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Paying Agent/Registrar out of the funds provided for such payment. If a portion of any Bond
<br />shall be redeemed a substitute Bond or Bonds having the same maturity date, bearing interest at
<br />the same rate, in any denomination or denominations in any integral multiple of $5,000, at the
<br />written request of the Registered Owner, and in an aggregate principal amount equal to the
<br />unredeemed portion thereof, will be issued to the Registered Owner upon the surrender thereof
<br />for cancellation, at the expense of the Issuer, all as provided in the Bond Ordinance.
<br />WITH RESPECT TO any optional redemption of the Bonds, unless certain
<br />prerequisites to such redemption required by the Ordinance have been met and moneys sufficient
<br />to pay the principal of and premium, if any, and interest on the Bonds to be redeemed shall have
<br />been received by the Paying Agent/Registrar prior to the giving of such notice of redemption,
<br />such notice shall state that said redemption may, at the option of the City, be conditional upon
<br />the satisfaction of such prerequisites and receipt of such moneys by the Paying Agent/Registrar
<br />on or prior to the date fixed for such redemption, or upon any prerequisite set forth in such notice
<br />of redemption. If a conditional notice of redemption is given and such prerequisites to the
<br />redemption and sufficient moneys are not received, such notice shall be of no force and effect,
<br />the City shall not redeem such Bonds and the Paying Agent/Registrar shall give notice, in the
<br />manner in which the notice of redemption was given, to the effect that the Bonds have not been
<br />redeemed.
<br />ALL BONDS OF THIS SERIES are issuable solely as fully registered Bonds, without
<br />interest coupons, in the denomination of any integral multiple of $5,000 (an "Authorized
<br />Denomination"). As provided in the Bond Ordinance, this Bond, or any unredeemed portion
<br />hereof, may, at the request of the Registered Owner or the assignee or assignees hereof, be
<br />assigned, transferred and exchanged for a like aggregate principal amount of fully registered
<br />Bonds, without interest coupons, payable to the appropriate Registered Owner, assignee or
<br />assignees, as the case may be, having the same denomination or denominations in any integral
<br />multiple of $5,000 as requested in writing by the appropriate Registered Owner, assignee or
<br />assignees, as the case may be, upon surrender of this Bond to the Paying Agent/Registrar for
<br />cancellation, all in accordance with the form and procedures set forth in the Bond Ordinance.
<br />Among other requirements for such assignment and transfer, this Bond must be presented and
<br />surrendered to the Paying Agent/Registrar, together with proper instruments of assignment, in
<br />form and with guarantee of signatures satisfactory to the Paying Agent/Registrar, evidencing
<br />assignment of this Bond or any portion or portions hereof in any integral multiple of $5,000 to
<br />the assignee or assignees in whose name or names this Bond or any such portion or portions
<br />hereof is or are to be registered. The form of Assignment printed or endorsed on this Bond may
<br />be executed by the Registered Owner to evidence the assignment hereof, but such method is not
<br />exclusive, and other instruments of assignment satisfactory to the Paying Agent/Registrar may be
<br />used to evidence the assignment of this Bond or any portion or portions hereof from time to time
<br />by the Registered Owner. The Paying Agent/Registrar's reasonable standard or customary fees
<br />and charges for transferring and exchanging any Bond or portion thereof shall be paid by the
<br />City, but any taxes or governmental charges required to be paid with respect thereto shall be paid
<br />by the one requesting such assignment, transfer or exchange as a condition precedent to the
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<br />San Marcos GORB2019 - Delegated: Ordinance
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