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of the Bonds as provided in this Ordinance to be kept at the principal corporate trust office of the <br /> Bond Registrar,which is hereby constituted and appointed the registrar of the City for the Bonds. <br /> The City is authorized to prepare, and the Bond Registrar or such other agent as the City may <br /> designate shall keep custody of, multiple Bond blanks executed by the City for use in the transfer <br /> and exchange of Bonds. <br /> Any Bond may be transferred or exchanged, but only in the manner, subject to the <br /> limitations, and upon payment of the charges as set forth in this Ordinance. Upon surrender for <br /> transfer or exchange of any Bond at the principal corporate trust office of the Bond Registrar,duly <br /> endorsed by or accompanied by a written instrument or instruments of transfer or exchange in form <br /> satisfactory to the Bond Registrar and duly executed by the registered owner or an attorney for <br /> such owner duly authorized in writing, the City shall execute and the Bond Registrar shall <br /> authenticate, date and deliver in the name of the transferee or transferees or, in the case of an <br /> exchange, the registered owner, a new fully registered Bond or Bonds of like tenor, of the same <br /> series and maturity, bearing the same interest rate, of authorized denominations, for a like <br /> aggregate principal amount. <br /> The Bond Registrar shall not be required to transfer or exchange any Bond during the <br /> period from the close of business on the Record Date for an interest payment to the opening of <br /> business on such interest payment date or during the period of 15 days preceding the giving of <br /> notice of redemption of Bonds or to transfer or exchange any Bond all or a portion of which has <br /> been called for redemption. <br /> The execution by the City of any fully registered Bond shall constitute full and due <br /> authorization of such Bond, and the Bond Registrar shall thereby be authorized to authenticate, <br /> date and deliver such Bond;provided, however, that the principal amount of Bonds of each series <br /> and maturity authenticated by the Bond Registrar shall not at any one time exceed the authorized <br /> -16- <br />