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<br /> <br /> <br /> <br /> <br /> <br /> of this Ordinance, and may again be converted and exchanged <br /> or replaced. It is specifically provided that any Bond <br /> authenticated in conversion of and exchange for or replace- <br /> ment of another Bond on or prior to the first scheduled <br /> Record Date for the Initial Bond shall bear interest from <br /> the date of the Initial Bond, but each substitute Bond so <br /> authenticated after such first scheduled Record Date shall <br /> bear interest from the interest payment date next preceding <br /> the date on which such substitute Bond was so authenticated, <br /> unless such Bond is authenticated after any Record Date but <br /> on or before the next following interest payment date, in <br /> which case it shall bear interest from such next following <br /> interest payment date; provided, however, that if at the <br /> time of delivery of any substitute Bond the interest on the <br /> Bond for which it is being exchanged is due but has not been <br /> paid, then such Bond shall bear interest from the date to <br /> which such interest has been paid in full. THE INITIAL BOND <br /> issued and delivered pursuant to this Ordinance is not <br /> required to be, and shall not be, authenticated by the <br /> Paying Agent/Registrar, but on each substitute Bond issued <br /> in conversion of and exchange for or replacement of any Bond <br /> or Bonds issued under this Ordinance there shall be printed <br /> a certificate, in the form substantially as follows: <br /> PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE <br /> It is hereby certified that this Bond has been issued <br /> under the provisions of the Bond Ordinance described on the <br /> face of this Bond; and that this Bond has been issued in <br /> conversion of and exchange for or replacement of a bond, <br /> bonds, or a portion of a bond or bonds of an issue which <br /> originally was approved by the Attorney General of the State <br /> of Texas and registered by the Comptroller of Public Ac- <br /> counts of the State of Texas. <br /> NCNB TEXAS NATIONAL BANK <br /> Dallas, Texas <br /> Paying Agent/Registrar <br /> Dated By Authorized Representative <br /> An authorized representative of the Paying Agent/Registrar <br /> shall, before the delivery of any such Bond, date and <br /> manually sign the above Certificate, and no such Bond shall <br /> be deemed to be issued or outstanding unless such Certifi- <br /> cate is so executed. The Paying Agent/Registrar promptly <br /> shall cancel all Bonds surrendered for conversion and <br /> exchange or replacement. No additional ordinances, orders, <br /> or resolutions need be passed or adopted by the governing <br /> body of the Issuer or any other body or person so as to <br /> accomplish the foregoing conversion and exchanqe or replace- <br /> ment of any Bond or portion thereof, and the Paying Agent/ <br /> 13 <br />