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s <br />0 <br />simile signature of any person who shall have been such Chairman <br />at any time on or after the date of the Obligations, not- <br />withstanding that he may have ceased to be such officer at the <br />time such Obligations shall be actually sold and delivered. <br />SECTION 8. NEGOTIABILITY AND REGISTRATION. The <br />Obligations issued hereunder shall be and shall have all of the <br />q ualitles and incidents of negotiable instruments under the law <br />merchant and the laws of the State of Florida, and each suc- <br />cessive Holder, in accepting any of said Obligations or the <br />coupons appertaining thereto, shall be conclusively deemed to <br />have agreed that such Obligations shall be and shall have all of <br />the qualities and incidents of negotiable instruments under the <br />law merchant and the laws of the State of Florida. <br />The Obligations may be registered at the option of the <br />Holder as to principal only at the office of the Clerk of the <br />Board, as Registrar, or with such other registrar as may be sub- <br />sequently designated by such Board, such registration to be noted <br />on the back of the Obliaationc in the space provideti therefor. <br />After such registration as to principal only, no transfer of the <br />Obligations shall be valid unless made at said office by the <br />written assignment of the registered owner, or by his duly <br />authorized attorney in a form satisfactory to the Registrar, and <br />similarly noted on the Obligations, but the Obligations may be <br />discharged from registration by being in like manner transferred <br />to bearer and thereupon transferability by delivery shall be <br />restored. At the option of the Holder, the Obligations may <br />thereafter again from time to time be registered or transferred <br />to bearer as before. Such registration as to principal only <br />shall not affect the negotiability of the coupons which shall <br />continue to pass by delivery. <br />SECTION 4. OBLIGATIONS MUTILATED, DESTROYED, STOLEN OR <br />LOST. In case any Obligation shall become mutilated, or be <br />destroyed, stolen or lost, the County may, in its discretion, <br />issue and deliver a new Obligation with all unmatured coupons <br />-6- <br />