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<br />Section 3. Registration as to Principal and Interest. <br />Each of the bonds of this issue ~ay be registered for payment <br />as to both principal and interest (but not as to principal onlv <br />or to interest only) and any bond so registered may be discharged <br />fro~ registration as hereafter provided in this Ordinance. At the <br />option of the bearer, any bond of this issue may be registered as <br />to both principal and interest upon presenting the same to the <br />Treasurer of the City, (designated as and referred to herein as <br />the Registrar for purposes of registration) accompanied by all <br />unmatured coupons. The Registrar shall make a notation of such <br />registration thereon and detach and cancel all unmatured interest <br />coupons. Any bonds so registered may thereafter be transfered <br />only upon a duly executed assignment of the registered ovmer or <br />his legal representative in such form as shall be satisfactory to <br />the Reg i s trar. Such trans fer shall be made on the reg i s tra tion <br />books kept by the Registrar and shall be endorsed on the bond. <br />The principal of and interest on any bond registered as to both <br />principal and interest shall be payable only to, or upon the order <br />of, the registered owner or his legal representative. <br />Section 4. Conversion of Reg istered Bonds. Any bond <br />registered as to both principal and interest may be reconverted <br />into a coupon bond payable to bearer upon presentation thereof to <br />the Registrar accompanied by an instrument duly executed by the <br />registered owner or his legal representative, ln such form as is <br />acceptable to the Reg i s t.rar. The Reg is t.ra r shall attach there to <br />new coupons representing the interest to become due thereafter on <br />the bond to the date of maturity and shall make notation thereon <br />that the bond is payable to bearer. Such new coupons shall bear <br />the facsimile signature of the officer signing the coupons as <br />herein provided at the time of the execution of the bond, 1.12., <br />the Treasurer of the City. Upon reconverting the bO:lds ln <br />accordance with th is OnH nance, the Reg i s trb.c shall requ ire the <br />payme nt of all 12 xpenses incu rred by it ln connect ion with such <br />reconversion, payment of which together with any tax or other <br />governmental charge required to be paid, shall be made DV the <br />holder requesting such reconversion. <br /> <br />- 5 - <br />