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thereof shall be the proper officers to sign the Notes although on the date of delivery of the Notes <br />such persons may not have been such officers. <br /> <br /> The Notes shall bear a certificate of authentication, in the form set forth in the "Form of <br />Note" below, duly executed by the Registrar. The Registrar shall authenticate the Notes with the <br />signature of an authorized officer of the Registrar. Only authenticated Notes shall be entitled to <br />any right or benefit under this Ordinance, and such certificate on any Note issued hereunder shall <br />be conclusive evidence that the Note has been duly issued and is secured by the provisions <br />hereof. <br /> <br /> The Paying Agent shall act as Registrar and shall maintain Registration Books for the <br />registration and the registration of transfer of the Notes. The City Treasurer is hereby designated <br />and authorized to act as Paying Agent and Registrar hereunder. The transfer of the Notes may be <br />registered only on the books kept for the registration and registration of transfer of any Note <br />upon surrender thereof to the Registrar together with an assignment duly executed by the regis- <br />tered holder in person, or by his duly authorized attorney or legal representative in such form as <br />shall be satisfactory to the Registrar. Upon any such transfer, the City shall execute and the <br />Registrar shall authenticate and deliver, in exchange of the Note, a new Note, registered in the <br />name of the transferee, of the same series, maturity and interest rate as the Note so exchanged, in <br />any denomination or denominations authorized by this Ordinance. <br /> <br /> The Registrar shall not be required to make any such registration or registration of <br />transfer during the fifteen (15) days immediately preceding any Interest Payment Date, the <br />Maturity Date or a redemption date. <br /> <br /> Prior to due presentment for registration of transfer for any Note, the Registrar shall treat <br />the registered holder as the person exclusively entitled to payment of principal of, premium, if <br />any, and interest on, the Note and the exercise of all other fights and powers of the Holder. <br /> <br /> If a Note has been mutilated, lost or destroyed, the City shall execute and the Registrar <br />shall authenticate and deliver a new Note of like date and tenor in exchange or substitution for, <br />and upon cancellation of, such. mutilated Note or in lieu of and in substitution for such lo'Tst or <br />destroyed Note; provided, however, that the City and the Registrar shall execute, authenticate <br />and deliver such Note only if the Holder has paid the reasonable expenses and charges of the City <br />and the Registrar in connection therewith and, in the case of a lost or destroyed Note, has <br />furnished to the City and the Registrar (a) evidence satisfactory to them that suchNote was lost <br />or destroyed and the Holder was the Owner thereof and (b) indemnity satisfactory to them. If the <br />Note has matured, instead of issuing a new Note, the Registrar may pay the same .without <br />surrender thereof upon receipt of the aforesaid evidence and indemnity. <br /> <br /> If a Note has been paid (whether at maturity, by acceleration or otherwise) or delivered to <br />the Paying Agent for cancellation, the Note shall not be reissued and the Registrar shall, unless <br />otherwise directed by the City, cremate, shred or otherwise dispose of the Note. The Registrar <br /> <br /> <br />