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B-3 <br />623340v3SA730-2 <br />authorized by the registered owner in writing, the Registrar shall authenticate and deliver, in the <br />name of the designated transferee or transferees, a new Note of a like aggregate principal amount <br />and maturity, as requested by the transferor. The Registrar may close the books for registration of <br />any transfer after the fifteenth day of the month preceding each Payment Date and until such <br />Payment Date. <br /> <br /> (c) Cancellation. Any Note surrendered upon any transfer shall be promptly cancelled <br />by the Registrar and thereafter disposed of as directed by the Authority. <br /> <br /> (d) Improper or Unauthorized Transfer. When any Note is presented to the Registrar for <br />transfer, the Registrar may refuse to transfer the same until it is satisfied that the endorsement on <br />such Note or separate instrument of transfer is legally authorized. The Registrar shall incur no <br />liability for its refusal, in good faith, to make transfers which it, in its judgment, deems improper or <br />unauthorized. <br /> <br /> (e) Persons Deemed Owners. The Authority and the Registrar may treat the person in <br />whose name any Note is at any time registered in the bond register as the absolute owner of such <br />Note, whether the Note shall be overdue or not, for the purpose of receiving payment of, or on <br />account of, the principal of and interest on such Note and for all other purposes, and all such <br />payments so made to any such registered owner or upon the owner's order shall be valid and <br />effectual to satisfy and discharge the liability of the Authority upon such Note to the extent of the <br />sum or sums so paid. <br /> <br /> (f) Taxes, Fees and Charges. For every transfer or exchange of any Note, the Registrar <br />may impose a charge upon the owner thereof sufficient to reimburse the Registrar for any tax, fee, <br />or other governmental charge required to be paid with respect to such transfer or exchange. <br /> <br /> (g) Mutilated, Lost, Stolen or Destroyed Note. In case any Note shall become mutilated <br />or be lost, stolen, or destroyed, the Registrar shall deliver a new Note of like amount, maturity dates <br />and tenor in exchange and substitution for and upon cancellation of such mutilated Note or in lieu of <br />and in substitution for such Note lost, stolen, or destroyed, upon the payment of the reasonable <br />expenses and charges of the Registrar in connection therewith; and, in the case the Note lost, stolen, <br />or destroyed, upon filing with the Registrar of evidence satisfactory to it that such Note was lost, <br />stolen, or destroyed, and of the ownership thereof, and upon furnishing to the Registrar of an <br />appropriate bond or indemnity in form, substance, and amount satisfactory to it, in which both the <br />Authority and the Registrar shall be named as obligees. The Note so surrendered to the Registrar <br />shall be cancelled by it and evidence of such cancellation shall be given to the Authority. If the <br />mutilated, lost, stolen, or destroyed Note has already matured or been called for redemption in <br />accordance with its terms, it shall not be necessary to issue a new Note prior to payment. <br /> <br /> 3.04. Preparation and Delivery. The Notes shall be prepared under the direction of the <br />Finance Director of the City and shall be executed on behalf of the Authority by the signatures of its <br />President and Executive Director. In case any officer whose signature shall appear on any Note <br />shall cease to be such officer before the delivery of such Note, such signature shall nevertheless be <br />valid and sufficient for all purposes, the same as if such officer had remained in office until delivery.