Ord 1985-121 - Laserfiche WebLink

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the name of the registered owner Signature Guaranteed: as it appears on the face of the within Bond in every particular and must be guaranteed by an officer of a federal or state By bank or a member of the National Authorized Signatory Association of Securities Dealers (f) Initial Bond. The Initial Bond shall be in the form set forth in Paragraph (b) of this Section, excepting as follows: (i) Immediately under the name of the Bond the headings "Interest Rate: " and "Due: " shall both be completed with the expression "As Shown Below"; (ii) The first two paragraphs of the body of the Initial Bond shall read as follows: THE CITY OF SAN MARCOS (the "City"), in the County of Hays, Texas, hereby promises to pay to (Insert name of Purchaser of the Bonds or Designee) or the registered assi~ns thereof, on the 15th day of August in each of the years, ln the principal amounts, together with interest at the rates per annum, in accordance with the following schedule: Principal Interest Year Installment Rate (Insert information from schedule in Section 2 hereof) such interest being payable on August 1 and February 1 of each year, commencing on August 1, 1986. PRINCIPAL of this Bond shall be payable to the registered owner hereof, upon presentation and surrender of this Bond, at the principal corporate office of MBank Austin, N .A., Austin, Texas (the "Paying Agent/Registrar"). Interest shall be payable to the registered owner of this Bond whose name appears on the Registration Books maintained by the Paying Agent/Registrar at the close of business on the Record Date, which is the 15th day of the month next preceding each interest payment date hereof; provided, however, that in the event of nonpayment of interest on a scheduled interest payment date, and for thirty days thereafter, a new record date for such interest payment (the "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 the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date", which shall be fifteen days after the Special Record Date) shall be sent at least five business days prlor to -10-