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(b) Transfer of Bonds. Upon surrender to the Registrar for transfer of any Bond <br />duly endorsed by the registered owner thereof or accompanied by a written instrument of <br />transfer, in form satisfactory to the Registrar, duly executed by the registered owner <br />thereof or by an attorney duly authorized by the registered owner in writing, the Registrar <br />shall authenticate and deliver, in the name of the designated transferee or transferees, one <br />or more new Bonds of a like aggregate principal amount and maturity, as requested by <br />the transferor. The Registrar may, however, close the books for registration of any <br />transfer after the fifteenth day of the month preceding each interest payment date and <br />until such interest payment date. <br />(c) Exchange of Bonds. Whenever any Bond is surrendered by the registered <br />owner for exchange, the Registrar shall authenticate and deliver one or more new Bonds <br />of a like aggregate principal amount, interest rate and maturity, as requested by the <br />registered owner or the owner's attorney duly authorized in writing. <br />(d) Cancellation. All Bonds surrendered upon any transfer or exchange shall be <br />promptly cancelled by the Registrar and thereafter disposed of as directed by the City. <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. The Registrar shall incur no liability for <br />its refusal, in good faith, to make transfers which it, in its judgment, deems improper or <br />unauthorized. <br />(f) Persons Deemed Owners. The City and the Registrar may treat the person in <br />whose name any Bond is at any time registered in the bond register as the absolute owner <br />of such Bond, whether such Bond shall be overdue or not, for the purpose of receiving <br />payment of, or on account of, the principal of and interest on such Bond and for all other <br />purposes, and all such payments so made to any such registered owner or upon the <br />owner's order shall be valid and effectual to satisfy and discharge the liability of the City <br />upon such Bond to the extent of the sum or sums so paid. <br />(g) Taxes, Fees and Charges. For every transfer or exchange of Bonds (except <br />for an exchange upon a partial redemption of a Bond), the Registrar may impose a charge <br />upon the owner thereof sufficient to reimburse the Registrar for any tax, fee or other <br />governmental charge required to be paid with respect to such transfer or exchange. <br />(h) Mutilated, Lost, Stolen or Destroyed Bonds. In case any Bond shall become <br />mutilated or be lost, stolen or destroyed, the Registrar shall deliver a new Bond of like <br />amount, number, interest rate, maturity date and tenor in exchange and substitution for <br />and upon cancellation of any such mutilated Bond or in lieu of and in substitution for any <br />such Bond lost, stolen or destroyed, upon the payment of the reasonable expenses and <br />charges of the Registrar in connection therewith; and, in the case of a Bond lost, stolen or <br />destroyed, upon receipt by the Registrar of evidence satisfactory to it that such Bond was <br />