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represent more than one maturity; shall be numbered separately in such manner and with any <br /> additional designation as the Bond Registrar deems necessary for purposes of identification; and <br /> shall bear interest from their date at the following per annum rates, payable on June 1, 2003, and <br /> semiannually thereafter on the first days of each December and June and shall mature on <br /> December 1 in the years and principal amounts set forth and approved in the Bond Purchase <br /> Contract executed by the Finance Director pursuant to Section 13 of this ordinance. <br /> Section 4. Registration,Exchange and Payments. <br /> (a) Bond Registrar/Bond Register. The City hereby specifies and adopts the <br /> system of registration approved by the Washington State Finance Committee from time to time <br /> through the appointment of state fiscal agencies. The City shall cause a bond register to be <br /> maintained by the Bond Registrar. So long as any Bonds remain outstanding, the Bond Registrar <br /> shall make all necessary provisions to permit the exchange or registration or transfer of Bonds at <br /> its principal corporate trust office. The Bond Registrar may be removed at any time at the option <br /> of the City upon prior notice to the Bond Registrar and a successor Bond Registrar appointed by <br /> the City. No resignation or removal of the Bond Registrar shall be effective until a successor <br /> shall have been appointed and until the successor Bond Registrar shall have accepted the duties <br /> of the Bond Registrar hereunder. The Bond Registrar is authorized, on behalf of the City, to <br /> authenticate and deliver Bonds transferred or exchanged in accordance with the provisions of <br /> such Bonds and this ordinance and to carry out all of the Bond Registrar's powers and duties <br /> under this ordinance. The Bond Registrar shall be responsible for its representations contained in <br /> the Certificate of Authentication of the Bonds. <br /> (b) Registered Ownership. The City and the Bond Registrar, each in its <br /> discretion, may deem and treat the Registered Owner of each Bond as the absolute owner thereof <br /> -10- P:\CMW\CMW5IL 12/06/02 <br />