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(c) Exchange of Bonds. When Bonds are surrendered by the registered
<br />owner for exchange the Registrar will authenticate and deliver one or more new Bonds of a like
<br />aggregate principal amount and maturity, as requested by the registered owner or the owner's
<br />attorney in writing,..
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<br /> (d) Cancellation. Bonds surrendered upon any transfer or exchange will be
<br />pro~nptly ~za-qrzclled by the Registrar and thereafter disposed of as directed by the City.
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<br /> (e) Improper or Unauthorized Transfer. When a Bond is presented to the
<br />Registrar for trat~sfer, the Registrar may refuse to transfer the Bond until the Registrar is satisfied
<br />that the er~dor.scmt:nt on such Bond or separate instrument of transfer is valid and genuine and that
<br />the requested [ran:4er is legally authorized. The Registrar will incur no liability for the refusal, in
<br />good faith, to make t~ansfers which it, in its judgment, deems improper or unauthorized.
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<br /> (0 Persons Deemed Owners. The City and the Registrar may treat the
<br />person in wh~ ~sc nmne a Bond is registered in the bond register as the absolute owner of the Bond,
<br />whether the Bond is overdue or not, for the purpose of receiving payment of, or on account of, the
<br />principal of ;md i,~terest on the Bond and for all other purposes, and payments so made to a
<br />registered owner c~r upon the owner's order will be valid and effectual to satisfy and discharge the
<br />liability upon sm;h Bond to the extent of the sum or sums so paid.
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<br /> (g) Taxes, Fees and Charges. For a transfer or exchange of Bonds, the
<br />Registrar may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any
<br />tax, fee, or other g,~vernmental charge required to be paid with respect to the transfer or exchange.
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<br /> (h) Mu.tilated, Lost, Stolen or Destroyed Bonds. If a Bond becomes
<br />~nutilated or is destroyed, stolen or lost, the Registrar will deliver a new Bond of like amount,
<br />nmnber, mattmty date and tenor in exchange and substitution for and upon cancellation of the
<br />mutilated Bond or in lieu of and in substitution for a Bond destroyed, stolen or lost, upon the
<br />payment of the reasonable expenses and charges of the Registrar in connection therewith; and, in
<br />the case ora Bond destroyed, stolen or lost, upon filing with the Registrar of evidence satisfactory
<br />to it that the Bo~d was destroyed, stolen or lost, and of the ownership thereof, and upon
<br />furnishing to the Registrar of an appropriate bond or indemnity in form, substance and amount
<br />satisfactory ~.o the Registrar, in which both the City and the Registrar must be named as obligees.
<br />Bonds so st~rrendered to the Registrar will be cancelled by the Registrar and evidence of such
<br />cancellation n m si be given to the City. If the mutilated, destroyed, stolen or lost Bond has already
<br />matured or been c~dled for redemption in accordance with its terms it is not necessary to issue a
<br />new Bond p~ior to payment.
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<br /> (i) ~Redemption. In the event any of the Bonds are called for redemption,
<br />notice therc,,f identifying the Bonds to be redeemed will be given by the Registrar by mailing a
<br />copy of the redemption notice by first class mail (postage prepaid) not more than 60 and not less
<br />than 30 day~; prior to the date fixed for redemption to the registered owner of each Bond to be
<br />redeemed at thc address shown on the registration books kept by the Registrar and by publishing
<br />the notice in thc manner required by law. Failure to give notice by publication or by mail to any
<br />registered owner, or any defect therein, will not affect the validity of any proceeding for the
<br />redemptio~ of Bonds. Bonds so called for redemption will cease to bear interest after the specified
<br />redemption datc, provided that the funds for the redemption are on deposit with the place of
<br />payment at that
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<br /> 2.0/i.. Appointment of Initial Registrar. The City appoints First Trust National
<br />Association, St. Paul ,Minnesota, as the initial Registrar. The Mayor and the City Administrator
<br />are authorized to execute and deliver, on behalf of the City, a contract with the Registrar. Upon
<br />merger or {:onsoli&~.tion of the Registrar with another corporation, if the resulting corporation is a
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