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(b) If any Certificate or portion thereof called for redemption is not so paid upon <br /> presentation and surrender of such Certificate for redemption, such Certificate or portion thereof <br /> shall continue to bear interest at the rate stated on the Certificate until paid or until due provision is <br /> made for the payment of same. <br /> Section 4.07. Conditional Notice of Redemption. <br /> With respect to any optional redemption of the Certificates, unless certain prerequisites to <br /> such redemption require by this have been met and the moneys sufficient to pay the principal of and <br /> premium, if any, and interest on the Certificates to be redeemed shall have been received by the <br /> Paying Agent/Registrar prior to the giving of such notice of redemption, such notice shall state that <br /> said redemption may, at the option of the City, be conditional upon the satisfaction of such <br /> prerequisites and receipt of such moneys by the Paying Agent/Registrar on or prior to the date fixed <br /> for such redemption,or upon any prerequisite set forth in such notice of redemption. If a conditional <br /> notice of redemption is given and such prerequisites to the redemption and sufficient moneys are not <br /> received, such notice shall be of no force and effect,the City shall not redeem such Certificates and <br /> the Paying Agent/Registrar shall give notice, in the manner in which the notice of redemption was <br /> given, to the effect that the Certificates have not been redeemed. <br /> ARTICLE V <br /> PAYING AGENT/REGISTRAR <br /> Section 5.01. Appointment of Initial Paying Agent/Registrar. <br /> (a) The City hereby appoints Regions Bank,Houston,Texas,as its registrar and transfer <br /> agent to keep such books or records and make such transfers and registrations under such reasonable <br /> regulations as the City and the Paying Agent/Registrar may prescribe; and the Paying <br /> Agent/Registrar shall make such transfer and registrations as herein provided. It shall be the duty <br /> of the Paying Agent/Registrar to obtain from the Owners and record in the Register the address of <br /> such Owner of each Certificate to which payments with respect to the Certificates shall be mailed, <br /> as provided herein. The City or its designee shall have the right to inspect the Register during <br /> regular business hours of the Paying Agent/Registrar,but otherwise the Paying Agent/Registrar shall <br /> keep the Registration Books confidential and,unless otherwise required by law,shall not permit their <br /> inspection by any other entity. <br /> (b) The City hereby further appoints the Paying Agent/Registrar to act as the paying agent <br /> for paying the principal of and interest on the Certificates. The Paying Agent/Registrar shall keep <br /> proper records of all payments made by the City and the Paying Agent/Registrar with respect to the <br /> Certificates, and of all conversions, exchanges and replacements of such Certificates, as provided <br /> in this Ordinance. <br /> (c) The Mayor of the City is hereby authorized to approve and execute an agreement <br /> between the City and the Paying Agent/Registrar, specifying the duties and responsibilities of the <br /> City and the Paying Agent/Registrar, with such changes as may be approved by the Mayor of the <br /> City. <br /> San Marcos CTRCO 2017:Ordinance 17 <br />