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<br /> <br /> <br /> i <br /> ; <br /> ; <br /> ; <br /> <br /> portions thereof, in the same form and manner, and with the <br /> ? same effect, as provided in Section 6(d), below, for the <br /> conversion and exchange of Certificates of Obligation by any <br /> : registered owner of a Certificate of Obligation. The Issuer <br /> ; shall pay the Paying Agent/Registrar's standard or customary <br /> , fees and charges for making such transfer and delivery of a 1 <br /> substitute Certificate of Obligation or Certificates of Obliga- <br /> ~ tion, but the one requesting such transfer shall pay any taxes ~ <br /> s or other governmental charges required to be paid with respect ~ <br /> ' thereto. The Paying Agent/Registrar shall not be required to <br /> ; make transfers of registration of any Certificate of Obligation <br /> ` or any portion thereof (i) during the period commencing with <br /> ~ the close of business on any Record Date and ending with the ~ <br /> ~ opening of business on the next following principal or interest <br /> ; payment date, or, (ii) with respect to any Certificate of Obli- ~ <br /> ~ gation or any portion thereof called for redemption prior to ~ <br /> ; maturity, within 45 days prior to its redemption date. °y <br /> q R <br /> ' (b) Ownership of Certificates of Obligation. The entity ~ <br /> in whose name any Certificate of Obligation shall_be registered <br /> in the Registration Books at any time shall be deemed and <br /> ~ treated as the absolute owner thereof for all purposes of this <br /> ~ Ordinance, whether or not such Certificate of Obligation shall ~ <br /> ; be overdue, and the Issuer and the Paying Agent/Registrar shall ~ <br /> ' not be affected by any notice to the contrary; and payment of, ~ <br /> : or on account of, the principal of, premium, if any, and inter- <br /> ; est on any such Certificate of Obligation shall be made only to ~ <br /> ; such registered owner. All such payments shall be valid and ~ <br /> effectual to satisfy and discharge the liability upon such Cer- <br /> I tificate of Obligation to the extent of the sum or sums so <br /> paid. <br /> i <br /> t (c) Payment of Certificates of Obligation and Interest. <br /> ~ The Issuer hereby further appoints the Paying Agent/Registrar M <br /> ; to act as the paying agent for paying the principal of and ! <br /> interest on the Certificates of Obligation, and to act as its ~ <br /> ; agent to convert and exchange or replace Certificates of <br /> B <br /> ` Obligation, all as provided in this Ordinance. The Paying <br /> ~ Agent/Registrar shall keep proper records of all payments made <br /> E by the Issuer and the Paying Agent/Registrar with respect to <br /> the Certificates of Obligation, and of all conversions and <br /> s` exchanges of Certificates of Obligation, and all replacements f <br /> of Certificates of Obligation, as provided in this Ordinance. I <br /> However, in the event of a nonpayment of interest on a sched- j <br /> 1 uled payment date, and for thirty (30) days thereafter, a new <br /> p record date for such interest payment (a "Special Record Date") <br /> ; will be established by the Paying Agent/Registrar, if and when <br /> ; funds for the payment of such interest have been received from <br /> ' the Issuer. Notice of the past due interest (which shall be 15 ! <br /> ; days after the Special Record Date) shall be sent at least five f <br /> ;(5) business days prior to the Special Record Date by United <br /> l' States mail, first class postage prepaid, to the address of <br /> ` each Bondholder appearing on the Security Register at the close <br /> ~ of business on the last business day next preceding the date of <br /> ~ mailing of such notice. <br /> (d) Conversion and Exchange or Replacement; Authenti- <br /> ~ cation. Each Certificate of Obligation issued and delivered <br /> pursuant to this Ordinance, to the extent of the unpaid or <br /> unredeemed principal balance or principal amount thereof, may, <br /> upon surrender of such Certificate of Obligation at the <br /> principal corporate trust office of the Paying Agent/Registrar, <br /> ~ together with a written request therefor duly executed by the ` <br /> registered owner or the assignee or assignees thereof, or its 3 <br /> ° or their duly authorized attorneys or representatives, with <br /> ; guarantee of signatures satisfactory to the Paying <br /> ~ Agent/Registrar, may, at the option of the registered owner or <br /> such assignee or assignees, as appropriate, be converted into <br /> ~ and exchanged for fully registered certificates of obligation, <br /> ~ 9 <br /> <br />