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wntten instrument or instruments of transfer or authorization for exchange, in form and substance reasonably satisfactory to the Bond Registrar, duly executed by the registered owner or by his or her duly authorized attorney-in-fact or legal representative. No Bond maybe registered to bearer. 13. That new Bonds delivered upon any transfer or exchange shall be valid obligations of the City, evidencing the same debt as the Bonds surrendered, shall be secured by this resolution and entitled to all of the security and benefits hereof and thereof to the same extent as the Bonds surrendered. 14. That no charge shall be made for any exchange or transfer of Bonds, but the Bond Registrar may require payment by the person requesting the exchange or transfer of a sum sufficient to cover any tax or other governmental charge which may be imposed with respect to the exchange or transfer of such Bonds. 15. That the City Manager, Chief Financial Officer, and such other officers and agents of the City as the City Manager or Chief Financial Officer may designate, are authorized and directed to take further action as they deem necessary or appropriate regarding the issuance, credit enhancement and sale of the Bonds, including the preparation, execution and delivery of instruments, agreements and documents related to the issuance and sale of any series of the Bonds, the purchase of municipal bond insurance or other credit enhancement for any series of the Bonds if market or other conditions so warrant, the establishment, funding and investment of any construction, project or sinking funds to be established with respect to any series of the Bonds, and the acquisition of forward purchase or supply arrangements relating the investment of the proceeds of any series of the Bonds. All actions taken by officers and agents of the City in connection with the issuance and sale of the Bonds are hereby ratified and confirmed. The authorizations granted in this ordinance to the City Manager and Chief Financial Officer may be carried out by any Deputy or Assistant City Manager, as appropriate, in the absence of the primary officers. 16. That the City Attorney of the City is authorized and directed to file a certified copy of this resolution with the Circuit Court of the City pursuant to Sections 15.2-2607 and 15.2-2627 of the Virginia Code. 17. That the Council hereby elects pursuant to Section 15.2-2601 of the Virginia Code to issue the Bonds under the Public Finance Act of 1991, Chapter 26, Title 15.2 of the Virginia Code without regard to the requirements, restrictions or other provisions contained in the Charter of the City. BE IT FURTHER RESOLVED by the Council of the City of Portsmouth, Virginia that this resolution shall take effect immediately upon the date of its adoption. ADOPTED by the Council of the City of Portsmouth, Virginia, at a meeting held on August 23, 2016. Teste: City Clerk