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<br />Treatment of Registered Owners. The City and Bond . <br />Registrar may treat the person in whose name this Bond is <br />registered as the owner hereof for the purpose of receiving <br />paYment as herein provided (except as otherwise provided on the <br />reverse side hereof with respect to the Record Date) and for all <br />other purposes, whether or not this Bond shall be overdue, and <br />neither the City nor the Bond Registrar shall be affected by <br />notice to the contrary. <br /> <br />Authentication. This Bond shall not be valid or become <br />obligatory for any purpose or be entitled to any security unless <br />the Certificate of Authentication hereon shall have been executed <br />by the Bond Registrar. <br /> <br />Designation of Bonds as Oualified Tax-Exemot <br />Obligations. The Bonds have been designated by the City as <br />"qualified tax-exempt obligations" for purposes of Section <br />265(b) (3) of the Internal Revenue Code of 1986, as amended. <br /> <br />. <br /> <br />. <br /> <br />1079939.1 <br /> <br />14 <br />