Ord 2005-098 - Laserfiche WebLink

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1 I I have the right to inspect the Register during regular business hours of the Paying AgentJRegistrar, but otherWIse the Paying Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not permit theIr inspection by any other entity (b) The City hereby further appoints the Paying Agent/Registrar to act as the paying agent for paying the pnncipal of and interest on the Certificates. The Paymg AgentJRegistrar shall keep proper records of all payments made by the City and the Paymg Agent/Registrar with respect to the Certificates, and of all conversions, exchanges and replacements of such Certificates, as provided in this Ordinance. (c) The execution and delIvery of a Paying Agent/Registrar Agreement, specIfymg the duties and responsibilities ofthe City and the Paying Agent/Registrar, is hereby approved with such changes as may be approved by the Mayor of the City, and the Mayor and City Clerk of the CIty are hereby authorized to execute such agreement. Section 5 02, QualificatIOns. Each Paying AgentJRegistrar shall be (i) a commercial bank, trust company, or other entity duly qualified and legally authorized under applicable law, (ii) authorized under such laws to exercise trust powers, (iii) subject to supervision or examination by a federal or state governmental authority, and (IV) a single entity Section 5 03 Maintaining Paymg Agent/Registrar (a) At all tImes while any Certificates are outstandmg, the City will maintain a Paying Agent/Registrar that is qualified under SectIon 5 02 of this Ordmance. (b) If the Paymg Agent/Registrar resigns or otherwise ceases to serve as such, the City wIll promptly appomt a replacement. Section 5 04 Termmation. The CIty reserves the right to terminate the appomtment of any Paying AgentJRegIstrar by delivering to the entity whose appomtment is to be terminated a certified copy of a resolution of the City (i) gIvmg notice of the termination of the appointment and of the Paying AgentJRegistrar Agreement, stating the effective date of such termination, and (ii) appointing a successor Paying AgentJRegistrar; provided that no such termination shall be effective until a successor Paying Agent/Registrar has accepted the duties of Paying Agent/Registrar for the Certificates. Section 5 05 Notice of Change to Owners. Promptly upon each change in the entity serving as Paying Agent/Registrar, the City will cause notice of the change to be sent to each Owner by Umted States mail, first class postage prepaId, at the address m the Register, statmg the effective date ofthe change and the name ofthe replacement Paying Agent/Registrar and the mailing address of its Designated Payment/Transfer Office San Marcos CTRCO 2005; Oed 12-07 2005 15