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2~()~ L~e.~g. istration~ The City shall appoint, and shall maintain, a <br />bond regi~trar, transfer agent, authenticating agent and paying agent <br />(Regis, tr~l:)~ The effect of registration and the rights and duties of the <br />City and the Registrar with respect thereto shall be as follows: <br /> <br /> (a~ .R~gister. The Registrar shall keep at its principal corpo- <br /> tr~mt office a bond register in which the Registrar shall provide <br />the registration of ownership of Bonds and the registration of <br />trans£ec~ and exchanges of Bonds entitled to be registered, trans- <br />fers?ed ~r exchanged. <br /> <br /> (b~ Transfer of Bonds. Upon surrender for transfer of any Bond <br />duly e~dorsed by the registered owner thereof or accompanied by a <br />wrii:ten instrument of transfer, in form satisfactory to the Registrar, <br />duly executed by the registered owner thereof or by an attorney duly <br />authorized by the registered owner in writing, the Registrar shall <br />autl~ent~cate and deliver, in the name of the designated transferee or <br />t:ra~sfe~,'ees, one or more new Bonds of a like aggregate principal <br />am.o~mt and maturity, as requested by the transferor. The Registrar <br />may~ however, close the books for registration of any transfer after <br />the ~.J.f~eenth day of the month preceding each interest payment date <br />and u~ti.1 such interest payment date. <br /> <br /> (c> Exchange of Bonds. Whenever any Bonds are surrendered by <br />th~ regLstered owner for exchange the Registrar shall authenticate and <br />deliver one or more new Bonds of a like aggregate principal amount and <br />matu~it¥~ as requested by the registered owner or the owner's attorney <br />J.n w~it~ng. <br /> <br /> (d.~ Cancellation. Ail Bonds surrendered upon any transfer or <br />exchang~ shall be promptly cancelled by the Registrar and thereafter <br />c!isi~osed of as directed by the City. <br /> <br /> (e) I_improper or Unauthorized Transfer. When any Bond is pre- <br />sented to the Registrar for transfer, the Registrar may refuse to <br />tradesmen' the same until it is satisfied that the endorsement on such <br />Bond or separate instrument of transfer is valid and genuine and that <br />the rec!~ested transfer is legally authorized. The Registrar shall <br />Jw:ut. no liability for the refusal, in good faith, to make transfers <br />wh'£ch jt~ in its judgment, deems improper or unauthorized. <br /> <br /> (fl) Persons Deemed Owners. The City and the Registrar may treat <br />the person in whose name any Bond is at any time registered in the <br />bond register as the absolute owner of such Bond, whether such Bond <br />~ha[1 b~ overdue or not, for the purpose of receiving payment of, or <br />on ~cco~tnt of, the principal of and interest on such Bond and for all <br />other parposes, and all such payments so made to any such registered <br />owna~ ~r upon the owner's order shall be valid and effectual to <br />~;at[s£y and discharge the liability upon such Bond to the extent of <br />the ~um or sums so paid. <br /> <br /> (g~ Taxes, Fees and Charges. For every transfer or exchange of <br />Bo~d~;~ the Registrar may impose a charge upon the owner thereof <br /> <br /> <br />