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<br />e
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<br />e
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<br />from any loss or damage with respect thereto, Also, in every case of loss, theft, or destruction of a Bond, the
<br />registered owner shall furnish to the Issuer and to the Paying Agenl/Registrar evidence to their satisfaction of the
<br />loss, theft, or destruction of such Bond, as the case may be, In every case of damage or mutilation of a Bond, the
<br />registered owner shall surrender to the Paying Agent/Registrar for cancellation the Bond so damaged or mutilated.
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<br />(c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in the event any such Bond
<br />shall have matured, and no default has occurred which is then continuing in the payment of the principal of, redemp-
<br />tion premium, if any, or interest on the Bond, the Issuer may authorize the payment of the same (without surrender
<br />thereof except in the case of a damaged or mutilated Bond) instead of issuing a replacement Bond, provided security
<br />or indemnity is furnished as above provided in this Section,
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<br />(d) CbarRe for IssuinR Replacement Bonds, Prior to the issuance of any replacement bond, the Paying
<br />Agent/Registrar shall charge the registered owner of such Bond with all legal, printing, and other expenses in
<br />connection therewith. Every replacement bond issued pursuant to the provisions of this Section by virtue of the fact
<br />that any Bond is lost, stolen, or destroyed shall constitute a contractual obligation of the Issuer whether or not the
<br />lost, stolen, or destroyed Bond shall be found at any time, or be enforceable by anyone, and shall be entitled to all
<br />the benefits of this Ordinance equally and proportionately with any and all other Bonds duly issued under this
<br />Ordinance, .
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<br />(e) Authority for IssuinR Replacement Bonds, In accordance with Section 6 of Vernon's Ann. Tex. Civ. St.
<br />Art, 717k-6, this Section of this Ordinance shall constitute authority for the issuance of any such replacement bond
<br />without necessity of further action by the governing body of the Issuer or any other body or person, and the duty
<br />of the replacement of such bonds is hereby authorized and imposed upon the Paying Agent! Registrar, and the Paying
<br />Agent/Registrar shall authenticate and deliver such Bonds in the fonn and manner and with the effect, as provided
<br />in Section 4(a) of this Ordinance for Bonds issued in exchange for other Bonds.
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<br />SECTION 10, CUSTODY, APPROVAL, AND REGISTRATION OF BONDS: BOND COUNSEL'S
<br />OPINION, AND CUSIP NUMBERS. The Mayor of the Issuer is hereby authorized to have control of the Bonds
<br />initially issued and delivered hereunder and all necessary records and proceedings pertaining to the Bonds pending
<br />their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and
<br />their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of the Bonds said
<br />Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign
<br />the Comptroller's Registration Certificate attached to such Bonds, and the seal of said Comptroller shall be
<br />impressed, or placed in facsimile, on such Certificate. The approving legal opinion of McGinnis, Lochridge &
<br />Kilgore, L.L.P., Bond Counsel and the assigned CUSIP numbers may, at the option of the Issuer, be printed on the
<br />Bonds issued and delivered under this Ordinance, but neither shall have any legal effect, and shall be solely for the
<br />convenience and infonnation of t~e registered owners of the Bonds,
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<br />SECTION 11. COVENANTS OF THE ISSUER. (a) General Covenants, The Issuer covenants and represents
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<br />that:
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<br />(i) The Issuer is a duly incorporated Home Rule City, having more than 5000 inhabitants, operating and
<br />existing under the Constitution and laws of the State of Texas, and is duly authorized under the laws of the
<br />State of Texas to create and issue the Bonds; all action on its part for the creation and issuance of the Bonds
<br />has been duly and effectively taken: and the Bonds in the hands of the Owners thereof are and will be valid
<br />and enforceable obligations of the Issuer in accordance with their tenns: and
<br />
<br />(ii) The Bonds shall be ratably secured in such manner that no one Bond shall have preference over
<br />other Bonds,
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<br />(b) Specific Covenants. The Issuer covenants and represents that, while the Bonds are outstanding and unpaid,
<br />it will:
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