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(c) paid all expenses and charges in connection therewith, including, but not limited to, printing costs, legal fees, fees of the Paying AgentJRegistrar and any tax or other governmental charge that may be imposed; and (d) met any other reasonable requirements of the City and the Paying AgentJRegistrar . If, after the delivery of such replacement Obligation, a bona fide purchaser of the original Obligation in lieu of which such replacement Obligation was issued presents for payment such original Obligation, the City and the Paying AgentJRegistrar shall be entitled to recover such replacement Obligation from the person to whom it was delivered or any person taking therefrom, except a bona fide purchaser, and shall be entitled to recover upon the security or indemnity provided therefor to the extent of any loss, damage, cost or expense incurred by the City or the Paying AgentJRegistrar in connection therewith. If any such mutilated, lost, apparently destroyed or wrongfully taken Obligation has become or is about to become due and payable, the City in its discretion may, instead of issuing a replacement Obligation, authorize the Paying Agent/Registrar to pay such Obligation. Each replacement Obligation delivered in accordance with this Section shall be entitled to the benefits and security of this Ordinance to the same extent as the Obligation or Obligations in lieu of which such replacement Obligation is delivered. Section 3.10: Cancellation. All Obligations paid in accordance with this Ordinance, and all Obligations in lieu of which exchange Obligations or replacement Obligations are authenticated and delivered in accordance herewith, shall be canceled and destroyed upon the making of proper records regarding such payment. The Paying Agent/Registrar shall periodically furnish the City with certificates of destruction of such Obligations. ARTICLE IV FORM OF OBLIGATIONS The Obligations, including the Form of Comptroller's Registration Certificate, Form of Paying AgentJRegistrar's Authentication Certificate, and Form of Assignment, shall be in substantially the form of Exhibit B hereto, with such omissions, insertions and variations as may be necessary or desirable, and not prohibited by this Ordinance. ARTICLE V SECURITY FOR THE OBLIGATIONS Section 5.1: Pledge and Levy of Taxes. (a) To provide for the payment of principal of and interest on the Obligations, there is hereby levied, within the limits prescribed by law, for the current year and each succeeding year thereafter, while the Obligations or any part of the principal thereof and the interest thereon remain outstanding and unpaid, an ad valorem tax upon all taxable property within the City 9 HOU:2516661.4