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be includable in the gross income of Registered Owners for federal income tax purposes, on or <br /> before the commencement date of the Fixed Rate Period; and <br /> (5) On or before the Fixed Rate Conversion Date, the City delivers to the <br /> Bond Registrar and the Remarketing Agent an Opinion of Counsel to the effect that such <br /> determination of the Fixed Rate will not, in and of itself, cause the interest on the Bonds to be <br /> includable in the gross income of Registered Owners for federal income tax purposes.. <br /> Section 2.05. Registration, Exchange and Payments. <br /> (a) Bond Registrar/Bond Register. The Designated Representative may specify and <br /> adopt the system of registration approved by the Washington State Finance Committee from time <br /> to time through the appointment of state fiscal agencies or in the alternative may appoint another <br /> fiscal agent as provided in RCW 39.46.030. The City shall cause the 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 corporate trust office. The Bond Registrar may be removed at any time at the option of the <br /> Chief Financial Officer upon prior notice to the Bond Registrar and a successor Bond Registrar <br /> appointed by the Chief Financial Officer. No resignation or removal of the Bond Registrar shall <br /> be effective until a successor shall have been appointed and until the successor Bond Registrar <br /> shall have accepted the duties of the Bond Registrar hereunder. The Bond Registrar is <br /> authorized, on behalf of the City, to authenticate and deliver Bonds transferred or exchanged in <br /> accordance with the provisions of such Bonds and this ordinance and to carry out all of the Bond <br /> Registrar's powers and duties under this ordinance. The Bond Registrar shall be responsible for <br /> its representations contained in the Certificate of Authentication of the Bonds. If the Bond <br /> Registrar renders any service hereunder not provided for in this ordinance, or the Bond Registrar <br /> -43- P 120287 CMW120287 AMT 10/14/14 <br />