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<br />I <br /> <br />I <br /> <br />I <br /> <br />Section 4.07. Conditional Notice of Redemption. <br /> <br />With respect to any optional redemption of the Bonds, unless certain prerequisites to such <br />redemption required by this Ordinance have been met and moneys sufficient to pay the principal of <br />and premium, if any, and interest on the Bonds to be redeemed shall have been received by the <br />Paying Agent/Registrar prior to the giving of such notice of redemption, such notice shall state that <br />said redemption may, at the option of the City, be conditional upon the satisfaction of such <br />prerequisites and receipt of such moneys by the Paying Agent/Registrar on or prior to the date fixed <br />for such redemption, or upon any and such prerequisites to the redemption and sufficient moneys are <br />not received, such notice shall be of no force and effect, the City shall not redeem such Bonds and <br />the Paying Agent/Registrar shall give notice, in the manner in which the notice of redemption was <br />given, to the effect that the Bonds have not been redeemed. <br /> <br />ARTICLE V <br /> <br />PAYING AGENT/REGISTRAR <br /> <br />Section 5.01. Appointment of Initial Payin~ A~ent/Re~istrar. <br /> <br />(a) The City hereby appoints lPMorgan Chase Bank, National Association, as its registrar <br />and transfer agent to keep such books or records and make such transfers and registrations under <br />such reasonable regulations as the City and the Paying Agent/Registrar may prescribe; and the <br />Paying Agent/Registrar shall make such transfer and registrations as herein provided. It shall be the <br />duty of the Paying Agent/Registrar to obtain from the Owners and record in the Register the address <br />of such Owner of each Bond to which payments with respect to the Bonds shall be mailed, as <br />provided herein. The City or its designee shall have the right to inspect the Register during regular <br />business hours ofthe Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep <br />the Registration Books confidential and, unless otherwise required by law, shall not permit their <br />inspection by any other entity. <br /> <br />(b) The City hereby further appoints the Paying Agent/Registrar to act as the paying agent <br />for paying the principal of and interest on the Bonds. The Paying Agent/Registrar shall keep proper <br />records of all payments made by the City and the Paying Agent/Registrar with respect to the Bonds, <br />and of all conversions, exchanges and replacements of such Bonds, as provided in this Ordinance. <br /> <br />(c) The execution and delivery of a Paying Agent/Registrar Agreement, specifying the <br />duties and responsibilities ofthe City and the Paying Agent/Registrar, is hereby approved with such <br />changes as may be approved by the Mayor of the City, and the Mayor and City Clerk of the City are <br />hereby authorized to execute such agreement. <br /> <br />Section 5.02. Qualifications. <br /> <br />Each Paying Agent/Registrar shall be (i) a commercial bank, trust company, or other entity <br />duly qualified and legally authorized under applicable law, (ii) authorized under such laws to <br /> <br />SANMARCOS/WWWSRev2006A-2: Ordinance <br /> <br />16 <br />