Ord 2007-007 - Laserfiche WebLink

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(b) Upon presentatIOn and surrender of any CertIficate called for redemptIOn at the Designated Payment/Transfer Office on or after the date fixed for redemptIOn, the Paymg Agent/RegIstrar shall pay the redemption pnce of such CertIficate to the date of redemptIOn from the money set aSIde for such purpose SectIOn 4 06 Effect of RedemptIOn. (a) NotIce of redemptIOn havmg been given as provIded m SectIOn 404 , the CertIficates or portIons thereof called for redemptIOn shall become due and payable on the date fixed for redemptIOn and, unless the CIty defaults m the payment of the redemptIOn pnce thereof, such CertIficates or portIOns thereof shall cease to bear mterest from and after the date fixed for redemptIOn, whether or not such Certificates are presented and surrendered for payment on such date (b) If any CertIficate or portIOn thereof called for redemptIOn IS not so paid upon presentatIOn and surrender of such CertIficate for redemptIOn, such CertIficate or portIOn thereof shall contmue to bear mterest at the rate stated on the CertIficate untIl paid or until due provIsIOn IS made for the payment of same Section 4 07 CondItional NotIce of RedemptIOn. With respect to any optIOnal redemptIOn of the CertIficates, unless certam prerequIsItes to such redemptIOn requne by this have been met and the moneys sufficIent to pay the pnncIpal of and premIUm, If any, and interest on the CertIficates to be redeemed shall have been receIved by the Paymg Agent/RegIstrar prior to the gIvmg of such notice of redemptIOn, such notice shall state that saId redemptIOn may, at the option of the CIty, be condItIOnal upon the satIsfactIOn of such prerequisites and receIpt of such moneys by the Paymg Agent/RegIstrar on or pnor to the date fixed for such redemptIOn, or upon any prerequisite set forth m such notIce of redemptIOn. If a condItIOnal notice of redemptIOn is gIven and such prereqUisItes to the redemption and sufficIent moneys are not receIved, such notIce shall be of no force and effect, the CIty shall not redeem such Certificates and the Paymg Agent/RegIstrar shall gIve notIce, m the manner m whIch the notIce of redemptIOn was gIven, to the effect that the CertIficates have not been redeemed. ARTICLE V PAYING AGENT/REGISTRAR SectIOn 5 01 Appomtment of InItial Pavmg Agent/Registrar (a) The CIty hereby appomts RegIOns Bank, as ItS regIstrar and transfer agent to keep such books or records and make such transfers and regIstratIOns under such reasonable regulations as the CIty and the Paymg Agent/RegIstrar may prescribe, and the Paymg Agent/RegIstrar shall make such transfer and regIstratIOns as herem provided. It shall be the duty of the Paymg AgentlRegIstrar to obtain from the Owners and record in the RegIster the address of such Owner of each CertIficate to whIch payments with respect to the CertIficates shall be mailed, as proVIded herem. The CIty or ItS deSIgnee shall have the nght to mspect the Register dunng regular busmess hours of the PayIng Agent/RegIstrar, but otherwIse the Paymg Agent/RegIstrar shall keep the RegIstration Books confidential and, unless otherwIse reqUired by law, shall not permit then mspectIOn by any other entIty (b) The CIty hereby further appomts the Paymg Agent/RegIstrar to act as the paying agent for paymg the pnncIpal of and mterest on the Certificates The Paying Agent/Registrar shall keep proper records San Marcos CTRCO 2007 Ordinance, 14