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<br /> <br /> <br /> <br /> <br /> or Certificates of Obligation, but the one requesting such transfer shall pay any taxes or <br /> other governmental charges required to be paid with respect thereto. The Paying <br /> Agent/Registrar shall not be required to make transfers of registration of any Certificate of <br /> Obligation or any portion thereof (i) during the period commencing with the close of <br /> business on any Record Date and ending with the opening of business on the next following <br /> principal or interest payment date, or, (ii) with respect to any Certificate of Obligation or <br /> any portion thereof called for redemption prior to maturity, within 45 days prior to its <br /> redemption date. (b) Ownership of Certificates of Obli a~~tion. The entity in whose name any <br /> <br /> <br /> Certificate of Obligation shall be registered in the Registration Books at any time shall be <br /> deemed and treated as the absolute owner thereof for all purposes of this Ordinance, <br /> whether or not such Certificate of Obligation shall be overdue, and the Issuer and the Paying <br /> Agent/Registrar shall not be affected by any notice to the contrary; and payment of, or on <br /> account of, the principal of, premium, if any, and interest on any such Certificate of <br /> Obli,-ation shall be made only to such registered owner. All such payments shall be valid <br /> and effectual to satisfy and discharge the liability upon such Certificate of Obligation to the <br /> extent of the sum or sums so paid. <br /> <br /> (c) Payment of Certificates of Obligation and Interest. The Issuer hereby further <br /> appoints the Paying Agent/Registrar to act as the paying agent for paying the principal of <br /> and interest on the Certificates of Obligation, and to act as its agent to convert and exchange <br /> or replace Certificates of Obligation, all as provided in this Ordinance. The Paying <br /> Agent/Registrar shall keep proper records of all payments m-ade by the Issuer and the <br /> Payin' Agent/Registrar with respect to the Certificates of Obligation, and of all conversions <br /> and exchanges of Certificates of Obligation, and all replacements of Certificates of <br /> Obligation, as provided in this Ordinance. However, in the event of a nonpayment of interest <br /> on a scheduled payment date, and for thirty (30) days thereafter, a new record date for such <br /> interest payment (a "Special Record Date") will be established by the Paying Agent/Regis- <br /> trar, if and when funds for the payment of such interest have been received from the Issuer. <br /> Notice of the Special Record Date and of the scheduled payment date of the past due <br /> interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) <br /> business days prior to the Special Record Date by United States mail, first class postage <br /> prepaid, to the address of each Certificate of Obligation holder appearing on the Security <br /> Register at the close of business on the last business day next preceding the date of mailing <br /> of such notice. <br /> <br /> (d) Conversion and Exchanize or Replacement; Authentication. Each Certificate of <br /> Obligation issued and delivered pursuant to this Ordinance, to the extent of the unpaid or <br /> unredeemed principal balance or principal amount thereof, may, upon surrender of sucn <br /> Certificate of Obligation at the principal corporate trust office of the Paying Agent/Registrar, <br /> together with a written request therefor duly executed by the registered owner or the <br /> assianee or assignees thereof, or its or their duly authorized attorneys or representatives, <br /> with guarantee of signatures satisfactory to the Paying Agent/Registrar, may, at the option <br /> <br /> <br /> 10 <br />