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<br />e
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<br />e
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<br />loss, theft, or destruction of a Bond, the registered owner applying tor a replacement bond shall furnish to the City
<br />and to the Paying AgentJRegistrar such securio/ or indemnity as may be required by them to save each of them
<br />hannless 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 AgentJRegistrar evidence to their satisfuction 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 AgentJRegistrar 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 shall have matured. and no default has occurred which is then continuing in the payment of the principal of,
<br />redemption premitun, 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) Charge for Issuin~ Replacement Bonds. Prior to the issuance of any replacement bond, the Paying
<br />AgentJRegistrar 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 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 tor Issuin& ReQlacement 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 />AgentJRegistrar shall authenticate and deliver ~uch Bonds in the form anc.l U!-anner ~d 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 l3. 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 />ip\ti\iUy i~sued ~d deliv~red hereunder and all necessary records and {lroceedings pe\laining to the Bonds pending
<br />their delivery and their investigation, examination, and approval by the Attorney General of the State of Texas, and
<br />their registration by We Comptroller of Public Accounts of the State of Texas. Upon registration of the Bonds said
<br />Comptroller of Public Accounts (or a deputy designated in writing to act for said Comptroller) shall manually sign
<br />th~ Comptroller'~ Registr\ition Certificat~ \ittached to such Bonds, ~Q. the s~al of said Comptroller shall be
<br />impressed, or placed in facsimile, on such Certificate. The approving legal opinion of Akin, Gump, Strauss, Hauer
<br />tJl feld, L.L,P., Bond Couns~l ~d the assigned CUSIP numbers mCl.y, at th~ option Of the City, be printed on the
<br />Bonds issued and delivered under this Ordinance, but neither shall have any legal effect, and shall be solely for the
<br />convenienct( anci ipformation of the registered owners of the Bonds.
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<br />Section 14. 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 and
<br />existing under the Constitution and laws of the State of Texas, and is duly authorized under the laws of the
<br />State of Texas to create and issue the Bonds; all action on its part for the creation and issuance of the Bonds
<br />has been duly and effectively taken; and the Bonds in the hands of the Owners thereof are and will be valid
<br />and enforceable obligations of the Cio/ in accordance with their terms; 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 reeresents that, while the Bonds are outstanding and
<br />unpaid, it will:
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<br />Q6393.9 .000 I AUSTIN 2.8034.8
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