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giving of notice of redemption of Bonds or to transfer or exchange any Bond all or a <br /> portion of which has 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 <br /> authenticate, date and deliver such Bond; provided, however, that the principal amount of <br /> Bonds of each maturity authenticated by the Bond Registrar shall not at any one time exceed <br /> the authorized principal amount of Bonds for such maturity less the amount of such Bonds <br /> which have been paid. <br /> The person in whose name any Boncl shall be registered shall be deemed and regazded <br /> as the absolute owner thereof for all purposes, and payment of the principal of or interest on <br /> any Bond shall be made only to or upon the order of the registered owner thereof or his <br /> legal representative. All such payments shall be valid and effectual to satisfy and discharge <br /> the liability upon such Bond to the extent of the sum or sums so paid. <br /> No service charge shall be made for any transfer or exchange of Bonds, but the City <br /> or the Bond Registrar may require payment of a sum sufficient to cover any tax or other <br /> governmental charge that may be imposed in connection with any transfer or exchange of <br /> Bonds. <br /> Section 10. Form of Bond. The Bonds shall be in substantially the form hereinafter <br /> set forth; provided, however, that if the text of the Bonds is to be printed in its entirety on <br /> the front side of the Bonds, then the second paragraph on the front side and the legend "See <br /> Reverse Side for Additional Provisions" shall be omitted and the text of paragraphs set forth <br /> for the reverse side shall be inserted immediately after the �rst paragraph. <br /> -11- <br />