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(. <br /> <br />deliver, in the name of the designated transferee or <br />transferees, one or more new bonds of any authorized <br />denomination or denominations of a like aggregate principal. <br />amount, having the same stated maturity and interest rate, as <br />requested by the transferor; provided, however, that no bond <br />shall be issued in the name of "bearer" or any similar <br />_ designation. <br />At the option of the holder, bonds may be exchanged <br />for bonds of any authorized denomination or denominations of a <br />like aggregate principal amount and stated maturity, upon <br />surrender of the bonds to be exchanged at the principal office <br />of the Bond Registrar, and upon payment, if the City shall so <br />require, of such charges. Whenever any bonds are so <br />surrendered for exchange, the City shall execute, and the Bond <br />Registrar shall authenticate, date (in the space designated <br />Date of Registration and Authentication) and deliver, the bonds <br />which the holder making the exchange is entitled to receive. <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 />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 />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 attorney <br />duly authorized in writing. <br />10. Each bond delivered upon transfer of or in <br />exchange for or in lieu of any other bond shall carry all the <br />rights to interest accrued and unpaid, and to accrue, which <br />were carried by such other bond. <br />11. Interest on any bond shall be paid <br />interest payment date by check or draft mailed to <br />whose name the bond is registered (the "Holder") <br />registration books of the City maintained by the <br />and at the address appearing thereon at the close <br />on each <br />the person in <br />on the <br />Bond Registrar <br />of business <br />• <br />