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(h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond shall <br /> • become mutilated or be lost, stolen or destroyed, the Registrar shall deliver a <br /> new Bond of like amount, number, maturity date and tenor in exchange and <br /> substitution for and upon cancellation of any such mutilated Bond or in lieu <br /> of and in substitution for any such Bond lost, stolen or destroyed, upon the <br /> payment of the reasonable expenses and charges of the Registrar in <br /> connection therewith; and, in the case of a Bond lost, stolen or destroyed, <br /> upon filing with the Registrar of evidence satisfactory to it that such Bond <br /> was lost, stolen or destroyed, and of the ownership thereof, and upon <br /> furnishing to the Registrar of an appropriate bond or indemnity in form, <br /> substance and amount satisfactory to it, in which both the City and the <br /> Registrar shall be named as obligees. All Bonds so surrendered to the <br /> Registrar shall be cancelled by it and evidence of such cancellation shall be <br /> given to the City. If the mutilated, lost, stolen or destroyed Bond has already <br /> matured or been called for redemption in accordance with its terms, it shall <br /> not be necessary to issue a new Bond prior to payment. <br /> 3.04. Appointment of Initial Registrar. The City hereby appoints <br /> American National Bank and Trust Cou any , in St. Paul , Minnesota <br /> as the initial bond registrar, transfer agent and paying agent (the Registrar). The <br /> Mayor and the City Manager are authorized to execute and deliver, on behalf of the <br /> City, a contract with the Registrar. Upon merger or consolidation of the Registrar <br /> with another corporation, if the resulting corporation is a bank or trust company <br /> • authorized by law to conduct such business, such corporation shall be authorized to <br /> act as successor Registrar. The City agrees to pay the reasonable and customary <br /> charges of the Registrar for the services performed. The City reserves the right to <br /> remove the Registrar upon thirty days' notice and upon the appointment of a <br /> successor Registrar, in which event the predecessor Registrar shall deliver all cash <br /> and Bonds in its possession to the successor Registrar and shall deliver the bond <br /> register to the successor Registrar. <br /> 3.05. Redeml2tion. The Bonds shall not be subject to redemption prior <br /> to maturity. <br /> 3.06. Preparation and Delivery. The Bonds shall be prepared under the <br /> direction of the City Finance Director and shall be executed on behalf of the City by <br /> the signatures of the Mayor and the City Manager. In case any officer whose <br /> signature shall appear on the Bonds shall cease to be such officer before the delivery <br /> of any Bond, such signature shall nevertheless be valid and sufficient for all <br /> purposes, the same as if such officer had remained in office until delivery. <br /> Notwithstanding such execution, no Bond shall be valid or obligatory for any <br /> purpose or entitled to any security or benefit under this resolution unless and until <br /> a certificate of authentication on such Bond has been duly executed by the manual <br /> signature of an authorized representative of the Registrar. Certificates of <br /> • -10- <br />