|
transfers, conversions, and exchanges as herein provided. The Paying Agent/Registrar shall
<br /> obtain and record in the Registration Books the address of the Registered Owner of each Certificate
<br /> to which payments with respect to the Certificates shall be mailed, as herein provided; but it shall
<br /> be the duty of each Registered Owner to notify the Paying Agent/Registrar in writing of the address
<br /> to which payments shall be mailed, and such payments shall not be mailed unless such notice has
<br /> been given. To the extent possible and under reasonable circumstances, all transfers of
<br /> Certificates shall be made within three business days after request and presentation thereof. The
<br /> City shall have the right to inspect the Registration Books during regular business hours of the
<br /> 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. The Paying Agent/Registrar's standard or customary fees and charges for making
<br /> such registration, transfer, conversion, exchange, and delivery of a substitute Certificate or
<br /> Certificates shall be paid as provided in the FORM OF CERTIFICATE set forth in this Ordinance.
<br /> Registration of assignments, transfers, conversions, and exchanges of Certificates shall be made
<br /> in the manner provided and with the effect stated in the FORM OF CERTIFICATE set forth in
<br /> this Ordinance. Each substitute Certificate shall bear a letter and/or number to distinguish it from
<br /> each other Certificate.
<br /> Except as provided in Section 5(c), an authorized representative of the Paying Agent/Regi-
<br /> strar shall, before the delivery of any such Certificate, date and manually sign the Paying
<br /> Agent/Registrar's Authentication Certificate, and no such Certificate shall be deemed to be issued
<br /> or outstanding unless such Certificate is so executed. The Paying Agent/Registrar promptly shall
<br /> cancel all paid Certificates and Certificates surrendered for conversion and exchange. No addi-
<br /> tional ordinances, orders, or resolutions need be passed or adopted by the governing body of the
<br /> City or any other body or person so as to accomplish the foregoing conversion and exchange of
<br /> any Certificate or portion thereof, and the Paying Agent/Registrar shall provide for the printing,
<br /> execution, and delivery of the substitute Certificates in the manner prescribed herein, and said
<br /> Certificates shall be of type composition printed on paper with lithographed or steel engraved
<br /> borders of customary weight and strength. Pursuant to Chapter 1201, Texas Government Code, as
<br /> amended and particularly Subchapter D thereof, the duty of conversion and exchange of
<br /> Certificates as aforesaid is hereby imposed upon the Paying Agent/Registrar, and, upon the
<br /> execution of said Certificate,the converted and exchanged Certificate shall be valid, incontestable,
<br /> and enforceable in the same manner and with the same effect as the Certificates which initially
<br /> were issued and delivered pursuant to this Ordinance, approved by the Attorney General, and
<br /> registered by the Comptroller of Public Accounts.
<br /> (b) Payment of Certificates and Interest. The City hereby further appoints the Paying
<br /> Agent/Registrar to act as the paying agent for paying the principal of and interest on, if any, the
<br /> Certificates, all as provided in this Ordinance. The Paying Agent/Registrar shall keep proper
<br /> records of all payments made by the City and the Paying Agent/Registrar with respect to the
<br /> Certificates, and of all conversions and exchanges of Certificates, and all replacements of
<br /> Certificates, as provided in this Ordinance. However, in the event of a nonpayment of interest, if
<br /> any, on a scheduled payment date, and for 30 days thereafter, a new record date for such interest
<br /> payment ("Special Record Date") will be established by the Paying Agent/Registrar, if and when
<br /> funds for the payment of such interest have been received from the City. Notice of the Special
<br /> Record Date and of the scheduled payment date of any past due interest (which shall be 15 days
<br /> after the Special Record Date) shall be sent at least five business days prior to the Special Record
<br /> 4
<br /> SAN MARCOS(TWDB)CTRCO 2023&2023A:Ordinance($4,060k000)
<br />
|