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2024 <br />2034 <br />2025 <br />2035 <br />2026 <br />2036 <br />2027 <br />2037 <br />2028 <br />2038 <br />2029 <br />2039 <br />Section 3.03. Medium, Method and Place of Pam. <br />(a) The principal of, premium, if any, and interest on the Certificates shall be paid in <br />lawful money of the United States of America as provided in this Section. <br />(b) Interest on the Certificates shall be payable to the Owners whose names appear in the <br />Register at the close of business on the Record Date; provided, however, that in the event of <br />nonpayment of interest on a scheduled Interest Payment Date, and for 30 days thereafter, a new record <br />date for such interest payment (a "Special Record Date") will be established by the Paying <br />Agent/Registrar if and when funds for the payment of such interest have been received from the City. <br />Notice of the Special Record Date and of the scheduled payment date of the past due interest (the <br />"Special Payment Date", which shall be at least 15 days after the Special Record Date) shall be sent <br />at least five business days prior to the Special Record Date by United States mail, first-class postage <br />prepaid, to the address of each Owner of a Certificate appearing on the books of the Paying <br />Agent/Registrar at the close of business on the last business day next preceding the date of mailing of <br />such notice. <br />(c) Interest on the Certificates shall be paid by check (dated as of the Interest Payment <br />Date) and sent by the Paying Agent/Registrar to the person entitled to such payment by United States <br />mail, first class postage prepaid, to the address of such person as it appears in the Register or by such <br />other customary banking arrangements acceptable to the Paying Agent/Registrar and the person to <br />whom interest is to be paid; provided, however, that such person shall bear all risk and expenses of <br />such other customary banking arrangements. <br />(d) The principal of each Certificate shall be paid to the person in whose name such <br />Certificate is registered on the due date thereof (whether at the maturity date or the date of prior <br />redemption thereof) upon presentation and surrender of such Certificate at the Designated <br />Payment/Transfer Office. <br />(e) If a date for the payment of the principal of or interest on the Certificates is a Saturday, <br />Sunday, legal holiday, or a day on which banking institutions in the city in which the Designated <br />Payment/Transfer Office is located are authorized by law or executive order to close, then the date <br />for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or <br />San Marcos CIRCO 2019: Ordinance <br />