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Obligation, in replacement .for such Certificate of Obligation
in the manner hereinafter provided.
(b) Application for Replacement Certificates of Obliga-
tion. Application for replacement of damaged, mutilated,
lost, stolen, or destroyed Certificates of Obligation shall be
made by the registered owner thereof to the Paying
Agent/Registrar. In every case of loss, theft, or destruction
of a Certificate of Obligation, the registered owner applying
for a replacement certificate of obligation shall furnish to
the Issuer and to the Paying Agent/Registrar such security or
indemnity as may be required by them to save each of them
harmless from any loss or damage with respect thereto.- Also,
in every case of loss, theft, or destruction of a Certificate
of Obligation, the registered owner shall furnish to the
Issuer and to the Paying Agent/Registrar evidence to their
satisfaction of the loss, theft, or destruction of such
Certificate of Obligation, as the case may be. In every case
of damage or mutilation of a Certificate of Obligation, the
registered owner shall surrender to the Paying Agent/Registrar
for cancellation the Certificate of Obligation so damaged or
mutilated.
(c) No Default Occurred. Notwithstanding the foregoing
provisions of this Section, in the event any such Certificate
of Obligation shall have matured, and no default has occurred
which is then continuing in the payment of the principal of,
redemption premium, if any, or interest on the Certificate of
Obligation, the Issuer may authorize the payment of the same
(without surrender thereof except in the case.of a damaged or
mutilated Certificate of Obligation) instead of issuing a
replacement Certificate of Obligation, provided security or
indemnity is furnished as above provided in this Section.
(d) Charge for Issuing Replacement Certificates of
Obligation. Prior to the issuance of - any replacement certif-
icate of obligation, the Paying Agent/Registrar shall charge
the registered owner of such Certificate of Obligation with
all legal, printing, and other expenses in connection there-
with. Every replacement certificate of obligation issued
pursuant to the provisions of this Section by virtue of the
fact that any Certificate of Obligation is lost, stolen, or
destroyed shall constitute a contractual obligation of the
Issuer whether or not the lost, stolen, or destroyed Certif-
icate of Obligation shall be found at any time, or be enforce-
able by anyone, and shall be entitled to all the benefits of
this Ordinance equally and proportionately with any and all
other Certificates of Obligation duly issued under this
Ordinance.
(e) Authority for Issuing Replacement Certificates of
Obligation. In accordance with Section 6 of Vernon's Ann.
Tex. Civ. St. Art. 717k-6, this Section.10 of this Ordinance
shall constitute authority for the issuance of any such
replacement certificate of obligation without necessity of
further action by the governing body - of the Issuer or any
other body or person, and the duty of the replacement of such
certificates of obligation is hereby authorized and imposed
upon the Paying Agent/Registrar, and the Paying Agent/Regis-
trar shall authenticate and deliver such Certificates of
Obligation in the form and manner and with the effect, as
provided in Section 6(d) of this Ordinance for Certificates of
Obligation issued in conversion and exchange for other Certif-
icates of Obligation.
Section 11. CUSTODY, APPROVAL, AND REGISTRATION OF
CERTIFICATES OF OBLIGATION; BOND COUNSEL'S OPINION, AND CUSIP
NUMBERS. The Mayor of the Issuer is hereby authorized to have
control of the Initial Certificate of Obligation issued
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