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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 canceled 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 /> (i) Authenticating Agent. The Registrar is hereby designated <br /> authenticating agent for the Bonds, within the meaning of Minnesota <br /> Statutes, Section 475.55, Subdivision 1. <br /> 3.04. Appointment of Initial Registrar. The City hereby appoints <br /> American Bank National Association in St. Paul, Minnesota, as the initial Registrar. <br /> The Mayor and City Manager are authorized to execute and deliver, on behalf of the <br /> City, a contract with American Bank National Association, as Registrar. Upon <br /> merger or consolidation of the Registrar with another corporation, if the resulting <br /> corporation is a bank or trust company authorized by law to conduct such business, <br /> such corporation shall be authorized to act as successor Registrar. The City agrees to <br /> pay the reasonable and customary charges of the Registrar for the services <br /> performed. The City reserves the right to remove any Registrar upon thirty (30) <br /> days' notice and upon the appointment of a successor Registrar, in which event the <br /> predecessor Registrar shall deliver all cash and Bonds in its possession to the <br /> successor Registrar. On or before each principal or interest due date, without further <br /> order of this Council, the Finance Director shall transmit to the Registrar from the <br /> Series 1996A General Obligation Taxable Tax Increment Bond Sinking Fund <br /> described in Section 4 hereof, moneys sufficient for the payment of all principal and <br /> interest then due. <br /> 3.05. Redemption. Bonds maturing in the years 2000 through 2006 <br /> shall not be subject to redemption prior to maturity, but Bonds maturing in the <br /> years 2007 through 2013 shall each be subject to redemption and prepayment, at the <br /> option of the City, in whole or in part, and if in part, in the maturities selected by the <br /> City and, within any maturity, in $5,000 principal amounts selected by the Registrar <br /> by lot, on February 1, 2006 and on any date thereafter at a price equal to the principal <br /> -10- <br />