Res 1985-031 - Laserfiche WebLink

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REGISTRATION Payinq ~Qeni{~eqistrar . . . T~e Bonds will be issued only in fully registered form in any infegrà mu tlple 01'S5,000 for anyone maturity. Principal of the 30nds will be payable to the registered holder or owner (the "Ho1derll or "Owner") at maturity or redemption upon presentation at the principal corporate office of MBank, Austin, Texas, the Paying Agent/ Registrar. Interest on the Bonds will be payable by check, dated as of the interest -date, and mailed by the Paying Agent/Registrar to registered Holders as shown on the records of the Paying Agent/Registrar on the Record Date (see "Record Date for Interest Payment" herein). Successor Pavinq AQent/Re1istrar ... Provision is made in the Ordinance for replacement of the Paying Agent/Registrar. he City covenants to maintain and provide a Paying Agent/Registrar at all times while the Bonds are outstanding and any successor Paying Agent/Registrar shall be a bank, trust company, financial institution, or other entity duly qualified and legally autho- rized to serve as and perform the d~ties and services of Paying Agent/Registrar for the Bonds. Upon any change in the Paying Agent/Registrar for the Bonds, the City agrees to promptly cause a written notice thereof to be sent to each registered ~Iner of the Bonds by United States mail, first class, postage prepaid, which notice shall also give the address of the new Paying Agent/Registrar. Future Registration. . . The Bonds may be transferred, exchanged and registered only on the registration books of the Paying Agent/Registrar, and such registration, exchange and transfer shall be without expense or service charge to the Holder, except for any tax or other govern~ mental charges required to be paid with respect to such registration, exchange and transfer. A Bond may be assigned by the execution of an assignment form on the Bond or by other instru- ment of transfer and assignment acceptable to the Paying Agent/Registrar. A new Bond or Bonds will be delivered by the Paying Agent/Registrar, in lieu of the Bond being transferred or exchanged, at the principal corporate office of the Paying Agent/Registrar, or sent by United States mail, first class, postage prepaid, to the new registered Holder or his designee. To the extent possible. new Bonds issued in an exchange or transfer of Bonds will be delivered to the registered Holder or assignee of the Holder in not more than three business days after the receipt of the Bonds to be cancelled, and the written instrument of transfer or request for exchange duly executed by the Holder or his duly authorized agent, in form satisfactory to the Paying Agent/Registrar. New Bonds registered and delivered in an exchange or transfer shall be in any integral multiple of $5,000 for anyone maturity and for a like aggregate principal amount as the Bond or Bonds surrendered for exchange or transfer. Record ~ate for Interest Payment. . . The record date ("Record Date") for the interest payable on any interest payment date means the 15th day of the preceding month. rn the event of a non-payment of interest on a scheduled payment date, and for 30 days there- after, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from th~ City. Notice of ~he Special Record Date and of the scheduled payment date of the past due lnterest (the "Speclal Payment Date" which shall be 15 days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first class. postage prepaid. to the address of each Holder of a Bond appearing on the books of the Paying Agent/Registrar at the close of business on the last business day next preceding the date of mailing of such notice. Limitation on Transfer of Bonds Called for Redemption. . . Neither the City or the P~vino Agent/Registrar shall be required to transfer or exchange to an assignee of the Holderof-the Bonds any Bond callea for redemption, in whole or in part, within 45 days of the date fixed for redemption; provided, however, such limitation of transfer shall not be applicable to an exchange by the Bond ~older of an unredeemed balance of a Bond called for redempticn in part. -4-