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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.
<br />As set forth above, all or a portion of the 2014 Bonds may be aggregated into and issued as one
<br />or more term bonds. The President of the Commission, with the advice of the Commission's
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