Ord 1972-033 - Laserfiche WebLink

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Section 6. The city Secretary shall be Registrar of the certificates and shall keep a record of same. The principal of and interest on the certificates shall be payable to the registered owner as shqwn on the records of the Registrar. The City Secretary 1 shall cause.a check or draft of the City to be issued against the qepository bank to pay the p~incipal of ,and interest on the cer- tificates as same become due. A registration legend shall appear on or be attached to each certificate and shall be in substantially the following form: Date of Registra.tion Registration Legend Registrar's Authorized Signature Registered Owner I The certificate or certificates shall not be an obligation of the City or a charge against its taxing power until initially registered ~n the ,name of the owner thereof and dated by the City Secretary, and said certificates shail be initially registered prior to their delivery to the person or firm entitled to receive them. The Registrar shall, when requested by the ~egistered owner of the certificate or his duly authorized attorney in fact~ reg- ister same in the name of a subsequent owner on the City's ~ecords of reg~stration and note same on the Registration Legend on the certificate. Section 7. That said certificates shall be signed by the I Mayor, countersigned by the City Secretary, and the seal of said City Shall be affixed to each of said certificates. Section 8. The form of said certificates shall be sub- stantiallyas follows: t' . NO. $5,000 UNITED STATES OF AMERICA STATE OF TEXAS COUNTY OF HAYS CITY OF SAN MARCOS CERTIFICATE OF OBLIGATION SERIES B OF 1972 - 3 -