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U <br />any bond registered as to principal shall remain payable to bearer <br />notwithstanding such registration. No charge shall be made to any <br />bondholder for the privilege of registration and transfer herein- <br />above granted, but any bondholder requesting any such registration <br />or transfer shall pay any tax or other governmental charge required <br />to be paid with respect thereto. As to any bond registered as to <br />principal, the person in whose name the same shall be registered <br />shall be deemed and regarded as the absolute owner thereof for all <br />purposes and payment of or on account of the principal of any such <br />bond shall be made only to or upon the order of the registered owner <br />thereof, or his legal representative, and neither the City, the <br />Trustee, nor the bond registrar shall be affected by any notice to <br />the contrary, but such registration may be changed as herein pro- <br />vided. All such payments shall be valid and effectual to satisfy <br />and discharge the liability upon such bond to the extent of the sum <br />or sums so paid. The City, the Trustee, the bond registrar and the <br />paying agent may deem and treat the bearer of any bond which shall <br />not at the time be registered as to principal, and the bearer of any <br />coupon appertaining to any bond, whether such bond be registered <br />as to principal or not, as the absolute owner of such bond or <br />coupon, as the case may be, whether such bond or coupon shall be <br />overdue or not, for the purpose of receiving payment thereof and <br />for all other purposes whatsoever, and neither the City, the Trustee, <br />the bond registrar nor the paying agent shall be affected by any <br />notice to the contrary. <br />Section 210. As heretofore stated, the electors in <br />the special election approved the issuance of not to exceed $1,000,nm <br />in unconverted principal amount of bonds. There are initially beIn8 <br />issued only $900,000 in unconverted principal amount of bonds, and <br />the City reserves the right to subsequently issue the remaining <br />$100,000 in principal amount for the purpose of constructing <br />additional improvements, extensions and betterments to this <br />project and/or purchasing and installing additional machinery, <br />equipment and fixtures on a parity of security with the bonds <br />initially being issued hereunder. Any such additional bonds shall <br />be issued only if there is exeenited a supplements]. 'Lease agreement <br />