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of the same maturity date aggregating the principal amount of the <br />Refunding Bond or Refunding Bonds so surrendered. The City and <br />the Finance Director may deem and treat the registered owner of <br />any Refunding Bond as the absolute owner of such Refunding Bond <br />for the purpose of receiving payment thereof and for all other <br />purposes, whether such Refunding Bond shall be overdue or not, <br />and neither the City nor the Finance Director shall be affected <br />by any notice or knowledge to the contrary; and payment of the <br />interest on and principal of and redemption premium, if any, on <br />such Refunding Bond shall be made only to such registered owner <br />as above provided, which payment shall be valid and effectual to <br />satisfy and discharge liability on such Refunding Bond to the <br />extent of the sum or sums so paid. <br /> <br /> Section 8. The reassessments levied on the respective <br />parcels in Consolidated Reassessment District 1993-1, together <br />with interest thereon computed at the rate specified in the <br />Refunding Bonds (which interest shall begin to run from the date <br />of the Refunding Bonds), shall, in accordance with and consistent <br />with the Act, remain and constitute a trust fund for the <br />redemption and payment of the principal of the Refunding Bonds <br />and for the interest due thereon, and said reassessments and each <br />installment thereof and the interest and penalties thereon shall <br />constitute a lien against the lots and parcels of land on which <br />they are made until the same be paid. The Finance Director of <br />the City shall furnish to the County Auditor of Alameda County <br />(the "Auditor") and, as prescribed by the Act, the Auditor shall <br />keep records in his office showing the several installments of <br /> <br />sm-]s~6.1 16 <br /> <br /> <br />