The Series 2018 Bonds shall be special fund revenue obligations of the University payable only out of the Bond Fund, and shall be secured as provided herein. The Series 2018 Bonds are not general obligations of the University. The Series 2018 Bonds do not constitute an indebtedness of the University or the State of Washington within the meaning of the constitutional provisions and limitations of the State. Section 5. Registrar; Registration and Transfer of Series 2018 Bonds. (a) Registrar; Duties. The Fiscal Agency is appointed as initial Registrar for the Series 2018 Bonds. The Registrar shall keep, or cause to be kept, sufficient books for the registration and transfer of the Series 2018 Bonds, which shall be open to inspection by the University at all times. The Registrar is authorized, on behalf of the University, to authenticate and deliver the Series 2018 Bonds transferred or exchanged in accordance with the provisions of the Series 2018 Bonds and this Series Resolution, to serve as the University’s paying agent for the Series 2018 Bonds, and to carry out all of the Registrar’s powers and duties under this Series Resolution and the Master Resolution (as they pertain to the Series 2018 Bonds). The Registrar shall be responsible for its representations contained in the Registrar’s Certificate of Authentication on each Series 2018 Bond. The Registrar may become an Owner of a Series 2018 Bond with the same rights it would have if it were not the Registrar and, to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as members of, or in any other capacity with respect to, any committee formed to protect the rights of Owners. (b) Bond Register; Transfer and Exchange. The Series 2018 Bonds shall be issued only in registered form as to both principal and interest and shall be recorded on the Bond Register. The Bond Register shall contain the name and mailing address of each Registered Owner and the principal amount and number of each Series 2018 Bond held by each Registered
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