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on the date of such payment shall be legal tender for the payment of public and private debts, or
<br /> in the case of a registered owner of$1,000,000 or more in principal amount of 2012 Bonds, by
<br /> wire transfer on the due date upon written direction of such owner provided at least fifteen (15)
<br /> days prior to the maturity date or redemption date.
<br /> Interest on 2012 Bonds shall be payable from the interest payment date to which interest
<br /> has been paid next preceding the authentication date thereof unless such 2012 Bonds are
<br /> authenticated after the Record Date for an interest payment date and on or before such interest
<br /> payment date in which case they shall bear interest from such interest payment date, or unless
<br /> authenticated on or before the Record Date for the first interest payment date, in which case they
<br /> shall bear interest from the original date, until the principal shall be fully paid.
<br /> SECTION 4. Transfer and Exchange of Bonds. Each 2012 Bond shall be transferable
<br /> or exchangeable only upon the Registration Record, by the registered owner thereof in writing,
<br /> or by the registered owner's attorney duly authorized in writing, upon surrender of such 2012
<br /> Bond together with a written instrument of transfer or exchange satisfactory to the Registrar duly
<br /> executed by the registered owner or such attorney, and thereupon a new fully registered 2012
<br /> Bond or Bonds in the same aggregate principal amount, and of the same maturity, shall be
<br /> executed and delivered in the names of the transferee or transferees or the registered owner, as
<br /> the case may be, in exchange therefor. The costs of such transfer or exchange shall be borne by
<br /> the City except for any tax or governmental charge required to be paid with respect to the
<br /> transfer or exchange, which taxes or governmental charges are payable by the person requesting
<br /> such transfer or exchange. The City, the Registrar and the Paying Agent may treat and consider
<br /> the persons in whose names such 2012 Bonds are registered as the absolute owners thereof for all
<br /> purposes including for the purpose of receiving payment of, or on account of, the principal
<br /> thereof and interest and premium, if any, due thereon.
<br /> In the event any 2012 Bond is mutilated, lost, stolen or destroyed, the City may execute
<br /> and the Registrar may authenticate a new bond of like date, maturity and denomination as that
<br /> mutilated, lost, stolen or destroyed, which new bond shall be marked in a manner to distinguish it
<br /> from the bond for which it was issued, provided that, in the case of any mutilated bond, such
<br /> mutilated bond shall first be surrendered to the Registrar, and in the case of any lost, stolen or
<br /> destroyed bond there shall be first furnished to the Registrar evidence of such loss, theft or
<br /> destruction satisfactory to the Fiscal Officer and the Registrar, together with indemnity
<br /> satisfactory to them. In the event any such bond shall have matured, instead of issuing a
<br /> duplicate bond, the City and the Registrar may, upon receiving indemnity satisfactory to them,
<br /> pay the same without surrender thereof. The City and the Registrar may charge the owner of
<br /> such 2012 Bond with their reasonable fees and expenses in this connection. Any 2012 Bond
<br /> issued pursuant to this paragraph shall be deemed an original, substitute contractual obligation of
<br /> the City, whether or not the lost, stolen or destroyed 2012 Bond shall be found at any time, and
<br /> shall be entitled to all the benefits of this Ordinance, equally and proportionately with any and all
<br /> other 2012 Bonds issued hereunder.
<br /> ,SECTION 5. Registrar and ]Paving Agent. The Fiscal Officer is hereby authorized to
<br /> appoint a qualified financial institution to serve as Registrar and Paying Agent for the 2012
<br /> Bonds (together with any successor, the "Registrar" or "Paying Agent"). The Registrar is hereby
<br /> charged with the responsibility of authenticating the 2012 Bonds, and shall keep and maintain
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