Ord 1983-079 - Laserfiche WebLink

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wi th said interest to be payable on July 1, 1984, and semiannually thereafter on each January 1 and July 1. Section 4. .PAYMENT. Interest on any Certificate shall be paid to the person 1n whose name that Certificate (or one or more predecessor Certificates) is registered at the close of business on the 15th day of the month next preceding such interest payment date (the "Record Date"); provided, however, that in the event of non- payment of interest on a scheduled interest payment date, and for 30 days thereafter, a new record date for such interest payment (the "Special. Record. Date") will be established by the Paying Agent/Reg1strar, 1f 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 5 business days prior to the Speci~l Record Date by United Stated mail, first class, postage prepa1d, to the address of each Holder of a Certificate appearing on the books of the Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing of such notice. All payments of interest on the Certificates shall be paid by check mailed by the Paying Agent/Registrar to the person entitled to such payment, by United States mail, first class postage prepaid, at the address of such person as same appears in the Registration Books (as hereinafter defined) or by such other customary banking arrangements acceptable to the Paying Agent/Registrar and the person to whom interest is to be paid; provided, however, that such person shall bear all risk and expense of such customary banking arrangements. Principal on any Certificate shall be paid to the person in whose name such Certificate is registered at the maturity thereof, upon surrender of such Certificate to the Paying Agent/Registrar for cancellation. Section 5. PAYING AGENT/REGISTRAR. The selection of the The American National Bank of Austin, Austin, Texas , to serve as Paying Agent/Registrar for the Certificates is hereby approved and confirmed. The City agrees and covenants to cause to be kept and maintained at the principal 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 Ci ty 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 sh~ll accept the. previous pa~ing Agent/Registrar's records and act in the same capacIty as ~he prev1~us Paying Agent/Registrar, and (2) the City shall cause a written notice thereof to be sent promptly thereafter to each registered owner of ~he Certificates, by United States mail, first class postage prepa~d, which notice shall also state the name and address of the new Paying Agent/Registrar. Section 6. REDEMPTION. The Certificates are not subject to prior redemption at the option of the City. Section 7. REGISTRATION; TRANSFER; EXCHANGE. The paying Agent/Registrar shall obtain, record and maintain in the Regis~r~tion Books the name and address of each registered owner of the Certificate issued pursuant to the provisions of this Order. Upon surrender for transfer of any Certificate at the principal -2-