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<br /> <br />Agreement is approved, together with any changes or amendments that are not <br />inconsistent with this ordinance and not substantially adverse to the City and <br />that are approved by the Mayor and the Director of Finance on behalf of the <br />City, all of which shall be conclusively evidenced by the signing of the <br />Agreement or amendments to the Agreement. The Director of Finance shall <br />provide for the payment of the services rendered and for reimbursement of <br />expenses incurred pursuant to the Agreement from the proceeds of the Bonds to <br />the extent available and then from other money lawfully available and <br />appropriated or to be appropriated for that purpose. <br />Section 5. The debt charges on the Bonds shall be payable in lawful <br />money of the United States of America without deduction for the services of <br />the Bond Registrar as paying agent. Principal and any redemption premium <br />shall be payable when due upon presentation and surrender of the Bonds at the <br />principal corporate trust office of the Bond Registrar. Interest on a Bond <br />shall be paid on each Interest Payment Date by check or draft mailed to the <br />person in whose name the Bond was registered, and to that person's address <br />appearing, on the Bond Register (as defined in Section 6) at the close of <br />business on the first day of the calendar month next preceding that Interest <br />Payment Date (the Record Date). <br />Notwithstanding the foregoing, if and so long as the Bonds are issued <br />in book entry form in accordance with Section 6, principal of and interest and <br />any redemption premium on the Bonds shall be payable in the manner provided in <br />the agreement between the City and the Depository described in Section 6. <br />Section 6. So long as any of the Bonds remain outstanding, the City <br />will 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 />- 7 -