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Authentication so executed on each Certificate shall be conclusive evidence that it has been <br />authenticated and delivered under this resolution. <br />10. Registration: Transfer: Exchange. The City will cause to be kept at the principal <br />office of the Registrar a certificate register in which, subject to such reasonable regulations as the <br />Registrar may prescribe, the Registrar shall provide for the registration of Certificates and the <br />registration of transfers of Certificates entitled to be registered or transferred as herein provided. <br />Upon surrender for transfer of any Certificate at the principal office of the Registrar, the <br />City shall execute (if necessary), and the Registrar shall authenticate, insert the date of <br />registration (as provided in paragraph 9) of, and deliver, in the name of the designated transferee <br />or transferees, one or more new Certificates of any Authorized Denomination or Denominations <br />of a like aggregate principal amount, having the same stated maturity and interest rate, as <br />requested by the transferor; provided, however, that no Certificate may be registered in blank or <br />in the name of "bearer" or similar designation. <br />At the option of the Holder, Certificates may be exchanged for Certificates of any <br />Authorized Denomination or Denominations of a like aggregate principal amount and stated <br />maturity, upon surrender of the Certificates to be exchanged at the principal office of the <br />Registrar. Whenever any Certificates are so surrendered for exchange, the City shall execute (if <br />necessary), and the Registrar shall authenticate, insert the date of registration of, and deliver the <br />Certificates which the Holder making the exchange is entitled to receive. <br />All Certificates surrendered upon any exchange or transfer provided for in this resolution <br />shall be promptly canceled by the Registrar and thereafter disposed of as directed by the City. <br />All Certificates delivered in exchange for or upon transfer of Certificates shall be valid <br />general obligations of the City evidencing the same debt, and entitled to the same benefits under <br />this resolution, as the Certificates surrendered for such exchange or transfer. <br />Every Certificate presented or surrendered for transfer or exchange shall be duly <br />endorsed or be accompanied by a written instrument of transfer, in form satisfactory to the <br />Registrar, duly executed by the Holder thereof or the Holder's attorney duly authorized in <br />writing. <br />The Registrar may require payment of a sum sufficient to cover any tax or other <br />governmental charge payable in connection with the transfer or exchange of any Certificate and <br />any legal or unusual costs regarding transfers and lost Certificates. <br />Transfers shall also be subject to reasonable regulations of the City contained in any <br />agreement with the Registrar, including regulations which permit the Registrar to close its <br />transfer books between record dates and payment dates. The Clerk -Treasurer is hereby <br />authorized to negotiate and execute the terms of said agreement. <br />11. Rights Upon Transfer or Exchange. Each Certificate delivered upon transfer of or <br />in exchange for or in lieu of any other Certificate shall carry all the rights to interest accrued and <br />unpaid, and to accrue, which were carried by such other Certificate. <br />12. Interest Payment: Record Date. Interest on any Certificate shall be paid on each <br />Interest Payment Date by check or draft mailed to the person in whose name the Certificate is <br />10 <br />15so6a7vi <br />