Res 1985-111 - Laserfiche WebLink

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Paying Agent/Registrar ... The initial Paying Agent/Registrar will be ~1Bank Austin, N.A., Austin, Texas. In the Ordinance the City retains the right to replace the Paying Agent/ Registrar. The City convenants to maintain and provide a Paying Agent/Registrar at all times while the Bonds are outstanding and any successor Paying Agent/Re~istrar shall be a bank, trust company, financial institution, or other entity duly qualified and leagally authorized to serve as and perform the duties 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 Owner of the Bonds by United States mail, first class, postage prepaid, which notice shall also give the address of the new Paying Agent/Registrar. Record Date 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. In the event of non-payment of interest on a scheduled payment date, and for 30 days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying A~ent/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 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. Transfer, Exchange and Registration ... The Bonds may be transferred and exchanged on the registration books of the Paying Agent/Registrar only upon presentation and surrender thereof to the Paying Agent/Registrar, and such transfer or exchange shall be without expense or service charge to the Holder, except for any tax or other governmental 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 instrument 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. Limitation on Transfer of Bonds Called for Redemption ... Neither the City or the Paying Agent/Registrar shall be required to transfer or exchange to an assignee of the Holder of the Bonds any Bond called 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 Holder of an unredeemed balance of a Bond called for redemption in part. - 2 -