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3 <br /> forth in the Approved Bid; and shall mature on the dates and in the principal amounts set forth in <br /> the Approved Bid and as approved by the Chief Financial Officer pursuant to Section 15. The <br /> Bonds of any of the maturities may be combined and issued as term bonds, subject to mandatory <br /> redemption as provided in the Notice of Sale for the Bonds and the Approved Bid. <br /> The Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and <br /> secured as provided herein. The Bonds shall not be general obligations of the City. <br /> Section 4. Registration, Exchange and Payments. <br /> (a) Registrar/Bond Register. The City hereby specifies-and adopts the system of <br /> registration approved by the Washington State Finance Committee from time to time through the <br /> appointment of state fiscal agencies. The City shall cause a bond register to be maintained by the <br /> Registrar. So long as any Bonds remain outstanding, the Registrar shall make all necessary <br /> provisions to permit the exchange or registration or transfer of Bonds at its principal corporate <br /> trust office. The Registrar may be removed at any time at the option of the Designated <br /> Representative upon prior notice to the Registrar and a successor Registrar appointed by the <br /> Designated Representative. No resignation or removal of the Registrar shall be effective until a <br /> successor shall have been appointed and until the successor Registrar shall have accepted the <br /> duties of the Registrar hereunder. The 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 Registrar's powers and duties under this <br /> ordinance. The Registrar shall be responsible for its representations contained in the Certificate <br /> of Authentication of the Bonds. <br /> (b) Registered Ownership. The City and the Registrar, each in its discretion, may <br /> deem and treat the Registered Owner of each Bond as the absolute owner thereof for all purposes <br /> (except as provided in Section 17 of this ordinance), and neither the City nor the Registrar shall <br /> -21- P:120287 CM\M20287 9RC 01/02/13 <br /> 28 - - <br />