currency which on the date of such payment shall be legal tender for the payment of public and
<br /> private debts, or in the case of a registered owner of$1,000,000 or more in principal amount of
<br /> 2014 Bonds, by wire transfer on the due date upon written direction of such owner provided at
<br /> least fifteen (15)days prior to the maturity date or redemption date.
<br /> Interest on 2014 Bonds shall be payable from the interest payment date to which interest
<br /> has been paid next preceding the authentication date thereof unless such 2014 Bonds are
<br /> authenticated after the Record Date for an interest payment 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 /> (d) Transfer and Exchange. Each 2014 Bond shall be transferable or
<br /> exchangeable only upon the Registration Record, by the registered owner thereof in writing, or
<br /> by the registered owner's attorney duly authorized in writing, upon surrender of such 2014 Bond
<br /> 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 2014
<br /> Bond or Bonds in the same aggregate principal amount, and of the same maturity, shall be
<br /> executed and delivered in the name of the transferee or transferees or the registered owner, as the
<br /> case may be, in exchange therefor. The costs of such transfer or exchange shall be borne by the
<br /> Commission, except for any tax or governmental charges required to be paid in connection
<br /> therewith, which shall be payable by the person requesting such transfer or exchange. The City,
<br /> the Commission, the Registrar and the Paying Agent may treat and consider the persons in whose
<br /> names such 2014 Bonds are registered as the absolute owners thereof for all purposes including
<br /> for the purpose of receiving payment of, or on account of, the principal thereof and interest and
<br /> premium, if any, due thereon.
<br /> (e) Mutilated. Lost, Stolen or Destroyed Bonds. In the event any 2014 Bond
<br /> is mutilated, lost, stolen or destroyed, the City may execute and the Registrar may authenticate a
<br /> new bond of like date, maturity and denomination as that mutilated, lost, stolen or destroyed,
<br /> which new bond shall be marked in a manner to distinguish it from the bond for which it was
<br /> issued, provided that, in the case of any mutilated bond, such mutilated bond shall first be
<br /> surrendered to the Registrar, and in the case of any lost, stolen or destroyed bond there shall be
<br /> first furnished to the Registrar evidence of such loss, theft or destruction satisfactory to the
<br /> Controller and the Registrar, together with indemnity satisfactory to them. In the event any such
<br /> bond shall have matured, instead of issuing a duplicate bond, the City and the Registrar may,
<br /> upon receiving indemnity satisfactory to them, pay the same without surrender thereof. The City
<br /> and the Registrar may charge the owner of such 2014 Bond with their reasonable fees and
<br /> expenses in this connection. Any 2014 Bond issued pursuant to this paragraph shall be deemed
<br /> an original, substitute contractual obligation of the City, acting for and on behalf of the District,
<br /> whether or not the lost, stolen or destroyed 2014 Bond shall be found at any time, and shall be
<br /> entitled to all the benefits of this resolution, equally and proportionately with any and all other
<br /> 2014 Bonds issued hereunder.
<br /> SECTION 4. Terms of Redemption. The 2014 Bonds are not subject to optional
<br /> redemption.
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