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<br />which the Holder making the exchange is entitled to receive. <br />Global Certificates may not be exchanged for Global <br />Certificates of smaller denominations. <br /> <br />All Bonds surrendered upon any exchange or transfer <br />provided for in this resolution shall be promptly cancelled by <br />the Bond Registrar and thereafter disposed of as directed by <br />the City. <br /> <br />All Bonds delivered in exchange for or upon transfer <br />of Bonds shall be valid general obligations of the City <br />evidencing the same debt, and entitled to the same benefits <br />under this resolution, as the Bonds surrendered for such <br />exchange or transfer. <br /> <br />Every Bond presented or surrendered for transfer or <br />exchange shall be duly endorsed or be accompanied by a written <br />instrument of transfer, in form satisfactory to the Bond <br />Registrar, duly executed by the holder thereof or his, her or <br />its attorney duly authorized in writing. <br /> <br />The Bond Registrar may require payment of a sum <br />sufficient to cover any tax or other governmental charge <br />payable in connection with the transfer or exchange of any <br />Bond and any legal or unusual costs regarding transfers and <br />lost Bonds. <br /> <br />Transfers shall also be subject to reasonable <br />regulations of the City contained in any agreement with the <br />Bond Registrar, including regulations which permit the Bond <br />Registrar to close its transfer books between record dates and <br />payment dates. <br /> <br />13. Rights Upon Transfer or Exchange. Each Bond <br />delivered upon transfer of or in exchange for or in lieu of <br />any other Bond shall carryall the rights to interest accrued <br />and unpaid, and to accrue, which were carried by such other <br />Bond. <br /> <br />14. Interest Payment; Record Date. Interest on any <br />Global Certificate shall be paid as provided in the first <br />paragraph thereof, and interst on any Replacement Bond shall <br />be paid on each Interest Payment Date by check or draft mailed <br />to the person in whose name the Bond is registered (the <br />"Holder") on the registration books of the City maintained by <br />the Bond Registrar and at the address appearing thereon at the <br />close of business on the fifteenth (l5th) day of the calendar <br />month next preceding such Interest Payment Date (the "Regular <br /> <br />33 <br />