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• <br /> • <br /> 1 Section 4 . The Bonds shall be issued only in registered <br /> 2 form as to both principal and interest on books or records <br /> 3 maintained by the Bond Registrar ( the "Bond Register" ) . The <br /> 4 Bond Register shall contain the name and mailing address of the <br /> 5 owner of each Bond and the principal amount and number of each <br /> 6 of the Bonds held by each owner . <br /> 7 Bonds may be transferred only if endorsed in the manner <br /> 8 provided thereon and surrendered to the Bond Registrar . The <br /> 9 transfer of a Bond shall be by the Bond Registrar ' s receiving <br /> 10 the Bond to be transferred, cancelling it and issuing a new <br /> 11 certificate in the form of the Bonds to the transferee after <br /> 12 registering the name and address of the transferee on the Bond <br /> 13 Register . The new certificate shall bear the same Bond number <br /> 14 as the transferred Bond but may have a different inventory <br /> 15 reference number or control number . Any exchange or transfer <br /> 16 shall be without cost to the owner or transferee . The Bond <br /> 17 Registrar shall not be obligated to exchange or transfer any <br /> 18 Bond during the fifteen days preceding any principal payment or <br /> 19 redemption date. <br /> 20 Section 5 . Both principal of and interest on the Bonds <br /> 21 shall be payable solely out of the Bond Fund and from the Local <br /> 22 Improvement Guaranty Fund of the City, and shall be payable in <br /> 23 lawful money of the United States of America . Interest on the <br /> 24 Bonds shall be paid by checks or drafts mailed on the interest <br /> 25 payment date to the registered owners at the addresses appearing <br /> - 4 - <br />