Ord 2005-098 - Laserfiche WebLink

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I I I Section 4 02. Optional Redemption. (a) The City reserves the option to redeem the Certificates maturing on and after August 15, 2015, in whole or from time to time in part, before their scheduled maturity date, on August 15, 2014, or on any date thereafter (such redemption date or dates to be fixed by the City) at a price equal to the principal amount of the Certificates called for redemption plus accrued interest from the most recent interest payment date on WhICh mterest has been pmd or duly provIded for to the redemption date, (b) The City, at least forty-five (45) days before the redemption date (unless a shorter period shall be satisfactory to the Paying Agent/Registrar), shall notify the Paymg Agent/Registrar of such redemption date and of the principal amount of Certificates to be redeemed. SectIon 4 03 Partial Redemption. (a) If less than all of the Certificates are to be redeemed pursuant to SectIon 4 02(a), the City shall determine the maturities and amounts thereof to be redeemed and shall direct the Paying AgentJRegistrar (or DTC or a successor securities depository, as applicable, ifthe Certificates are in Book- Entry-Only form) to call by lot Certificates, or portIons thereofwithm such matunty and m such prmcIpal amounts, for redemptIon. (b) A portion of a single Certificate of a denomination greater than $5,000 may be redeemed, but only in a principal amount equal to $5,000 or any integral multiple thereof The Paying Agent/RegIstrar shall treat each $5,000 portion of the Certificate as though it were a single Certificate for purposes of selection for redemption. (c) Upon surrender of any Certificate for redemption in part, the Paying Agent/Registrar, in accordance with Section 3 06 , shall authenticate and deliver in exchange a Certificate or Certificates in an aggregate principal amount equal to the unredeemed portion of the Certificate so surrendered. (d) The Paymg Agent/Registrar shall promptly notify the City in writing of the principal amount to be redeemed of any Certificate as to which only a portion thereof is to be redeemed. Section 4 04 Notice of Redemption to Owners. (a) The Paying Agent/Registrar shall give notice of any redemption of Certificates by sending notice by United States mail, first class postage prepaid, not less than thirty (30) days before the date fixed for redemption, to the Owner of each Certificate (or part thereof) to be redeemed, at the address shown on the Register (b) The notice shall state the redemption date, the redemption price, the place at which the Certificates are to be surrendered for payment, and, if less than all the CertIficates outstandmg are to be redeemed, an identification of the CertIficates or portions thereof to be redeemed. (c) Any notice gIven as provided in thIS SectIOn shall be conclusIvely presumed to have been duly given, whether or not the Owner receIves such notice. San Marcos CTRCO 2005 Ord 12-07 2005 13