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bond shall be made oi!.ly to or u1pon Lne orCier of the r j'StereQ o'vvner thereof, or l_is legal representative, and neither the City, the Tru..stee, nor the mond regis- trar shall be affected by any notice to the contrary, but such registration may be changed as herein provided. All such payments shall be valid and effectual to satisfy and discharge the liability upon such coupon bond to the extent of the sum or sums so paid. The City, the Trustee, the bo id registrar and the Paying Agent may deem and treat the bearer of any bond which shall riot at the time be registered as to principal, and the bearer of any coupon appertaining to any bond, whether such bond be registered as to principal or not, as the absolute owner of such bond or coupon, as the case may be, whether such bond or coupon shall be overdue or not, for the purpose of receiving payment thereof and for all other purposes whatsoever, and neither the City, the Trustee, the bond registrar nor the Paying Agent shall be affected by any notice to the contrary.