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<br />e
<br />
<br />e
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<br />ORIGINAL
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<br />satisfaction of the loss, theft, or destruction of such Bond, as the case may be. In every case of damage or
<br />mutilation of a Bond, the registered owner shall surrender to the Paying AgentlRegistrar for cancellation the Bond
<br />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 shall have matured, and no default has occurred which is then continuing in the payment of the principal
<br />of, redemption premium, ifany, 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) Charge for Issuing Replacement Bonds. Prior to the issuance of any replacement bond, the Paying
<br />AgentlRegistrar 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
<br />fact that any Bond is lost, stolen, or destroyed shall constitute a contractual obligation of the City whether or not
<br />the lost, stolen, or destroyed Bond shall be found at any time, or be enforceable by anyone, and shall be entitled
<br />to all the benefits of this Ordinance equally and proportionately with any and all other Bonds duly issued under
<br />this Ordinance.
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<br />(e) Authoritv for Issuing Replacement Bonds. In accordance with Article 717k-6, Vernon's Texas Civil
<br />Statutes, as amended, this Section of this Ordinance shall constitute authority for the issuance of any such
<br />replacement bond without necessity of further action by the governing body of the City or any other body or
<br />person, and the duty of the replacement of such bonds is hereby authorized and imposed upon the Paying Agent!
<br />Registrar, and the Paying AgentlRegistrar shall authenticate and deliver such Bonds in the fonn and manner and
<br />with the effect, as provided in Section 4 of this Ordinance for Bonds issued in exchange for other Bonds.
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<br />Section II. 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,
<br />and their registration by the Comptroller of Public Accounts of the State of Texas. Upon registration of the
<br />Bonds said Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall
<br />manually sign the Comptroller's Registration Certificate attached to such Bonds, and the seal of said Comptroller
<br />shall be impressed, or placed in facsimile, on such Certificate. The approving legal opinion of Akin, Gump,
<br />Strauss, Hauer & Feld, L.L.P., Bond Counsel and the assigned CUSIP numbers may, at the option of the City,
<br />be printed on the Bonds issued and delivered under this Ordinance, but neither shall have any legal effect, and
<br />shall be solely for the convenience and infonnation of the registered owners of the Bonds.
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<br />Section 12. COVENANTS OF THE CITY. (a) General Covenants. The City covenants and represents
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<br />that:
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<br />(i) The City is a duly incorporated Home Rule City, having more than 5000 inhabitants, operating
<br />and existing under the Constitution and laws of the State of Texas, and is duly authorized under the laws
<br />of the State of Texas to create and issue the Bonds; all action on its part for the creation and issuance
<br />of the Bonds has been duly and effectively taken; and the Bonds in the hands of the Owners thereof are
<br />and will be valid and enforceable obligations of the City in accordance with their tenns; and
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<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 City covenants and represents that, while the Bonds are outstanding and
<br />unpaid, it will:
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