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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, interest rate and tenor in exchange and substitution for and upon' <br /> cancellation of such mutilated bond, or in lieu of and in substitution for such bond destroyed or <br /> lost, upon the owner paying the reasonable expenses and charges of the City and Trustee in <br /> connection therewith, and, in the case of a bond destroyed or lost, his filing with the Trustee <br /> evidence satisfactory to it that such bond was destroyed or lost, and of his ownership thereof, and <br /> furnishing the City and Trustee with indemnity satisfactory to them. The Trustee is hereby <br /> authorized to authenticate any such new bond. In the event any such bond shall have matured, <br /> instead of issuing a new bond,the City may pay the same without the surrender thereof. Upon the <br /> issuance of a new bond under this Section, the City may require the payment of a sum sufficient <br /> to cover any tax or other governmental charge that may be imposed in relation thereto and any <br /> other expenses (including 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, interest rate and series, of authorized denomination or denominations, for the <br /> same aggregate 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 />