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<br />certificated Bonds, the City shall notify the Paying Agent/Registrar, DTC, and Depository Participants of the
<br />availability within a reasonable period of time through DTC of certificated certificates, and the Bonds shall no
<br />longer be restricted to being registered in the name of Cede & Co., as nominee of DTC. At that time, the City may
<br />determine that the Bonds shall be registered in the name of and deposited with a successor depository operating a
<br />securities depository system, as may be acceptable to the City, or such depository's agent or designee, and if the
<br />City and the Paying AgentlRegistrar do not select such alternate securities depository system then the Bonds may be
<br />registered in whatever names the registered owners of Bonds transferring or exchanging the Bonds shall designate,
<br />in accordance with the provisions hereof.
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<br />Notwithstanding any other provision of this Ordinance to the contrary, so long as any Bond is registered in
<br />the name of Cede & Co., as nominee ofDTC, all payments with respect to principal of, premium, if any, and interest
<br />on such Bond and all notices with respect to such Bond shall be made and given, respectively, in the manner
<br />provided in the Representation Letter.
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<br />Section 10. DAMAGED. MUTILATED. LOST. STOLEN. OR DESTROYED BONDS. (a) Replacement
<br />Bonds. In the event any outstanding Bond is damaged, mutilated, lost, stolen, or destroyed, the Paying
<br />Agent/Registrar shall cause to be printed, executed, and delivered, a new bond of the same principal amount,
<br />maturity, and interest rate, as the damaged, mutilated, lost, stolen, or destroyed Bond, in replacement for such Bond
<br />in the manner hereinafter provided.
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<br />(b) Application for Replacement Bonds. Application for replacement of damaged, mutilated, lost, stolen,
<br />or destroyed Bonds shall be made by the registered owner thereof to the Paying Agent/Registrar. In every case of
<br />loss, theft, or destruction of a Bond, the registered owner applying for a replacement bond shall furnish to the City
<br />and to the Paying Agent/Registrar such security or indemnity as may be required by them to save each of them
<br />harmless from any loss or damage with respect thereto. Also, in every case of loss, theft, or destruction of a Bond,
<br />the registered owner shall furnish to the City and to the Paying AgentlRegistrar 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
<br />Bond sha1l have matured, and no default has occurred which is then continuing in the payment of the principal of,
<br />redemption premium, if any, or interest on the Bond, the City may authorize the payment of the same (without
<br />surrender thereof except in the case of a damaged or mutilated Bond) instead of issuing a replacement Bond,
<br />provided security or indemnity is furnished as above provided in this Section.
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<br />(d) Charl!e for Issuinl! Replacement Bonds. Prior to the issuance of any replacement bond, the Paying
<br />Agent/Registrar shall charge the registered owner of such Bond with a1l 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 City whether or not the lost,
<br />stolen, or destroyed Bond shall be found at any time, or be enforceable by anyone, and shall be entitled to all the
<br />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 Issuinl! Replacement Bonds. In accordance with Chapter 1201, Texas Government Code,
<br />as amended, 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 City or any other body or person, and the duty of
<br />the replacement of such bonds is hereby authorized and imposed upon the Paying Agent/ Registrar, and the Paying
<br />AgentlRegistrar shall authenticate and deliver such Bonds in the form and manner and with the effect, as provided in
<br />Section 4 of this Ordinance for Bonds issued in exchange for other Bonds.
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<br />Section 11. CUSTODY. APPROVAL. AND REGISTRATION OF BONDS: BOND COUNSEL'S
<br />OPINION. AND CUSIP NUMBERS. The Mayor of the City 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
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