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<br /> <br /> <br /> <br /> <br /> <br /> Paying Agent/Registrar <br /> <br /> Dated By <br /> Authorized Representative <br /> <br /> An authorized representative of the Paying Agent/Registrar shall, before the delivery of any <br /> such Certificate of Obligation, date and manually sign the above Certificate, and no such <br /> Certificate of Obligation shall be deemed to be issued or outstanding unless such Certificate <br /> is so executed. The Paying Agent/Registrar promptly shall cancel all Certificates of <br /> Obligation surrendered for conversion and exchange or replacement. No additional orders, <br /> orders, or resolutions need be passed or adopted by the governing body of the Issuer or any <br /> other body or person so as to accomplish the foregoing conversion and exchange or replace- <br /> ment of any Certificate of Obligation or portion thereot and the Paying Agent/Registrar <br /> shall provide for the printing, execution, and delivery of the substitute Certificates of <br /> Obligation in the manner prescnbed herein, and said Certificates of Obligation shall be of <br /> type composition printed on paper with lithographed or steel engraved borders of customary <br /> weight and strength. Pursuant to TEX. REV. CIV. STAT. ANN. art. 717k-6 (Vernon, as <br /> amended), and particularly Section 6 thereot the duty of conversion and exchange or <br /> replacement of Certificates of Obligadon as aforesaid is hereby imposed upon the Paying <br /> Agent/Registrar, and, upon the execution of the above Paying Agent/Registrar's <br /> Authentication Certificate, the converted and exchanged or replaced Certificate of <br /> Obligation shall be valid, incontestable, and enforceable in the same manner and with the <br /> same effect as the Initial Certificate of Obligation which originally was issued pursuant to <br /> this Ordinance, approved by the Attorney General, and registered by the Comptroller of <br /> Public Accounts. The Issuer shall pay the Paying Agent/Registrar's standard or customary <br /> fees and charges for transferring, converting, and exchanging any Certificate of Obligation <br /> or any portion thereot but the one requesting azry such transfer, conversion, and exchange <br /> shall pay any taxes or govemmental charges required to be paid with respect thereto as a <br /> condition precedent to the exercise of such privilege of conversion and exchange. The <br /> Paying Agent/Registrar shall not be required to make any such conversion and exchange or <br /> replacement of CertiScates of Obligation or any portion thereof (i) during the period <br /> commencing with the close of business on any Record Date and ending with the opening of <br /> business on the next following principal or interest payment date, or, (ii) with respect to any <br /> Certificate of Obligation or portion thereof called for redemption prior to maturity, within <br /> 45 days prior to its redemption date. <br /> <br /> (e) In General, All Certificates of Obligation issued in conversion and exchange or <br /> replacement of any other CertiScate of Obligation or portion thereo~ (i) shall be issued in <br /> fully registered form, without interest coupons, with the principal of and interest on such <br /> CertiScates of Obligation to be payable only to the registered owners thereot (u) may be <br /> redeemed prior to their scheduled maturities, (iu) may be transferred and assigned, (iv) may <br /> be converted and exchanged for other Certificates of Obligation, (v) shall have the character- <br /> istics, (vi) shall be signed and sealed, and (vii) the principal of and interest on the <br /> Certificates of Obligation shall be payable, all as provided, and in the manner required or <br /> <br /> 14 <br />