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• <br /> 1 Section 8 . The Bond Registrar shall keep, or cause to be <br /> 2 kept , at its principal corporate trust office, sufficient books <br /> 3 for the registration and transfer of the Bonds which shall be <br /> 4 open to inspection by the City at all times . The Bond Registrar <br /> 5 is authorized, on behalf of the City, to authenticate and <br /> 6 deliver Bonds transferred or exchanged in accordance with the <br /> 7 provisions of the Bonds and this ordinance, to serve as the <br /> 8 City' s paying agent for the Bonds and to carry out all of the <br /> 9 Bond Registrar ' s powers and duties under this ordinance and City <br /> 10 Ordinance No . 980-83 establishing a system of registration for <br /> 11 the City' s bonds and obligations . <br /> 12 The Bond Registrar shall be responsible for its <br /> 13 representations contained in the Bond Registrar ' s Certificate of <br /> 14 Authentication on the Bonds . The Bond Registrar may become the <br /> 15 owner of Bonds with the same rights it would have if it were not <br /> 16 the Bond Registrar and, to the extent permitted by law, may act <br /> 17 as depository for and permit any of its officers or directors to <br /> 18 act as members of , or in any other capacity with respect to, any <br /> 19 committee formed to protect the rights of Bond owners . <br /> 20 Section 9 . The Bonds shall be negotiable instruments to <br /> 21 the extent provided by RCW 62A. 8-102 and 62A. 8-105 . <br /> 22 Section 14. The City covenants that it will take all <br /> 23 actions necessary to prevent interest on the Bonds from being <br /> 24 included in gross income for federal income tax purposes , and it <br /> 25 will neither take any action nor make or permit any use of <br /> - 8 - <br />