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Upon surrender for transfer of any Bond at the <br /> principal office of the Bond Registrar, the City shall execute <br /> (if necessary) , and the Bond Registrar shall authenticate, insert <br /> the date of registration (as provided in paragraph 9 with respect <br /> to authentication) of, and deliver, in the name of the designated <br /> transferee or transferees, one or more new Bonds of any <br /> authorized denomination or denominations of a like aggregate <br /> principal amount, having the same stated maturity and interest <br /> rate, as requested by the transferor; provided, however, that no <br /> Bond may be registered in blank or in the name of "bearer" or <br /> similar designation. <br /> At the option of the Holder, Bonds may be exchanged for <br /> Bonds of any authorized denomination or denominations of a like <br /> aggregate principal amount and stated maturity, upon surrender of <br /> the Bonds to be exchanged at the principal office of the Bond <br /> Registrar. Whenever any Bonds are so surrendered for exchange, <br /> the City shall execute (if necessary) , and the Bond Registrar <br /> shall authenticate, insert the date of registration of, and <br /> deliver the Bonds which the Holder making the exchange is <br /> entitled to receive. <br /> All Bonds surrendered upon any exchange or transfer <br /> provided for in this resolution shall be promptly cancelled by <br /> the Bond Registrar and thereafter disposed of as directed by the <br /> City. <br /> All Bonds delivered in exchange for or upon transfer of <br /> Bonds shall be valid general obligations of the City evidencing <br /> •the same debt, and entitled to the same benefits under this <br /> resolution, as the Bonds surrendered for such exchange or <br /> transfer. <br /> Every Bond presented or surrendered for transfer or <br /> exchange shall be duly endorsed or be accompanied by a written <br /> instrument of transfer, in form satisfactory to the Bond <br /> Registrar, duly executed by the Holder thereof or his, her or its <br /> attorney duly authorized in writing. <br /> The Bond Registrar may require payment of a sum <br /> sufficient to cover any tax or other governmental charge payable <br /> in connection with the transfer or exchange of any Bond and any <br /> legal or unusual costs regarding transfers and lost Bonds . <br /> Transfers shall also be subject to reasonable regula- <br /> tions of the City contained in any agreement with the Bond <br /> Registrar, including regulations which permit the Bond Registrar <br /> to close its transfer books between record dates and payment <br /> dates . The Administrator is hereby authorized to negotiate and <br /> execute the terms of said agreement . <br /> 1194249.1 19 <br />