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8. The City Clerk - Treasurer shall act as bond regis- <br />trar and shall maintain a complete record of ownership of the <br />Certificates. The City makes no representation that it is expe- <br />rienced in the transfer of ownership of registered securities or <br />that it is aware of or experienced in applicable SEC regulations <br />regarding such transfers. The Purchaser and any assignee of the <br />Certificates shall take the Certificates subject to this condi- <br />tion. <br />Adopted by the City Council this _24th_ day of <br />April , 1989. <br />City Clerk <br />)44-S--(11.,262) <br />1 <br />