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(d) In the event that any such mutilated, lost, apparently destroyed or wrongfully taken <br />Certificate has become or is about to become due and payable, the Paying Agent/Registrar, in its <br />discretion, instead of issuing a replacement Certificate, may pay such Certificate if it has become due <br />and payable or may pay such Certificate when it becomes due and payable. <br />(e) Each replacement Certificate delivered in accordance with this Section shall constitute <br />an original contractual obligation of the City and shall be entitled to the benefits and security of this <br />Ordinance to the same extent as the Certificate in lieu of which such replacement Certificate is <br />delivered. <br />ARTICLE IV <br />PREPAYMENT OF CERTIFICATE BEFORE MATURITY <br />Section 4.01. Limitation on Prepayment. <br />The Certificate shall be subject to prepayment before scheduled maturity only as provided in <br />this Article IV. <br />Section 4.02. Optional Prepayment. <br />(a) The City reserves the option to prepay the Certificate as provided in the Form of <br />Certificate. <br />(b) The City, at least forty-five (45) days before the prepayment date (unless a shorter <br />period shall be satisfactory to the Paying Agent/Registrar), shall notify the Paying Agent/Registrar <br />of such prepayment date and of the principal amount of the Certificate to be prepaid. <br />Section 4.03. Notice of Prepayment to Owners. <br />(a) The Paying Agent/Registrar shall give notice of any prepayment of the Certificate by <br />sending notice by United States mail, first class postage prepaid, not less than thirty (30) days before <br />the date fixed for prepayment, to the Owner of each Certificate (or part thereof) to be prepaid, at the <br />address shown on the Register. <br />(b) The notice shall state the prepayment date, the prepayment price, the place at which <br />the Certificate is to be surrendered for payment, and, if less than all of the Certificate outstanding is <br />to be prepaid, an identification of the installments of the Certificate to be prepaid. <br />(c) Any notice given as provided in this Section shall be conclusively presumed to have <br />been duly given, whether or not the Owner receives such notice. <br />San Marcos CTRCO 2008A: Ordinance 12