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Certificates exchanged therefor, as well as all other substitute Certificates and replacement <br /> Certificates issued pursuant hereto. <br /> SECTION 3. INTEREST. The Certificates scheduled to mature during the years, <br /> respectively, set forth below shall bear interest from the dates specified in the FORM OF <br /> CERTIFICATE set forth in this Ordinance to their respective dates of maturity at the following <br /> rates per annum: <br /> YEAR RATE YEAR RATE <br /> 2024 2034 <br /> 2025 2035 <br /> 2026 2036 <br /> 2027 2037 <br /> 2028 2038 <br /> 2029 2039 <br /> 2030 2040 <br /> 2031 2041 <br /> 2032 2042 <br /> 2033 2043 <br /> Interest shall be payable in the manner provided and on the dates stated in the FORM OF <br /> CERTIFICATE set forth in this Ordinance. <br /> Section 4. CHARACTERISTICS OF THE CERTIFICATES. (a) Registration, <br /> Transfer, Conversion and Exchange; Authentication. The City shall keep or cause to be kept at <br /> Regions Bank, Houston, Texas (the "Paying Agent/Registrar") books or records for the <br /> registration of the transfer, conversion and exchange of the Certificates (the "Registration <br /> Books"), and the City hereby appoints the Paying Agent/Registrar as its registrar and transfer <br /> agent to keep such books or records and make such registrations of transfers, conversions and <br /> exchanges under such reasonable regulations as the City and Paying Agent/Registrar may <br /> prescribe; and the Paying Agent/Registrar shall make such registrations, transfers, conversions <br /> and exchanges as herein provided. The Paying Agent/Registrar shall obtain and record in the <br /> Registration Books the address of the Registered Owner of each Certificate to which payments <br /> with respect to the Certificates shall be mailed, as herein provided; but it shall be the duty of <br /> each Registered Owner to notify the Paying Agent/Registrar in writing of the address to which <br /> payments shall be mailed, and such interest payments shall not be mailed unless such notice has <br /> been given. The City shall have the right to inspect the Registration Books during regular <br /> business hours of the Paying Agent/Registrar, but otherwise the Paying Agent/Registrar shall <br /> keep the Registration Books confidential and, unless otherwise required by law, shall not permit <br /> their inspection by any other entity. The Paying Agent/Registrar shall make the Registration <br /> Books available within the State of Texas. The City shall pay the Paying Agent/Registrar's <br /> standard or customary fees and charges for making such registration, transfer, conversion, <br /> exchange and delivery of a substitute Certificate or Certificates. Registration of assignments, <br /> transfers, conversions and exchanges of Certificates shall be made in the manner provided and <br /> with the effect stated in the FORM OF CERTIFICATE set forth in this Ordinance. Each <br /> substitute Certificate shall bear a letter and/or number to distinguish it from each other <br /> Certificate. <br /> SAN MARCOS\CTRCO2023C: Ordinance <br />