Ord 1983-079 - Laserfiche WebLink

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(i) Immediately under the name of the Certificate the headings "Interest Rate " and "Due " shall both be completed with the expression "As shown below"; (ii) The first paragraph of the body of the Initial Certificate shall read as follows: THE CITY OF SAN MARCOS (the "City"), in the County of Hays, State of Texas, hereby promises to pay to or the registered assigns thereof, on the 1st day of January in each of the years ~nd in the prin?ipal amounts and bearing interest at rates per annum In accordance wIth the following schedule: Principal Interest Year Installment Rate (Insert information from schedule in Section 2 hereof) (or so much thereof as shall not have been paid upon prior redemption) and to pay interest thereon while this Certificate is outstanding at the per annum rate of interest specified above; such interest being payable on January 1 and July 1 of each year commencing on January 1, 1985. Principal of this Certificate shall be payable to the registered owner hereof, upon presentation and surrender, at the principal office of The American National Bank of Austin, Austin, Texas (the "Paying Agent/Registrar"). Interest shall be payable to the registered owner of this Certificate 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 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/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 5 business days prior to the Special Record Date by United States mail, first class, postage prepaid, 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 principal of, premium, if any, and interest on this Certificate shall be in lawful money of the United States of America and shall be made by the Paying Agent/Registrar by check sent on or prior to the appropriate date of payment, by United States Mail, first class postage prepaid, to the registered owner hereof on the applicable dates specified, at the address appearing on ~he Registration Books or by such other method, acceptable to the PaYIng Agent/Registrar, requested by the registered owner hereof, at the Holder's risk and expense. (iii) The Initial Certificate shall be numbered R-l. Section 11. DEFINITIONS. That throughout this Ordinance the following terms as used herein shall have the meanings set forth below, unless the text hereof specifically indicates otherwise: (a) "City" means the City of San Marcos, Texas. (b) "City Council" and/or "Council" means the governing body of the City. -8-