Ord 1997-031 - Laserfiche WebLink

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I I - (d) The pnncIpaI of each Bond shall be paId to the person m whose name such Bond IS reg1stered on the due date thereof (whether at the maturIty date or the date of pnor redemphon thereof) upon presentatlOn and surrender of such Bond at the DeSIgnated Payment/Transfer Office (e) If a date for the payment of the pnncipal of or mterest on the Bonds 1S a Saturday, SWlday, legal hohday, or a day on wh1ch bankmg l11stitutlOns m the C1ty m which the Designated Payment/Transfer Office IS located are authonzed by law or executive order to close, then the date for such payment shall be the next succeedlllg day wh1ch IS not a Saturday, Sunday, legal holiday, or day on which such bankmg mst1lutlons are authonzed to close, and payment on such date shall have the same force and effect as If made on the origmal date payment was due Sechon 3 04 ExecutlOn and In1hal ReglstratlOn. (a) The Bonds shall be executed on behalf of the C1ty by the Mayor and C1ty Secretary ofthe City, by thw manual or facsunile slgnatures, and the offic1al seal of the C1ty shall be 1mpressed or placed m facs1mile thereon. Such facslflllle signatures on the Bonds shall have the same effect as 1f each of the Bonds had been Slgned manually and ill person by each of SaId officers, and such facs1mlle seal on the Bonds shall have the same effect as 1f the offic1al seal of the C1ty had been manually Impressed upon each of the Bonds. (b) In the event that any officer of the C1ty whose manual or facslmlle SIgnature appears on the Bonds ceases to be such officer before the authentIcatlOn of such Bonds or before the delivery thereof, such manual or facsImile SIgnature nevertheless shall be valId and suffic1ent for all purposes as 1f such officer had remamed m such office. (c) Except as prov1ded below, no Bond shall be valId or obhgatory for any purpose or be entiLled to any secunty or benefit of th1S Ordmance unless and until there appears thereon the CertIficate of Paymg Agent/Registrar Substallhally m the form prov1ded m thIS Ordmance, duly authent1cated by manual executlOn of the PaYlllg Agent/Reg1strar It shall not be reqmred that the same authonzed representatIve of the Paymg Agent/Reg1strar Slgn the Certificate of Paying Agent/RegIstrar on all of the Bonds. In lIeu of the executed Certificate ofPaymg Agent/Reglstrar described above, the IllltIal Bond dehvered on the Closing Date shall have attached thereto the Comptroller's Reg1stratlOn Cert1ficate substantIally III the form provIded m thIS Ordmance, manually executed by the Comptroller of Pubhc Accounts of the State of Texas or by h1S duly authonzed agent, which cert1ficate shall be eV1dence that the Inihal Bond has been duly approved by the Attorney General of the S tate of Texas and that 1t 1S a valid and bmdmg obl1gahon of the CIty, and has been re glstered by the Comp troller (d) On the C10smg Date, one IllltIaI Bond representmg the ent1re pnnc1pal amowlt of the Bonds, payable m stated mstaIlments to the Purchaser or its des1gnee, executed by manual or facslllule signature of the Mayor and CIty Secretary of the City, approved by the Attorney General of Texas, and reg1stered and manually slgned by the Comptroller of PublIc Accounts of the State of Texas, wIll be delIvered to the Purchaser or ItS deSignee. Upon payment for the Imhal Bond, the Paymg Agent/Reg1strar shall cancel the Illltlal Bond and dehver to DTC on behalf of the Purchaser one registered defimtlVe Bond for each year ofmatur1ty of the Bonds, m the aggregate pnncIpal amount of all of the Bonds for such maturIty, reg1stered m the name of Cede & Co , as nommee ofDTC To the extent that the PaYIDg Agent/Reglstrar IS elIgible to part1c1pate III DTC's FAST System, as eV1denced by agreement between the PaYlllg Agent/Reg1strar and DTC, the Paymg Agent/RegIstrar shall hold the defillltlve Bonds III safekeeplllg for DTC R:'..'lA......."MAR \wwss. 971DOCSIORDNCE. 6