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initial date of delivery; shall be fully registered as to both principal and interest; shall be in the <br /> denomination of $5,000 each, or any integral multiple thereof, provided that no Bond shall <br /> 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, payable on December 1, 2012, and semiannually thereafter on <br /> the first days of each June and December at rates set forth in the Approved Bid, and shall mature <br /> on December 1 in the years and principal amounts set forth in the Approved Bid and as approved <br /> by the Chief Financial Officer pursuant to Section 11 of this ordinance. The Bonds of any of the <br /> maturities may be combined and issued as term bonds, subject to mandatory redemption as <br /> provided in the Notice of Sale for the Bonds and the Approved Bid. <br /> Section 3. Registration, Exchange and Payments. <br /> (a) Bond Registrar/Bond Register. The City hereby specifies and adopts the system <br /> of registration approved by the Washington State Finance Committee from time to time through <br /> the appointment of state fiscal agencies. The City shall cause a bond register to be maintained by <br /> the Bond Registrar. So long as any Bonds remain outstanding, the Bond Registrar shall make all _ <br /> necessary provisions to permit the exchange or registration or transfer of Bonds at its principal <br /> corporate trust office. The Bond Registrar may be removed at any time at the option of the Chief <br /> 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 /> -7-- P:\20287 CM1M20287 9RD 08/14/12 <br />