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Registrar shall insert in the certificate of authentication the date as of which such Bonds are • authenticated as follows: (i) if the Bond is authenticated prior to the first interest payment date, the certificate shall be dated as of the date of the initial issuance and delivery of the Bonds of the series of which such Bond is one, (ii) if the Bond is authenticated upon an interest payment date, the certificate shall be dated as of such interest payment date, (iii) if the Bond is authenticated after the fifteenth (15th) day of the calendar month next preceding an interest payment date and prior to such following interest payment date, the certificate shall be dated as of such following interest payment date and (iv) in all other instances the certificate shall be dated as of the actual date upon which the Bond is authenticated by the Registrar. (c) The execution and authentication of the Bonds in the manner above set forth is adopted as a due and sufficient authentication of the Bonds. 4. (a) The principal of and interest on the Bonds shall be payable in such coin or currency of the United States of America as at the respective dates of payment thereof is legal tender for public and private debts. (b) Principal of the Bonds of a given series shall be payable upon presentation and surrender thereof at the office of the Registrar. (c) Interest on the Bonds shall be payable by check mailed by the Registrar to the registered owners of such Bonds at their respective addresses as such addresses appear on the books of registry kept pursuant to the provisions of this Paragraph 4; provided however, that so long as the Bonds are in book -entry form and registered in the name of Cede & Co., as nominee • of DTC, or in the name of such other nominee of DTC as may be requested by an authorized representative of DTC, interest on the Bonds shall be paid directly to Cede & Co. or such other nominee of DTC by wire transfer. (d) At all times during which any Bond of any series remains outstanding and unpaid, the Registrar shall keep or cause to be kept, at its office, books of registry for the registration, exchange and transfer of Bonds of such series. Upon presentation of a Bond or Bonds at the office of the Registrar, the Registrar, under such reasonable regulations as the Registrar may prescribe, shall register, exchange or transfer, or cause to be registered, exchanged or transferred, such Bond or Bonds on the books of registry as hereinbefore set forth. (e) The books of registry shall at all times be open for inspection by the City or any duly authorized officer thereof. (f) 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. (g) 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. • -5- 541260.3 030911 RES