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Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Register confidential and,
<br />unless otherwise required by law, shall not permit their inspection by any other entity. The Paying
<br />Agent/Registrar shall make a copy of the Register available in the State of Texas. The City shall pay
<br />the Paying Agent/Registrar's standard or customary fees and charges for making such registration,
<br />transfer, conversion, exchange and delivery of a substitute Bond. Registration of assignments,
<br />transfers, conversions and exchanges of Bonds shall be made in the manner provided and with the
<br />effect stated in the FORM OF BOND set forth in this Ordinance. Each substitute Bond shall bear
<br />a letter and /or number to distinguish it from each other Bond.
<br />Except as provided in subsection (c) hereof, an authorized representative of the Paying
<br />Agent/Registrar shall, before the delivery of any such Bond, date and manually sign the Bond, and
<br />no such Bond shall be deemed to be issued or outstanding unless such Bond is so executed. The
<br />Paying Agent/Registrar promptly shall cancel all paid Bonds and Bonds surrendered for conversion
<br />and exchange. No additional ordinances, orders, or resolutions need be passed or adopted by the City
<br />Council or any other body or person so as to accomplish the foregoing conversion and exchange of
<br />any Bond or portion thereof, and the Paying Agent/Registrar shall provide for the printing, execution,
<br />and delivery of the substitute Bond in the manner prescribed herein, and the Bonds shall be
<br />typewritten, photocopied, printed, lithographed, engraved or produced in any other similar manner,
<br />all as determined by the officers executing such bond as evidenced by their execution thereof.
<br />Pursuant to Chapter 1201, Texas Government Code, as amended, and particularly Subchapter D
<br />thereof, the duty of conversion and exchange of Bonds as aforesaid is hereby imposed upon the
<br />Paying Agent/Registrar, and, upon the execution of the Bonds, the converted and exchanged Bond
<br />shall be valid, incontestable, and enforceable in the same manner and with the same effect as the Bond
<br />which initially was issued and delivered pursuant to this Ordinance, approved by the Attorney
<br />General, and registered by the Comptroller of Public Accounts.
<br />(b) Payment of Principal and Interest. The City hereby further appoints the Paying
<br />Agent/Registrar to act as the paying agent for paying the principal of and interest on the Bond, all as
<br />provided in this Ordinance and in the Pricing Certificate. The Paying Agent/Registrar shall keep
<br />proper records of all payments made by the City and the Paying Agent/Registrar with respect to the
<br />Bond, and of all conversions and exchanges of Bonds, and all replacements of Bonds, as provided
<br />in this Ordinance. However, in the event of a nonpayment of interest on a scheduled payment date,
<br />and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record
<br />Date ") will be established by the Paying Agent/Registrar, if and when funds for the payment of such
<br />interest have been received from the City. Notice of the Special Record Date and of the scheduled
<br />payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be
<br />sent at least five (5) Business Days prior to the Special Record Date by United States mail, first -class
<br />postage prepaid, to the address of each Registered Owner appearing on the Register at the close of
<br />business on the last Business Day next preceding the date of mailing of such notice.
<br />(c) In General. The Bonds (i) shall be issued in fully registered form, without interest
<br />coupons, with the principal of and interest on such Bonds to be payable only to the Registered
<br />Owner, (ii) may be transferred and assigned, (iii) may be converted and exchanged for another Bond,
<br />(iv) shall have the characteristics, (v) shall be signed, sealed, executed and authenticated, (vi) shall
<br />San Marcos GORB 2010 - Delegated: Ordinance 6
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