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exchange, transfer, <br />or transferred, on <br />herein set forth. <br /> <br />or cause to be registered, exchanged <br />the books of registry the Bonds as <br /> <br /> The books of registry shall at all times be open <br />for inspection by the City or any duly authorized <br />officer thereof. <br /> <br /> Any Bond may be exchanged at the principal office <br />of the Registrar for a like aggregate p~inclpal amount <br />of such Bonds in other authorized principal amounts of <br />the same interest rate and maturity. <br /> <br /> Any Bond may, in accordance with its te~ms, be <br />transferred upon the book of registry by the person in <br />whose name it is registered, in @erson or by his duly <br />authorized agent, upon surrender of such Bond to the <br />Registrar for cancellation, accompanied by a written <br />instrument of transfer duly executed by the registered <br />holder in person ow his duly authorized agent, in form <br />satisfactory to the Registrar'. <br /> <br /> Ail transfers or exchanges of Bonds shall be made <br />without expense to the holder of such Bonds, except as <br />otherwise herein provided, and except that the Registrar <br />shall require the payment by the holder of the Bond <br />requesting such t~ansfer or exchange of any tax or othe~ <br />governmental charges required to be paid with respect to <br />such transfer or exchange. All Bonds surrendered for <br />transfer or exchange shall be cancelled. <br /> <br /> 3. The full faith and credit of the City shall be <br />and hereby is irrevocably pledged to the payment of the <br />principal of and interest on the Bonds as the same <br />become due. In each year while the Bonds, or any of <br />them, are outstanding and unpaid, there shall be <br />assessed, levied and collected, at the same time and in <br />the same manner as other taxes in the City are assessed, <br />levied and collected,.upon all property within the City <br />subject to taxation by the City, a tax sufficient to <br />provide for the payment of the principal of and interest <br />on the Bonds as the same become due. <br /> <br /> 4. The proceeds of the sale of the Bonds shall be <br />applied to the payment of the costs of the following <br />public improvement projects in substantially the <br />following respective amounts: <br /> <br />-4- <br /> <br /> <br />