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such owner at his address on such registration books. Principal of the bonds shall be payable at <br />the corporate trust office of the Trustee. <br />Each bond shall bear interest from the payment date next preceding the date on <br />which it is authenticated unless it is authenticated on an interest payment date, in which event it <br />shall bear interest from such date, or unless it is authenticated prior to the first interest payment <br />date, in which event it shall bear interest from its dated date, or unless it is authenticated during <br />the period from the Record Date to the next interest payment date, in which case it shall bear <br />interest from such interest payment date, or unless at the time of authentication thereof interest is <br />in default thereon, in which event it shall bear interest from the date to which interest has been <br />paid. <br />Only such bonds as shall have endorsed thereon a Certificate of Authentication <br />substantially in the form set forth in Section 6 hereof (the "Certificate") duly executed by the <br />Trustee shall be entitled to any right or benefit under this Ordinance. No bond shall be valid and <br />obligatory for any purpose unless and until the Certificate shall have been duly executed by the <br />Trustee, and the Certificate of the Trustee upon any such bond shall be conclusive evidence that <br />such bond has been authenticated and delivered under this Ordinance. The Certificate on any bond <br />shall be deemed to have been executed if signed by an authorized officer of the Trustee, but it shall <br />not be necessary that the same officer sign the Certificate on all of the bonds. <br />In case any bond shall become mutilated or be destroyed or lost, the City shall, if <br />not then prohibited by law, cause to be executed and the Trustee may authenticate and deliver a <br />new bond of like date, maturity and tenor in exchange and substitution for and upon cancellation <br />of such mutilated bond, or in lieu of and in substitution for such bond destroyed or lost, upon the <br />owner paying the reasonable expenses and charges of the City and Trustee in connection therewith, <br />and, in the case of a bond destroyed or lost, his filing with the Trustee evidence satisfactory to it <br />that such bond was destroyed or lost, and of his ownership thereof, and furnishing the City and <br />Trustee with indemnity satisfactory to them. The Trustee is hereby authorized to authenticate any <br />such new bond. In the event any such bond shall have matured, instead of issuing a new bond, the <br />City may pay the same without the surrender thereof. Upon the issuance of a new bond under this <br />Section, the City may require the payment of a sum sufficient to cover any tax or other <br />governmental charge that may be imposed in relation thereto and any other expenses (including <br />the fees and expenses of the Trustee) connected therewith. <br />The City shall cause books to be maintained for the registration and for the transfer <br />of the bonds as provided herein and in the bonds. The Trustee shall act as the bond registrar. Each <br />bond is transferable by the registered owner thereof or by his attorney duly authorized in writing <br />at the principal office of the Trustee. Upon such transfer a new fully registered bond or bonds of <br />the same maturity and series, of authorized denomination or denominations, for the same aggregate <br />principal amount will be issued to the transferee in exchange therefor. <br />Bonds may be exchanged at the principal corporate trust office of the Trustee for <br />an equal aggregate principal amount of bonds of any other authorized denomination or <br />denominations. The City shall execute and the Trustee shall authenticate and deliver bonds which <br />the registered owner making the exchange is entitled to receive. <br />5 <br />