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11 exchanged or transferred, such Bond or Bonds on the books of registry as hereinbefore set forth. The books of registry shall at all times be open for inspection by the City or any duly authorized officer thereof. Any Bond may be exchanged at the office of the Registrar for a like aggregate principal amount of such Bonds in other authorized principal sums and of the same series, interest rate and maturity. Any Bond of any series may, in accordance with its terms, be transferred upon the books of registry by the person in whose name it is registered, in person or by his duly authorized agent, upon surrender of such Bond to the Registrar for cancellation, accompanied by a written instrument of transfer duly executed by the registered owner or his duly authorized agent, in form satisfactory to the Registrar. All transfers or exchanges pursuant to this Section 4 shall be made without expense to the registered owner of such Bond or Bonds, except as otherwise herein provided, and except that the Registrar shall require the payment by the registered owner of such Bond or Bonds requesting such transfer or exchange of any tax or other governmental charges required to be paid with respect to such transfer or exchange. All Bonds surrendered for transfer or exchange pursuant to this Section 4 shall be cancelled. The full faith and credit of the City shall be and is irrevocably pledged to the punctual payment of the principal of and interest on the Bonds as the same become due. In each year while the Bonds, or any of them, are outstanding and unpaid, the Council is authorized and required to levy and collect annually, at the same time and in the same manner as other taxes of the City are assessed, levied and collected, a tax upon all taxable property within the City, over and above all other taxes, authorized or limited by law and without limitation as to rate or amount, sufficient to pay when due the principal of and interest on the Bonds to the extent other funds of the City are not lawfully available and appropriated for such purpose. CUSIP identification numbers may be printed on the Bonds, but no such number shall constitute a part of the contract evidenced by the particular Bonds upon which it is printed and no liability shall attach to the City or any officer or agent thereof (including any paying agent for the Bonds) by reason of such numbers or any use made thereof (including any use thereof made by the City, any such officer or any such agent) or by reason of any inaccuracy, error or omission with respect thereto or in such use. All expenses in relation to the printing of such numbers on the Bonds shall be paid by the City; provided, however, that the CUSIP Service Bureau charge for the assignment of such numbers shall be the responsibility of and shall be paid for by the purchaser of the Bonds. (9) The City covenants and agrees to comply with the provisions of Sections 103 and 141-150 of the Internal Revenue Code of 1986 and the Treasury Regulations promulgated under such Sections 103 and 141-150 throughout the term of the Bonds. The Bonds are hereby designated as “qualified tax-exempt obligations” for purposes of Section 265 of the Internal Revenue Code of 1986. The net proceeds of the sale of the Series 2009A Bonds shall be applied to the payment of the cost of the following public improvement projects of and for the City in substantially the following respective amounts: Projects Amounts Public Schools $ 500,000 Transportation and Access (Including Downtown Mall) Improvements 6,000,000 Parks and Recreation 8,500,000 Water System Improvements 1,500,000