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<br /> <br /> <br /> <br /> <br /> <br /> (b) Application for Replacement Bonds. Application for replacement of damaged, <br /> mutilated, lost, stolen, or destroyed Bonds shall be made by the registered owner thereof to <br /> the Paying Agent/Registrar. In every case of loss, theft, or destruction of a Bond, the <br /> registered owner applying for a replacement bond shall furnish to the Issuer and to the <br /> Paying Agent/Registrar such security or indemnity as may be required by them to save each <br /> of them harmless from any loss or damage with respect thereto. Also, in every case of loss, <br /> theft, or destruction of a Bond, the registered owner shall furnish to the Issuer and to the <br /> Paying Agent/Registrar evidence to their satisfaction of the loss, theft, or destruction of such <br /> Bond, as the case may be. In every case of damage or mutilation of a Bond, the registered <br /> owner shall surrender to the Paying Agent/Registrar for cancellation the Bond so damaged <br /> or mutilated. <br /> <br /> (c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, <br /> in the event any such Bond shall have matured, and no default has occurred which is then <br /> continuing in the payment of the principal of, redemption premium, if any, or interest on the <br /> Bond, the Issuer may authorize the payment of the same (without surrender thereof except <br /> in the case of a damaged or mutilated Bond) instead of issuing a replacement Bond, <br /> provided security or indemnity is furnished as above provided in this Section. <br /> <br /> (d) Charge for Issuing Replacement Bonds. Prior to the issuance of any replacement <br /> bond, the Paying Agent/Registrar shall charge the registered owner of such Bond with all <br /> legal, printing, and other expenses in connection therewith. Every replacement bond issued <br /> pursuant to the provisions of this Section by virtue of the fact that any Bond is lost, stolen, <br /> or destroyed shall constitute a contractual obligation of the Issuer whether or not the lost, <br /> stolen, or destroyed Bond shall be found at any time, or be enforceable by anyone, and shall <br /> be entitled to all the benefits of this Ordinance equally and proportionately with any and all <br /> other Bonds duly issued under this Ordinance. <br /> <br /> (e) Authority for Issuing Replacement Bonds. In accordance with Section 6 of <br /> Vernon's Ann. Tex. Civ. St. Art. 717k-6, this Section of this Ordinance shall constitute <br /> authority for the issuance of any such replacement bond without necessity of further action <br /> by the governing body of the Issuer or any other body or person, and the duty of the <br /> replacement of such bonds is hereby authorized and imposed upon the Paying <br /> Agent/Registrar, and the Paying Agent/Registrar shall authenticate and deliver such bonds <br /> in the form and manner and with the effect, as provided in Section 4(d) of this Ordinance <br /> for Bonds issued in conversion and exchange for other Bonds. <br /> <br /> Section 29. CUSTODY, APPROVAI,, AND REGISTRATION OF BONDS; BOND <br /> COUNSEL'S OPINION; CUSIP NUMBERS; AND CONTINGENT INSURANCE <br /> PROVISION, IF OBTAINED. The Mayor of the Issuer is hereby authorized to have <br /> control of the Initial Bond issued hereunder and all necessary records and proceedings <br /> pertaining to the Initial Bond pending its delivery and its investigation, examination, and <br /> approval by the Attorney General of the State of Texas, and its registration by the <br /> Comptroller of Public Accounts of the State of Texas. Upon registration of the Initial Bond <br /> <br /> 33 <br />