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Bond Registrar shall authenticate in the name of the transferee or transferees a new Bond or <br /> Bonds of any authorized denomination in an aggregate principal amount equal to the Bond <br /> surrendered and of the same form and maturity and beating interest at the same rate as the Bond <br /> surrendered, subject in each case to such reasonable regulations as the City and the Bond <br /> Registrar may prescribe. All Bonds presented for transfer or exchange shall be accompanied by <br /> a written instrument or instruments of transfer or authorization for exchange, in form and <br /> substance reasonably satisfactory ro the City and the Bond Registrar, duly executed by the <br /> registered owner or by his or her duly author/zed attorney-in-fact or legal representative. No <br /> Bond may be registered to bearer. <br /> <br /> New Bonds delivered upon any transfer or exchange shall be valid obligations of the <br /> City, evidencing the same debt as the Bonds surrendered, shall be secured by this Resolution and <br /> entitled to ali of the security and benefits hereof to the same extem as the Bonds surrendered. <br /> <br /> 10 Chames for Exchange or Transfer. No charge shall be made for any exchange or <br /> transfer of Bonds, but the City may require payment by the registered owner of any Bond of a <br /> sum sufficient to cover any tax or other governmental charge which may be imposed with <br /> respect to the transfer or exchange of such Bond. <br /> <br /> 11. Non-Arbitra~e Certificate and Tax Covenants. The City Manager and the Chief <br />Financial Officer. or either of them, are authorized and directed ro execute a Non-Arbitrage <br />Certificate and Tax Covenants setting forth the expected use and invesrmem of the proceeds of <br />the Bonds and comainmg such covenants as may be necessa~ in order to comply with the <br />provisions of the Code, including the provisions of Section 148 of the Code and applicable <br />regulations relating to "arbitrage bonds." The City Council covenants on behalf of the City that <br />all of such proceeds will be invested and expended as set forth in the City's Non-Arbitrage <br /> <br /> <br />