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damage with respect thereto. Also, in every case of loss, theft or destruction of a Bond, the <br />Registered Owner shall furnish to the Issuer and to the Paying Agent/Registrar evidence to their <br />satisfaction of the loss, theft or destruction of such Bond, as the case may be. In every case of <br />damage or mutilation of a Bond, the Registered Owner shall surrender to the Paying Agent/Registrar <br />for cancellation the Bond so damaged or mutilated. <br />(c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in the <br />event any such Bond shall have matured, and no default has occurred that is then continuing in the <br />payment of the principal of or interest on the Bond, the Issuer may authorize the payment of the <br />same (without surrender thereof except in the case of a damaged or mutilated Bond) instead of <br />issuing a replacement Bond, provided security or indemnity is furnished as above provided in this <br />Section. <br />(d) Charge for Issuin Re placement Bond. Prior to the issuance of any replacement Bond, <br />the Paying Agent/Registrar shall charge the Registered Owner of such Bond with all legal, printing, <br />and other expenses in connection therewith. Every replacement Bond issued pursuant to the <br />provisions of this Section by virtue of the fact that any Bond is lost, stolen or destroyed shall <br />constitute a contractual obligation of the Issuer whether or not the lost, stolen or destroyed Bond <br />shall be found at any time, or be enforceable by anyone, and shall be entitled to all the benefits of <br />this Ordinance. <br />(e) Authority for Issuing, Replacement Bond. In accordance with Sec. 1206.022, <br />Government Code, this Section 7 of this Ordinance shall constitute authority for the issuance of any <br />such replacement Bond without necessity of further action by the governing body of the Issuer or <br />any other body or person, and the duty of the replacement of such Bond is hereby authorized and <br />imposed upon the Paying Agent/Registrar, and the Paying Agent/Registrar shall authenticate and <br />deliver such Bond in the form and manner and with the effect, as provided in Section 3(a) of this <br />Ordinance for a Bond issued in conversion and exchange for another Bond. <br />Section 8. CUSTODY, APPROVAL, AND REGISTRATION OF BOND; BOND <br />COUNSEL'S OPINION; ENGAGEMENT OF BOND COUNSEL. <br />(a) The Mayor of the Issuer is hereby authorized to have control of the Bond initially issued <br />and delivered hereunder and all necessary records and proceedings pertaining to the Bond pending <br />its delivery and their investigation, examination, and approval by the Attorney General of the State <br />of Texas, and their registration by the Comptroller of Public Accounts of the State of Texas. Upon <br />registration of the Bond said Comptroller of Public Accounts (or a deputy designated in writing to <br />act for said Comptroller) shall manually sign the Comptroller's Registration Certificate attached to <br />such Bond, and the seal of said Comptroller shall be impressed, or placed in facsimile, on such <br />Bond. <br />(b) The obligation of the initial Purchaser to accept delivery of the Bond is subject to the <br />initial purchaser being furnished with the final, approving opinion of McCall, Parkhurst & <br />Horton L.L.P., bond counsel to the Issuer, which opinion shall be dated as of and delivered on the <br />date of initial delivery of the Bond to the initial purchaser. The engagement of such firm as bond <br />12 <br />