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Obligation has been issued,in conversion 9f and exchange for
or replacement of a certificate of obligation, certificates of
obligation, or a portion of a certificate of obligation or
certificates of obligation of an issue which originally was
approved by the Attorney General of the State of Texas and
registered by the Comptroller of. Public Accounts of the State
of Texas.
Dated
Paying Agent/Registrar
By
Authorized Representative
An authorized representative of the Paying Agent/Registrar
shall, before the delivery of any such Certificate of
Obligation, date and manually sign the above Certificate, and
no such Certificate of Obligation shall be deemed to be issued
or outstanding unless such Certificate is so executed. The
Paying Agent/Registrar promptly shall cancel all Certificates
of Obligation surrendered for conversion and exchange or
replacement. No additional ordinances, orders, or resolutions
need be passed or adopted by the governing body of the Issuer
or any other body or person so as to accomplish the foregoing
conversion and exchange or replacement of any Certificate of
Obligation or portion thereof, and the Paying Agent/Registrar
shall provide for the printing, execution, and delivery of the
substitute Certificates of Obligation in the manner prescribed
herein, and said Certificates of Obligation shall be of type
composition printed on paper with lithographed or steel
engraved borders of customary weight and strength. Pursuant
to Vernon's Ann. Tex. Civ. St. Art. 717k-6, and particularly
Section 6 thereof, the duty of conversion and exchange or
replacement of Certificates of Obligation as aforesaid is
hereby imposed upon the Paying Agent/Registrar, and, upon the
execution of the above Paying Agent/Registrar's Authentication
Certificate, the converted and exchanged' or replaced
Certificate of Obligation shall be valid, incontestable, and
enforceable in the same manner and with the same effect as the
Initial Certificate of Obligation which originally was issued
pursuant to this Ordinance, approved by the Attorney General,
and registered by the Comptroller of Public Accounts. The
Issuer shall pay the Paying Agent/Registrar's standard or
customary fees and charges for transferring, converting, and
exchanging any Certificate of Obligation or any portion
thereof, but the one requesting any such transfer, conversion,
and exchange shall pay any taxes or governmental charges
required to be paid with respect thereto as a condition
precedent to the exercise of such privilege of conversion and
exchange. The Paying Agent/Registrar shall not be required to
make any such conversion and exchange or replacement of
Certificates of Obligation or any portion thereof (i) during
the period commencing with the close of business on any Record
Date and ending with the opening. of business on the next
following principal or interest payment date, or, (ii) with
respect to any Certificate of Obligation or portion thereof
called for redemption prior to maturity, within 45 days prior
to its redemption date.
(e) In General. All Certificates of Obligation issued
in conversion and exchange or replacement of any other
Certificate of Obligation or portion thereof, (i) shall be
issued in fully registered form, without interest coupons,
with the principal of and interest on such Certificates of
Obligation to be payable only to the registered owners
thereof, (ii) may be redeemed prior to their scheduled maturi-
ties, (iii) may be transferred and assigned, (iv) may be
converted and exchanged for other Certificates of Obligation,
(v) shall have the characteristics, (vi) shall be'signed and
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