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(d) Cancellation. All Bonds sunendered upon any transfer or exchange shall be <br />promptly canceled by the Registraz and thereafter disposed of as directed by the Issuer. <br />(e) Improper or Unauthorized Transfer. When any Bond is presented to the <br />Registrar for transfer, the Registrar may refuse to transfer the same until it is satisfied that <br />the endorsement on such Bond or separate instrument of transfer is valid and genuine and <br />that the requested transfer is legally authorized. 'Ihe Registrar shall incur no liability for the <br />refusal, in good faith, to make transfers which it, in its judgment, deems improper or <br />unauthorized. <br />(f) Persons Deemed Owners. The Issuer and the Registrar may treat the person <br />in whose name any Bond is at any time registered in the bond register as the absolute owner <br />of the Bond, whether the Bond shall be overdue or not, for the purpose of receiving <br />payment of or on account of, the principal of and interest on the Bond and for all other <br />purposes; and all payments made to any registered owner or upon the owner's order shall be <br />valid and effectual to satisfy and discharge the liability upon the Bond to the extent of the <br />sum or sutras so paid <br />(g) Taxes. Fees and Chazges. For every transfer or exchange of Bonds the <br />Registraz may impose a charge upon the owner thereof sufficient to reimburse the Registrar <br />for any tax, fee or other governmental charge required to be paid with respect to such <br />transfer or exchange. <br />(h) Mutilated. Lost. Stolen or Destrovcd Bonds. In case any Bond shall become <br />• mutilated or be destroyed, stolen or lost, the Registraz shall deliver a new Bond of like <br />amount, number, maturity date and tenor in exchange aad substitution for and upon <br />cancellation of any such mutilated Bond or in lieu of and in substitution for any Bond <br />destroyed, stolen or Lost, upon the payment of the reasonable expenses and charges of the <br />Registrar in connection therewith; and, in the case of a Bond destroyed, stolen or lost, upon <br />filing with the Registraz of evidence satisfactory to it that the Bond was destroyed, stolen or <br />lost, and of the ownership thereof, aad upon fiunishing to the Registraz of an appropriate <br />bond or indemnity inform, substance and amount satisfactory to it, in which both the Issuer <br />and the Registrar shall be named as obligees. All Bonds so surrendered to the Registrar <br />shall be canceled by it and evidence of such cancellation shall be given to the Issuer. If the <br />mutilated, destroyed, stolen or lost Bond has already matured or been called for redemption <br />in accordance with its terms it shall not be necessary to issue a new Bond prior to payment. <br />(i} AuthenticatinQ,~ggnt. The Regishar is hereby designated authenticating <br />agent for the Bonds, within the meaaing of Minnesota Statutes, Section 475.55, Subdivision <br />1, as amended. <br />2.08. Execution, Authentication and Detiverv_, The Bonds shall be prepazed under the <br />direction of the City Administrator and shall be executed on behalf of the Issuer by the signatures of <br />the Mayor and the City Administrator, provided that the signatures may be printed, engraved or <br />lithographed facsimiles ofthe originals. In case any officer whose signature or a facsimile of whose <br />signature shall appear on the Bonds shall cease to be such officer before the delivery of any Bond, <br />such signature or facsimile shall nevertheless be valid and sufficient for all purposes, the same as if <br />• ~~sssa~.oi <br />5 <br />