Ord 1984-033 - Laserfiche WebLink

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(b) Registration Books. The City agrees and covenants to cause to be kept and maintained at the principal corporate office of the Paying Agent/Registrar books and records for the registration, payment and transfer of the Certificates (the "Registration Books"), all as provided herein, pursuant to an agreement between the City and the Paying Agent/Registrar therefor and such reasonable rules, regulations and procedures as the Paying Agent/Registrar may establish. The City shall maintain and provide a Paying Agent/Registrar at all times while the Certificates are outstanding, and any successor Paying Agent/Registrar shall be a bank, trust company, financial institution or other entity legally authorized and fully qualified to serve and perform the duties and services of Paying Agent/Registrar for the Certificates. Upon any change in the Paying Agent/Registrar (1) the new Paying Agent/Registrar shall accept the previous Paying Agent/Registrar's records and act in the same capacity as the previous Paying Agent/Registrar, and (2) the City shall cause a written notice thereof to be sent promptly thereafter to each registered owner of the Certificates, by Uni ted States mail, first class postage prepaid, which notice shall also state the name and address of the new Paying Agent/Registrar. Section 6. REDEMPTION. (a) Option to Redeem. The Certificates scheduled to mature on and after August 1, 1995, shall be subject to redemption prior to maturity, at the option of the City, on August 1, 1994, or on any interest payment date thereafter, as a whole or in part, in principal amounts of $5,000 or any integral multiple thereof (and if within a Stated Maturity at random and by lot by the Paying Agent/Registrar), at the redemption price equal to the principal amount thereof plus accrued interest to the date of redemption. (b) Exercise of Option. At least 45 days prior to a date set for redemption of Certificates (unless a shorter notice shall be satisfactory to the Paying Agent/Registrar), the City shall notify the Paying Agent/Registrar of the date set for such redemption and the principal amount of Certificates of each Stated Maturity to be redeemed. The City's decision to exercise its option to redeem any Certificates shall be entered in the official minutes of its governing body. (c) Selection of Certificates for Redemption. If less than all of the Outstanding Certificates of a Stated Maturity are to be redeemed on a redemption date, the Paying Agent/Registrar shall select at random and by lot the Certificates to be redeemed¡ provided, however, that if less than the entire amount of a Certificate is to be redeemed, the Paying Agent/Registrar shall treat such Certificate then subject to redemption as representing the number of Outstanding Certificates which is obtained by dividing the principal amount of such Certificate by $5,000. The Paying Agent/Registrar shall promptly notify the City in writing of the Certificates selected for redemption and, in the case of any Certificate selected for partial redemption, the principal amount of such Certificate to be redeemed. (d) Notice of Redemption. Not less than 30 days prior to a redemption date for the Certificates, the City shall cause a notice of redemption to be sent by united States mail, first class postage prepaid, to each registered owner of a Certificate to be redeemed, in whole or in part, at the address of the registered owner appearing on the Registration Books at the time such notice of redemption is mailed. Any notice of redemption so mailed shall be conclusi vely presumed to have been duly given whether or not received by the Holder. All notices of redemption shall state ( i) the date of redemption for the Certificates (ii) the identity of the Certificates to be redeemed and, in the case of a portion of the principal amount to be redeemed, the principal amount thereof to be redeemed, (iii) the redemption pr ice, (iv) that on the redemption date the redemption price of each of the Certificates to be redeemed will become due and -3-