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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 Paying <br />Agent/Registrar prior to the giving of such notice of redemption, such notice shall state that said <br />redemption may, at the option of the City, be conditional upon the satisfaction of such prerequisites <br />and receipt of such moneys by the Paying Agent/Registrar on or prior to the date fixed for such <br />redemption, or upon any prerequisite set forth in such notice of redemption. If a conditional notice <br />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 Pang A end t/Re ig strar. <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; acid the Paying Agent/Registrar <br />shall make such transfer and registrations as herein provided. It shall be the duty of the Paying <br />Agent/Registrar to obtain from the Owners and record in the Register the address of such Owner of <br />each Certificate to which payments with respect to the Certificates shall be mailed, as provided herein. <br />The City or its designee shall have the right to inspect the Register during regular business hours of <br />the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall keep the Registration <br />Books confidential and, unless otherwise required by law, shall not permit their inspection by any <br />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 in <br />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 City <br />and the Paying Agent/Registrar, with such changes as may be approved by the Mayor of the City. <br />Section 5.02. Qualifications. <br />Each Paying Agent/Registrar shall be (i) a commercial bank, trust company, or other entity <br />duly qualified and legally authorized under applicable law, (ii) authorized under such laws to exercise <br />16 <br />San Marcos CIRCO 2019: Ordinance <br />