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. e the Bonds. . Bonds receiving the manual or facsimile signa- tures of individu~ls who were at the time the duly elected or appointed officers of the Authority shall be binding upon the Authority notwithstanding such individuals or any of them shall cease to hold such offices prior to the certi- fication, registration, . authentication or delivery of such Bonds 'or. shall not ':have held such office on the date of such Bonds, alr'as 'provided in the Act and the Bond Procedures Act of 1981, as amended. The Initial Bonds, each payable to the purchaser named in Section 14 hereof, shall be executed and submitted to the Attorney General of Texas for approval, and thereupon certified by the Comptroller of Public Accounts of the State of Texas by his manual signature or by the manual signature of one .of his deputies thereunto duly authorized. No Bond authorized by this Resolution shall be entitled to any right or benefit hereunder, or be valid or obligatory for any purpose "unless the Comptroller of Public Accounts of the State of Texas or his duly authorized agent shall have executed a "Registration Certificate substantially in tne form'of'the Registration Certificate of Comptroller of Public Accounts set forth in Section 3.02 hereof or the Paying Agent/Registrar'shall have executed a Certificate of Authentication substantially in the form of ' the Certificate of Authentication of Paying Agent/Registrar set forth in Section 3.03 hereof, and either such executed certificate upon any Bond shall be conclusive evidence that such Bond has been executed and delivered pursuant to this Resolution. 2.08. Paying Agent/Re~istrar. The Authority covenants at all times to mainta1n a Paying Agent/Registrar for the Bonds meeting the qualifications herein set forth, and, subject to the remaining provisions of this Section 2.08, hereby appoints First City National Bank of Houston, Houston, Texas, initially to serve in such capacity. The form, terms and provisions of the proposed Agreement between the Authority and First City National Bank of Houston, Houston, Texas, providing for such appointment, a draft of which is attached to this Resolution as Exhibit A, are hereby approved'in all respects, and the President or Vice President and Secretary or Assistant Secretary of the Board are hereby authorized and directed to execute and deliver an agreement substantially in the form of such Agreement, with such changes thereJ.n.-JIJ?.:...-.1;h.~.:..Q.~!ic_~rl:!_~~ecuting the same Sh~111;.8a:s':evideilGed':";by;~their.'-signatures' there.on; approve".' :. The Authority expressly'reserves the right to appoint one or more-successor Paying Agent/Registrars by (1) filing with the Paying Agent/Registrar then serving a certified copy of a resolution or order giving notice of the termination of the Authority's agreement with such Paying Agent/Registrar 022DESAO/024C05 -9-