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<br /> i <br /> ~ <br /> , <br /> I <br /> <br /> i <br /> <br /> it shall bear interest from such next following interest <br /> payment date; provided, however, that if at the time of <br /> delivery of any substitute Certificate of Obligation the <br /> interest on the Certificate of Obligation for which it is being <br /> exchanged is due but has not been paid, then such Certificate <br /> !of Obligation shall bear interest from the date to which such <br /> interest has been paid in full. THE INITIAL CERTIFICATE OF <br /> OBLIGATION issued and delivered pursuant to this Ordinance is ' <br /> not required to be, and shall not be, authenticated by the ~ <br /> Paying Agent/Registrar, but on each substitute Certificate of <br /> 'Obligation issued in conversion of and exchange for or replace- <br /> ment of any Certificate of Obligation or Certificates of <br /> Obligation issued under this Ordinance there shall be printed a <br /> certificate, in the form substantially as follows: <br /> "PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE <br /> It is hereby certified that this Certificate of Obligation <br /> has been issued under the provisions of the Certificate of <br /> 10bligation Ordinance described on the face of this Certificate <br /> 'of Obligation; and that this Certificate of Obligation has been <br /> ~issued in conversion of and exchange for or replacement of a <br /> ecertificate of obligation, certificates of obligation, or a <br /> portion of a certificate of obligation or certificates of <br /> obligation of an issue which originally was approved by the <br /> IAttorney General of the State of Texas and registered by the <br /> ' Comptroller of Public Accounts of the State of Texas. <br /> ~ <br /> ~i <br /> i Paying Agent/Registrar <br /> ~ <br /> ~Dated gy <br /> Authorized Representative" <br /> lAn authorized representative of the Paying Agent/Registrar <br /> Ishall, before the delivery of any such Certificate of <br /> ;Obligation, date and manually sign the above Certificate, and <br /> Ino such Certificate of Obligation shall be deemed to be issued <br /> ~or outstanding unless such Certificate is so executed. The <br /> jPaying Agent/Registrar promptly shall cancel all Certificates <br /> lof Obligation surrendered for conversion and exchange or <br /> "replacement. No additional ordinances, orders, or resolutions <br /> ~need be passed or adopted by the governing body of the Issuer <br /> or any other body or person so as to accomplish the foregoing <br /> ~conversion and exchange or replacement of any Certificate of <br /> i0bligation or portion thereof, and the Paying Agent/Registrar <br /> ~shall provide for the printing, execution, and delivery of the <br /> ~substitute Certificates of Obligation in the manner prescribed <br /> ;herein, and said Certificates of Obligation shall be of type <br /> ~composition printed on paper with lithographed or steel <br /> aengraved borders of customary weight and strength. Pursuant to <br /> ~Vernon's Ann. Tex. Civ. St. Art. 717k-6, and particularly <br /> Section 6 thereof, the duty of conversion and exchange or <br /> replacement of Certificates of Obligation as aforesaid is <br /> hereby imposed upon the Paying Agent/Registrar, and, upon the <br /> iexecution of the above Paying Agent/Registrar's Authentication <br /> ;Certificate, the converted and exchanged or replaced <br /> ~Certificate of Obligation shall be valid, incontestable, and <br /> enforceable in the same manner and with the same effect as the <br /> Initial Certificate of Obligation which originally was issued <br /> pursuant to this Ordinance, approved by the Attorney General, <br /> and registered by the Comptroller of Public Accounts. The <br /> Issuer shall pay the Paying Agent/Registrar's standard or <br /> customary fees and charges for transferring, converting, and <br /> exchanging any Certificate of Obligation or any portion <br /> thereof, but the one requesting any such transfer, conversion, <br /> 'and exchange shall pay any taxes or governmental charges <br /> required to be paid with respect thereto as a condition <br /> precedent to the exercise of such privilege of conversion and <br /> ~ <br /> ! 11 <br /> I <br /> I <br />