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<br /> ~ I <br /> <br /> ~ I <br /> i <br /> "s <br /> <br /> ~ <br /> .without interest coupons, in the form prescribed in the FORM OF <br /> !SUBSTITUTE CERTIFICATE OF OBLIGATION set forth in this <br /> ;Ordinance, in the denomination of $5,000, or any integral <br /> ;multiple of $5,000 (subject to the requirement hereinafter <br /> stated that each substitute Certificate of Obligation shall <br /> ~'have a single stated maturity date), as requested in writing by ; <br /> isuch registered owner or such assignee or assignees, in an <br /> (aggregate principal amount equal to the unpaid or unredeemed <br /> Pprincipal balance or principal amount of any Certificate of <br /> ~!Obligation or Certificates of Obligation so surrendered, and <br /> payable to the appropriate registered owner, assignee, or <br /> 3assignees, as the case may be. If the Initial Certificate of <br /> j"Obligation is assigned and transferred or converted each <br /> fsubstitute Certificate of Obligation issued in exchange for any <br /> Lportion of the Initial Certificate of Obligation shall have a <br /> 1!single stated principal maturity date, and shall not be payable <br /> ~`in installments; and each such Certificate of Obligation shall <br /> j;have a principal maturity date corresponding to the due date of <br /> j',the installment of principal or portion thereof for which the <br /> s°substitute Certificate of Obligation is being exchanged; and <br /> each such Certificate of Obligation shall bear interest at the <br /> 'single rate applicable to and borne by such installment of <br /> 1;,principal or portion thereof for which it is being exchanged. <br /> ='If a portion of any Certificate of Obligation (other than the I <br /> °Initial Certificate of Obligation) shall be redeemed prior to r <br /> fits scheduled maturity as provided herein, a substitute Certi- <br /> I'ficate of Obligation or Certificates of Obligation having the i <br /> Psame maturity date, bearing interest at the same rate, in the ! <br /> Idenomination or denominations of any integral multiple of f <br /> ?;$5,000 at the request of the registered owner, and in aggregate <br /> ;principal amount equal to the unredeemed portion thereof, will <br /> ?;be issued to the registered owner upon surrender thereof for <br /> i;cancellation. If any Certificate of Obligation or portion <br /> s'thereof (other than the Initial Certificate of Obligation) is <br /> assigned and transferred or converted, each Certificate of <br /> 'Obligation issued in exchange therefor shall have the same <br /> ~!principal maturity date and bear interest at the same rate as <br /> 1;the Certificate of Obligation for which it is being exchanged. <br /> 1 ;Each substitute Certificate of Obligation shall bear a letter <br /> ?and/or number to distinguish it from each other Certificate of <br /> !Obligation. The Paying Agent/Registrar shall convert and <br /> j;exchange or replace Certificates of Obligation as provided <br /> ~`'herein, and each fully registered certificate of obligation <br /> ~delivered in conversion of and exchange for or replacement of <br /> any Certificate of Obligation or portion thereof as permitted <br /> ,or required by any provision of this Ordinance shall constitute <br /> 'one of the Certificates of Obligation for all purposes of this <br /> „Ordinance, and may again be converted and exchanged or <br /> replaced. It is specifically provided that any Certificate of <br /> ~Obligation authenticated in conversion of and exchange for or <br /> i replacement of another Certificate of Obligation on or prior to <br /> 1 the first scheduled Record Date for the Initial Certificate of <br /> f',Obligation shall bear interest from the date of the Initial <br /> ~ Certificate of Obligation, but each substitute Certificate of <br /> Obligation so authenticated after such first scheduled Record <br /> `Date shall bear interest from the interest payment date next <br /> ~!preceding the date on which such substitute Certificate of <br /> ~;Obligation was so authenticated, unless such Certificate of <br /> l`Obligation is authenticated after any Record Date but on or <br /> I before the next following interest payment date, in which case <br /> ~,it shall bear interest from such next following interest <br /> lpayment 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 /> <br /> 10 <br /> s <br /> ~ <br /> s <br />