Ord 2007-007 - Laserfiche WebLink

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Paymg Agent/RegIstrar, If and when funds for the payment of such mterest have been receIved from the CIty NotIce of the Special Record Date and of the scheduled payment date of the past due mterest (the "SpecIal Payment Date", whIch shall be 15 days after the Special Record Date) shall be sent at least five busmess days pnor to the Special Record Date by Umted States mall, first class postage prepaid, to the address of each registered owner of a CertIficate appearing on the books of the Paymg Agent/Registrar at the close of bus mess on the last busmess day precedmg the date of mailing such notice If a date for the payment of the pnncIpal of or interest on the CertIficates IS a Saturday, Sunday, legal hohday, or a day on whIch bankmg mstItutIOns 10 the CIty 10 WhIch the DeSIgnated Payment/Transfer Office IS located are authonzed by law or executIve order to close, then the date for such payment shall be the next succeedmg day WhICh IS not a Saturday, Sunday, legal holIday, or day on whIch such bankmg mstItutIons are authonzed to close, and payment on such date shall have the same force and effect as If made on the ongmal date payment was due This CertIficate IS one of a senes of fully regIstered certIficates of oblIgatIOn specIfied 10 the tItle hereof Issued 10 the aggregate prinCIpal amount of $15,575,000 (herem referred to as the "CertIficates"), Issued pursuant to a certam Ordmance of the CIty Council of the CIty (the "Ordmance"), for the followmg purposes constructing, acquiring and equipping a conference center facility and related improvements including parking facilities and utility and infrastructure improvements to be located in the vicinity of the northeast side of the intersection of McCarty Lane and IH-3 5, capitalizing interest on the Certificates, and the payment of professional services in connection therewith including legal, fiscal and engineering fees and the costs of issuing the Certificates The CertIficates and the mterest thereon are payable from the levy of a direct and contmumg ad valorem tax, wIthm the lImIt prescribed by law, agamst all taxable property in the City and by a lImIted pledge of certain Surplus Revenues of the CIty'S waterworks and sewer system, all as proVIded m the Ordmance The CIty has reserved the option to redeem the Certificates matunng on and after February 15,2017, before theIr respectIve scheduled matunty m whole or from tIme to tIme m part 10 mtegral multIples of $5,000, on February 15,2016, or on any date thereafter, at a pnce equal to the pnncIpal amount of the CertIficates so called for redemptIOn plus accrued mterest to the redemptIOn date If less than all of the CertIficates are to be redeemed, the CIty shall detenmne the amounts thereof to be redeemed and shall dIrect the Paymg Agent/RegIstrar to call by lot CertIficates, or portIOns thereof wIthm such matunty or matuntIes and m such amounts, for redemptIOn. NotIce of such redemptIOn or redemptIOns shall be sent by Umted States mail, first class postage prepaId, not less than 30 days before the date fixed for redemptIOn, to the regIstered owner of each of the CertIficates to be redeemed m whole or m part. NotIce havmg been so gIven, the CertIficates or portIOns thereof deSIgnated for redemptIOn shall become due and payable on the redemptIOn date specIfied 10 such notIce, and from and after such date, notwIthstandmg that any of the CertIficates or portIOns thereof so called for redemptIOn shall not have been surrendered for payment, mterest on such CertIficates or portIOns thereof shall cease to accrue CondItIonal notIce of redemptIOn may also be gIven as proVIded 10 the Ordinance With respect to any optIOnal redemptIOn ofi the CertIficates, unless certam prereqUisites to such redemption requIred by the Ordmance have been mF.t and moneys suffiCIent to pay the pnncIpal of and premIUm, If any, and mterest on the CertIficates to be redeemed shall have been receIved by the Paymg Agent/RegIstrar prior to the gIVIng of such notIce of ~edemptIOn, such notice shall state that Said redemptIOn San Marcos CTRCO 2007- Ordinance 18