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Section 6. , ADDITIONAL '-CHARACTERISTICS OF THE BONDS.
Fegistration and Transfer.., (a) The Issuer shall keep or cause
to be kept at the principal 'corporate trust office of First
City 'National Bank of Austin,, Austin, Texas, (the "Paying
Agent/Registrar")_ books,xor records 'of. the registration and
transfer of the-+ Bonds (the "Registration Books"), and the
Issuer hereby appoints the Paying Agent/Registrar as its regis-
trar and transfer agent to keep such books or records and make
such transfers and registrations under such reasonable regula-
tions as
egula-tions<as the Issuer and Paying agent/Registrar may prescribe;,
and the Paying Agent/Registrar shalt make such transfers and
registrations as herein provided..The Paying Agent/Registrar.
shall,obtain and record.in the Registration Books the address
of the registered owner of each Bond to which payments with
respect to the Bonds shall be mailed,. as herein provided; but
it shall be the duty of each registered owner to notify the
Paying Agent/Registrar in writing of the, address. to which
payments shall be mailed, and such interest payments shall not
be mailed unless such notice has been given.. The Issuer shall
have the right to inspect the Registration Books during regular
business hours of the Paying Agent/Registrar, but otherwise the
Paying Agent/Registrar shall keep the Registration Books
confidential, and, unless othearwiso required by law, shell not
permit their w,inspection eby,.any other entity. Registration of
ea4-i , Bond may.- be transferred . in - the• Registration Books only
upon presentation and surrender'=of such Bond to -the Paying
Agent/Registrar-far transfer of registration and cancellation,
together.with proper written -instruments of assignment, in form
and with -guarantee of, signatures satisfactory, to' the Paying
Agent/Registrar, (i) evidencing the assignment of ,the Bond, or
any portion thereof in any integral '.tnultiple of $5,000, to the
assignee, or. .,assignees thereof, <,and (ii) .the right of such
assignee -or assignees to have the' Bond or any :such portion
thereof registered in the name of such assignee or, assignees.
Upon the assignment and transfer,.of any Bond, or any portion
thereof, a, new: substitute Bond or Bonds shall be issued in
conversion and exchange therefor in the manner herein provided.
The Initial. Bond, to the extent of the unpaid or unredeemed
principal, balance thereof, maybe' assigned and transferred by
the initial registered owner thereof once only, and, to one or
more ,assignees designated in writing by the initial registered
owner thereof. All Bonds issued and delivered in conversion of
and exchange for the Initial Bond shall be in any denomination
or -denominations of any integral 'multiple of $5,000 (subject to
the requirement. hereinafter: stated that each substitute Bond
shall have a single stated principal maturity date), shall be,
i.,za the;£arm prescribed in the FORM -OF SUBSTITUTE -BOND set forth
in this Ordinance, and shall have the characteristics, and may
be assigned,, transferred, slid converted as hereinafter'pro-
vided,.
provided,. If the Initial Bond or .any portion thereof is -assigned
and transferred or converted the Initial Bond must be surren-
dered to the Paying Agent/Registrar for cancellation,' and each
Bond issued ,in exchange for any portion of the :Initial Bond
shall have, a sinale 'stated principal tmaturIty date, and shall
not be payable in installments; and each such Bond -shall have a
principal maturity, date corresponding to- the, due date of the
installment - of principal or portion thereof ,for which the
substitute Bond is being exchanged; and each such Bond shall
bear :interest at the single rate applicable , to,, and borne by
such installment of principal; or portion thereof for which it
is being exchanged. If only a portion of the Initial Bond is
assigned and transferred,, there- shall be delivered to and
registered in the name of the initial registered owner substi-
tute Bonds in exchange for the ;Unassigned balance of the
Initial Bond in the same manner as if the initial registered
owner were: the assignee thereof."' It any Bond or portion
thereof other than :the Ind tial=Bond is assigned and transferred
or convez-ted each: Foiid issued in "exchange therefor shall have
the same principal, maturity date and beam interest at, the same
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