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<br />surrender of this bond together with a duly executed written instrument of transfer <br />satisfactory to the Registrar. Upon such transfer a new fully registered bond of authorized <br />denomination or denominations of the same aggregate principal amount and maturity will be <br />issued to the transferee in exchange for this bond, subject to such terms, conditions and <br />charges as set forth in the Bond Ordinance. * The City and the Registrar may deem and <br />treat the person in whose name this bond is registered as the absolute owner hereof for the <br />purpose of making payment and for all other purposes. <br />*The Registrar will not be required to transfer or exchange (i) any bond <br />subject to redemption during a period beginning at the opening of business 15 days before <br />the day of the mailing by the Registrar of a notice of prior redemption of bonds and ending <br />at the close of business on the day of such mailing, or (ii) any bond after the mailing of <br />notice calling such bond or any portion thereof for prior redemption, except for the <br />unredeemed portion of bonds being redeemed in part. * <br />The bonds of which this bond is one are all of like date, tenor, and effect <br />except as to number, principal amount, interest rate, and date of maturity, and are issued by <br />the City Council of the City of Louisville, in the County of Boulder and State of Colorado, <br />for the purpose of financing the acquisition of a municipal golf course and related equipment <br />under the authority of and in full conformity with the constitution and laws of the State of <br />Colorado, and pursuant to the Bond Ordinance. <br />The City, the Paying Agent, and the Registrar may deem and treat the <br />registered owner of any bond as the absolute owner thereof for all purposes (whether or not <br />such bond shall be overdue) and any notice to the contrary shall not be binding upon the <br />City, the Paying Agent, or the Registrar. <br />It is hereby certified, recited and warranted that all the requirements of law <br />have been complied with by the proper officers of the City in the issuance of this bond; that <br />the total indebtedness of the City, including that of this bond, does not exceed any limit of <br />indebtedness prescribed by the Constitution or laws of the State of Colorado; and that <br />provision has been made for the levy and collection of annual taxes sufficient to pay the <br />interest on and the principal of this bond when the same become due. <br /> <br />-14- <br />