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<br /> <br /> <br /> <br /> <br /> <br /> Attorney General, and registered by the Comptroller of Public Accounts. The Issuer shall pay <br /> the Paying Agent/Registrar's standard or customary fees and charges for transferring, converting, <br /> and exchanging any Certificate of Obligation or any portion thereof, but the one requesting any <br /> such transfer, conversion, and exchange shall pay any taxes or governmental charges required to <br /> be paid with respect thereto as a condition precedent to the exercise of such privilege of <br /> conversion and exchange. The Paying Agent/Registrar shall not be required to make any such <br /> conversion and exchange or replacement of Certificates of Obligation or any portion thereof (i) <br /> during the period commencing with the close of business on any Record Date and ending with the <br /> opening of business on the next following principal or interest payment date, or, (ii) with respect <br /> to any Certificate of Obligation or portion thereof called for redemption prior to maturity, within <br /> 45 days prior to its redemption date. <br /> <br /> <br /> (e) In General. All Certificates of Obligation issued in conversion and exchange or <br /> replacement of any other Certificate of Obligation or portion thereof, (i) shall be issued in fully <br /> registered form, without interest coupons, with the principal of and interest on such Certificates <br /> of Obligation to be payable only to the registered owners thereof, (ii) may be redeemed prior to <br /> their scheduled maturities, (iii) may be transferred and assigned, (iv) may be converted and ex- <br /> changed for other Certificates of Obligation, (v) shall have the characteristics, (vi) shall be signed <br /> and sealed, and (vii) the principal of and interest on the Certificates of Obligation shall be payable, <br /> all as provided, and in the manner required or indicated, in the FORM OF SUBSTITUTE <br /> CERTIFICATE OF OBLIGATION set forth in this Ordinance. <br /> <br /> (fl Pavment of Fees and Charges. The Issuer hereby covenants with the registered owners <br /> of the Certificates of Obligation that it will (i) pay the standard or customary fees and charges of <br /> the Paying Agent/Registrar for its services with respect to the payment of the principal of and <br /> interest on the Certificates of Obligation, when due, and (ii) pay the fees and charges of the <br /> Paying Agent/Registrar for services with respect to the transfer of registration of Certificates of <br /> Obligation, and with respect to the conversion and exchange of Certificates of Obligation solely <br /> to the extent above provided in this Ordinance. <br /> <br /> (g) Suhsr;nure Pa,yingAgent/Registrar. The Issuer covenants with the registered owners <br /> of the Certificates of Obligation that at all times while the Certificates of Obligation are <br /> outstanding the Issuer will provide a competent and legally qualified commercial bank or trust <br /> company organized under the laws of the State of Texas or the United States of America or other <br /> entity duly qualified and legally authorized to act as and perform the services of Paying <br /> Agent/Registrar for the Certificates of Obligation under this Ordinance, and that the Paying <br /> Agent/Registrar will be one entity. The Issuer reserves the right to, and may, at its option, <br /> change the Paying Agent/Registrar upon not less than 120 days written notice to the Paying <br /> Agent/Registrar, to be effective not later than 60 days prior to the next principal or interest <br /> payment date after such notice. In the event that the entity at any time acting as Paying <br /> Agent/Registrar (or its successor by merger, acquisition, or other method) should resign or other- <br /> wise cease to act as such, the Issuer covenants that promptly it will appoint a competent and <br /> <br /> legally qualified commercial bank or trust company organized under the laws of the State of Texas <br /> <br /> 13 <br />