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<br />mterest have been recei ved from the City Notice of the Special Record Date and of the scheduled payment
<br />date of the past due interest (the "Special Payment Date", which shall be 15 days after the Special Record
<br />Date) shall be sent at least five business days prior to the Special Record Date by Umted States mail, first
<br />class postage prepaid, to the address of each registered owner of a Certificate appearing on the books of the
<br />Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing such
<br />notIce,
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<br />If a date for the payment ofthe principal of or interest on the Certificates is a Saturday, Sunday, legal
<br />holiday, or a day on which banking institutions in the city in which the Designated Payment/Transfer Office
<br />is located are authorized by law or executive order to close, then the date for such payment shall be the next
<br />succeeding day which is not a Saturday, Sunday, legal holIday, or day on WhICh such banking instItutions
<br />are authorized to close; and payment on such date shall have the same force and effect as if made on the
<br />original date payment was due.
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<br />ThIS Certificate is one of a series of fully registered certificates of oblIgatIOn specified in the tItle
<br />hereof issued in the aggregate principal amount of $6,225,000 (herein referred to as the "Certificates"),
<br />issued pursuant to a certain Ordmance of the City CouncIl of the City (the "Ordmance"), for the followmg
<br />purposes paying contractual obligations to be incurred for constructing, reconstructing and improving
<br />streets, ADA building renovatIons, improving and equippmg parks, purchasing, improving and equipping
<br />IT Department, Municipal Court, Police Department, Library, EqUIpment Services Department, Fire
<br />Department, Engineering Department, Traffic Control Department, Streets Department, Animal Services
<br />Department, Environmental Health Department, Rangers Department, Marshall's Office, Parks and
<br />RecreatIon Department vehicles, equipment and facilities, deSIgn services for new multI-service center; and
<br />acquisition of new aerial photographs and planemetrics for use by City departments, and to pay costs of
<br />issuance with respect to such certificates of obligation.
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<br />The Certificates and the interest thereon are payable from the levy of a direct and continuing ad
<br />valorem tax, within the limit prescribed by law, against all taxable property in the City and by a lirruted
<br />pledge of certain Surplus Revenues of the City's waterworks and sewer system, all as provided m the
<br />Ordinance.
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<br />The City has reserved the option to redeem the CertIficates maturing on and after August 15,2015,
<br />before their respective scheduled maturity in whole or from time to time in part in integral multiples of
<br />$5,000, on August 15, 2014, or on any date thereafter, at a pnce equal to the principal amount of the
<br />CertIficates so called for redemption plus accrued mterest to the redemption date, If less than all of the
<br />Certificates are to be redeemed, the City shall determine the amounts thereof to be redeemed and shall direct
<br />the Paying Agent/Registrar to call by lot CertIficates, or portions thereof within such maturity or maturities
<br />and in such amounts, for redemption,
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<br />Notice of such redemption or redemptions shall be sent by United States mail, first class postage
<br />prepaid, not less than 30 days before the date fixed for redemption, to the registered owner of each of the
<br />Certificates to be redeemed in whole or in part. Notice having been so given, the Certificates or portions
<br />thereof designated for redemption shall become due and payable on the redemption date specified in such
<br />notice, and from and after such date, notwithstanding that any of the Certificates or portIons thereof so called
<br />for redemption shall not have been surrendered for payment, interest on such Certificates or portions thereof
<br />shall cease to accrue Conditional notice of redemptIOn may also be gIven as proVIded m the Ordmance,
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<br />Sao Marcos CTRCO 2005' Ord 12-01 2005
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