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<br /> <br /> <br /> <br /> <br /> <br /> of Obligation or Certificates of Obligation having the same maturity date, bearing interest <br /> at the same rate, in the denomination or denominations of any integral multiple of $5,000 <br /> at the request of the registered owner, and in aggregate principal amount equal to the <br /> unredeemed portion thereof, will be issued to the registered owner upon sunender thereof <br /> for cancellation. If any Certificate of Obligation or portion thereof (other than the Initial <br /> Certificate of Obligation) is assigned and transferred or converted, each Certificate of <br /> Obligation issued in exchange therefor shall have the same principal maturity date and bear <br /> interest at the same rate as the Certif cate of Obligation for which it is being exchanged. <br /> Each substitute Certificate of Obligation shall bear a letter and/or number to distinguish it <br /> from each other Certificate of Obligation. The Paying Agent/Registrar shall convert and <br /> exchange or replace Certificates of Obligation as provided herein, and each fully registered <br /> certificate of obligation delivered in conversion of and exchange for or replacement of any <br /> Certificate of Obligation or portion thereof as permitted or required by any provision of this <br /> Ordinance shall constitute one of the Certificates of Obligation for all purposes of this <br /> Ordinance, and may again be converted and exchanged or replaced. It is specifically <br /> provided that any Certificate of Obligation authenticated in conversion of and exchange for <br /> or replacement of another Certificate of Obligation on or prior to the first scheduled Record <br /> Date for the Initial Certificate of Obligation shall bear interest from the date of the Initial <br /> Certificate of Obligadon, but each substitute Certificate of Obligation so authendcated after <br /> such first scheduled Record Date shall bear interest from the interest payment date next <br /> preceding the date on which such substitute Certificate of Obligation was so authenticated, <br /> unless such Certificate of Obligation is authenticated after any Record Date but on or before <br /> the next following interest payment date, in which case it shall bear interest from such next <br /> following interest payment date; provided, however, that if at the time of delivery of any <br /> substitute Certificate of Obligation the interest on the Certificate of Obligation for which it <br /> is being exchanged is due but has not been paid, then such Certificate of Obligation shall <br /> bear interest from the date to which such interest has been paid in full. THE INITIAL <br /> CERTIFICATE OF OBLIGATION issued and delivered pursuant to this Ordinance is not <br /> required to be, and shall not be, authenticated by the Paying Agent/Registrar, but on each <br /> substitute Certificate of Obligation issued in conversion of and exchange for or replacement <br /> of any Certificate of Obligation or Certificates of Obligation issued under this Ordinance <br /> there shall be printed a certificate, in the form substantially as follows: <br /> <br /> PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE <br /> <br /> It is hereby certified that this Certificate of Obligation has been issued under the <br /> provisions of the Certificate of Obligadon Ordinance descn'bed on the face of this Certificate <br /> of Obligation; and that this Certificate of Obligation has been issued in conversion of and <br /> exchange for or replacement of a certiScate of obligation, certiScate of obligations, or a <br /> portion of a certificate of obligation or certificate of obligations of an issue which originally <br /> was approved by the Attorney General of the State of Texas and registered by the <br /> Comptroller of Public Accounts of the State of Texas. <br /> <br /> <br /> <br /> 13 <br />