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<br />characteris tics, (vi) shall be signed, sealed, executed, and au then tica ted,
<br />(vii) shall have the principal of and interest on the Bonds be payable, and
<br />(viii) shall be administered and' the Paying Agent/Registrar and the Issuer
<br />shall have certain duties and responsibilities with respect to the Bonds, all
<br />as provided, and in the manner and to the effect as required or indicated,
<br />in the FORM OF BOND set forth in this Ordinance. The Bonds initially
<br />issued and delivered pursuant to this Ordinance numbered R-l through R-
<br />14 (collectively, the "Initial Bonds") shall be delivered to the initial
<br />purchaser and are not required to be, and shall not be, authenticated by
<br />the Paying Agent/Registrar, but on each substitute Bond issued in ex-
<br />change for the Initial Bonds or any Bond or Bonds issued under this
<br />Ordinance the Paying Agent/Registrar shall execute the PAYING
<br />AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE, in the form set
<br />forth in the FORM OF BOND.
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<br />(d) Substitute Payine; Ae;ent/Ree;istrar. The Issuer covenants
<br />with the registered owners of the Bonds that at all times while the Bonds
<br />are outstanding the Issuer will provide a competent and legally qualified
<br />bank, trust company, financial institution, or other agency to act.. as and
<br />perform the services of Paying Agent/Registrar for the Bonds under this
<br />Ordinance, and that the Paying Agent/Registrar will be one entity. The
<br />Issuer reserves the right to~' and may, at its option, change the Paying
<br />Agent/Registrar upon not less than 120 days written notice' to the Paying
<br />Agent/Registrar, to be effective not later than 60 days prior to the next
<br />principal or interest payment date after such notice. In the event that the
<br />entity at any time acting as Paying Agent/Registrar (or ..its successor by
<br />merger, acquisition, or other method) should resign or otherwise cease to
<br />act as such, the Issuer covenants that 'promptly it will appoint a competent
<br />and legally qualified bank, trust company, financial institution, or other
<br />agency to act as Paying Agent/Registrar under this Ordinance. Upon any
<br />change in the Paying Agent/Registrar, the previous Paying Agent/Registrar
<br />promptly shall 'transfer and deliver the Registration Books (or a copy
<br />thereof), along with all other pertinent books 'and records relating to the
<br />Bonds, to the new Paying Agent/Registrar designated and appointed by the
<br />Issuer. ,Upon any change in the Paying Agent/Registrar, the Issuer
<br />promptly will cause a written notice thereof to be sent by the new Paying
<br />Agent/Registrar to each registered owner of the Bonds, by United States
<br />mail, first-class postage prepaid, which notice also shall give the address of
<br />the new Paying Agent/ Registrar. By accepting the position and performing
<br />as such, each Paying Agent/Registrar shall be deemed to have agreed to the
<br />provisions of this Ordinance, and a certified copy of this Ordinance shall be
<br />delivered to each Paying Agent/Registrar.
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<br />SECTION 6. FORMS. The form of all Bonds, including the form
<br />of Paying Agent/Registrar's Certificate, the Form of Assignment, the form of
<br />Statement of Insurance, and the form of the Comptroller's Registration
<br />Certificate to accompany the Bonds on the initial delivery thereof, shall be,
<br />respectively, substantially as follows, with such appropriate variations,
<br />omissions, or insertions as are permitted or required by this Ordinance:
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