,-<.. .. . . ....,..,._„4. ,..,...... ... . <br />Section 6. So long as any of the Bonds remain outstanding, the City <br />wiil cause the Bond Registrar to maintain and keep at its principal corporate <br />trust office all books and records necessary for the registration, exchange <br />and transfer of Bonds as provided in this Section (the Bond Register). <br />Subject to the provisions of Section 5, the person in whose name a Bond is <br />registered on the Bond Register shall be regarded as the absolute owner of <br />that Bond for all purposes of this ordinance. Payment of or on account of the <br />debt charges on any Bond shall be made only to or upon the order of that <br />person; neither the City nor the Bond Registrar shall be affected by any <br />notice to the contrary, but the registration may be changed as provided in <br />this Section. All such payments shall be valid and effectual to satisfy and <br />discharge the City's liability upon the Bond, including interest, to the <br />extent of the amount or amounts so paid. <br />Any Bond may be exchanged for Bonds of any authorized denomination <br />upon presentation and surrender at the principal corporate trust office of the <br />Bond Registrar, together with a request for exchange signed by the registered <br />owner or by a person legally empowered to do so in a form satisfactory to the <br />Bond Registrar. A Bond may be transferred only on the Bond Register upon <br />presentation and surrender of the Bond at the principal corporate trust office <br />of the Bond Registrar together with an assignment signed by the registered <br />owner or by a person legally empowered to do so in a form satisfactory to the <br />Bond Registrar. Upon exchange or transfer the Bond Registrar shall complete, <br />authenticate and deliver a new Bond or Bonds of any authorized denomination or <br />denominations requested by the owner equal in the aggregate to the unmatured <br />principal amount of the Bond surrendered and bearing interest at the same rate <br />and maturing on the same date. <br />If manual signatures on behalf of the City are required, the Bond <br />Registrar shall undertake the exchange or transfer of Bonds only after the new <br />Bonds are signed by the authorized officers of the City. In all cases of <br />Bonds exchanged or transferred, the City shall sign and the Bond Registrar <br />shall authenticate and deliver Bonds in accordance with the provisions of this <br />ordinance. The exchange or transfer shall be without charge to the owner, <br />except that the City and Bond Registrar may make a charge sufficient to <br />reimburse them for any tax or other governmental charge required to be paid <br />with respect to the exchange or transfer. The City or the Bond Registrar may <br />require that those charges, if any, be paid before the procedure is begun for <br />the exchange or transfer. All Bonds issued and authenticated upon any <br />exchange or transfer shall be valid obligations of the City, evidencing the <br />same debt, and entitled to the same security and benefit under this ordinance, <br />as the Bonds surrendered upon that exchange or transfer. <br />Notwithstanding any other provisions of this ordinance, if it is <br />determined by the Director of Finance in the Certificate of Award to be <br />advantageous to the City, the Bonds may be issued in book entry form in <br />accordance with the provisions of this Section. As used in this Section and <br />this ordinance: <br />"Book entry form" or "book entry system" means a form or system under <br />which (i) the ownership of beneficial interests in Bonds and the principal of <br />and interest on the Bonds may be transferred only through a book entry, and <br />- 4 -