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o person as at the actual time of the execution of such Bonds shall ® hold the proper office, although at the date of such Bonds such person may not have held such office or may not have been so ® authorized. If the Bonds are validated, a certification as to Circuit Court validation, in the form hereinafter provided, shall be exe- cuted with the facsimile signature of any present or future Chairman. i• SECTION 9. NEGOTIABILITY. The Bonds shall be and have all the qualities and incidents of negotiable instruments under the laws of the State of Florida, and each successive Holder, in accepting any of the Bonds, shall be conclusively deemed to have agreed that such Bonds shall be and have all of the qualities and incidents of negotiable instruments under the laws of the State of Florida. SECTION 10. REGISTRATION. The Bonds shall be issued only as fully registered bonds without coupons. The County shall, prior to the proposed date of delivery of the Bonds, by resolution designate the Bond Registrar and, if applicable, paying agent. The Bond Registrar shall be responsible for maintaining the books for the registration of and for the transfer of the Bonds and, if a bank is so designated, in compliance with an Agreement to be exe- cuted between the Issuer and such bank as Bond Registrar as parties on or prior to the delivery date of the Bonds. Such Agreement shall set forth in detail the duties, rights, and responsibilities of the parties to the Agreement. Upon surrender to the Bond Registrar for transfer or exchange of any Bond, duly endorsed for transfer or accompanied by an assignment or written authorization for exchange, whichever is applicable, duly executed by the Registered Owner or his attorney duly authorized in writing, the Bond Registrar shall deliver in the name of the Registered owner or the transferee or transferees, as the case may be, a new fully registered Bond or Bonds of authorized denominations of the same maturity and interest rate -13-