Ord 2007-008 - Laserfiche WebLink

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(d) The pnncIpal of each CertIficate shall be paid to the person 10 whose nalTle such Certificate is registered on the due date thereof (whether at the matunty date or the date of pnor redemption thereof) upon presentatiOn and surrender of such Certificate at the Designated Payment/Transfer Office (e) If a date for the payment of the principal of or mterest on the Certificates is a Saturday, Sunday, legal holiday, or a day on which bankmg institutIOns in 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 requued or authonzed to close, and payment on such date shall have the SalTle force and effect as if made on the ongmal date payment was due (f) SubJect to Title 6, Texas Property Code, as alTlended, Unclaimed Payments remammg unclaimed for three years after the applicable payment or redemptiOn date shall be paid by the Paymg Agent/Registrar to the City, to be used for any lawful purpose Thereafter, neither the City, the Paymg Agent/Registrar, nor any other person shall be liable or responsible to any Owners of such Certificates for any further payment of such unclaimed moneys or on account of any such Certificates, subJect to any applicable escheat, abandoned property, or similar law SectiOn 3 04 ExecutiOn and Imtial RegistratiOn. (a) The Certificates shall be executed on behalf of the City by the Mayor and InterIm City Clerk of the CIty, by theu manual or facSimile signatures, and the official seal of the City shall be impressed or placed 10 facSimile thereon. Such facsimile signatures on the Certificates shall have the SalTle effect as if each of the Certificates had been Signed manually and 10 person by each of said officers, and such facSimile seal on the Certificates shall have the same effect as if the official seal of the City had been manually impressed upon each of the Certificates (b) In the event that any officer of the City whose manual or facSimile Signature appears on the Certificates ceases to be such officer before the authenticatiOn of such Certificates or before the delivery thereof, such manual or facSimile Signature nevertheless shall be valid and sufficient for all purposes as if such officer had remamed 10 such office (c) Except as proVided below, no Certificate shall be valid or obligatory for any purpose or be entitled to any secunty or benefit of thiS Ordmance unless and until there appears thereon the Certificate of Paymg Agent/Registrar substantially 10 the form proVIded in thiS Ordmance, duly authenticated by manual executiOn by an officer or duly authorized representative of the Paymg Agent/Registrar It shall not be reqUired that the SalTle authonzed representative of the Paymg Agent/Registrar Sign the Certificate of Paymg Agent/Registrar on all of the Certificates In lieu of the executed Certificate of Paymg Agent/Registrar described above, the Imtial CertIficate delivered on the Closmg Date shall have attached thereto the Comptroller's RegIstratiOn Certificate substantially 10 the form proVided 10 thiS Ordmance, manually executed by the Comptroller of Public Accounts of the State of Texas or by his duly authonzed agent, which certificate shall be eVidence that the Imtial Certificate has been duly approved by the Attorney General of the State of Texas and that it is a valid and bmdmg obligatiOn of the City, and has been registered by the Comptroller of Public Accounts ofthe State of Texas (d) On the Closmg Date, one Imtial Certificate representmg the entire pnncipal alTlount of the Certificates, payable 10 stated mstallments to the Purchaser or its designee, executed by manual or facSimile San Marcos CTRCO 2007A. Ordinance 7