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20 <br /> authorized by this resolution, in an aggregate principal amount <br /> equal to the unredeemed principal amount of such Bond so <br /> surrendered, of the same maturity and bearing interest at the same <br /> rate. <br /> In all cases in which Bonds shall be exchanged or the transfer <br /> of Bonds shall be registered hereunder, the Bond Registrar shall <br /> authenticate and deliver at the earliest practicable time Bonds in <br /> accordance with the provisions of this resolution. All Bonds <br /> surrendered in any such exchange or registration of transfer shall <br /> forthwith be cancelled by the Bond Registrar. The Issuer or the <br /> Bond Registrar may make a charge for shipping and out-of-pocket <br /> costs for every such exchange or registration of transfer of Bonds <br /> sufficient to reimburse it for any tax or other governmental charge <br /> required to be paid with respect to such exchange or registration <br /> of transfer, but no other charge shall be made by the Issuer or the <br /> Bond Registrar for exchanging or registering the transfer of Bonds <br /> under this resolution. The Bond Registrar shall not be required to <br /> exchange or register the transfer of any Bond during a period <br /> beginning at the opening of business fifteen (15) days before the <br /> day of the mailing of a notice of redemption of Bonds or any <br /> portion thereof and ending at the close of business on the day of <br /> such mailing or of any Bond called for redemption in whole or in <br /> part pursuant to Section 4 of this resolution. <br /> As to any Bond, the person in whose name the same shall be <br /> registered shall be deemed and regarded as the absolute owner <br /> 19 <br />