|
<br />of twelve 30-day months, such interest to be paid semiannually on February 15 and August 15 of each year,
<br />commencing February 15,2002.
<br />
<br />The principal of this Certificate shall be payable without exchange or collection charges in lawful
<br />money of the United States of America upon presentation and surrender of this Certificate at the corporate
<br />trust office in Dallas, Texas (the "Designated Payment/Transfer Office"), of the Paying Agent/Registrar
<br />executing the registration certificate appearing hereon, or, with respect to a successor Paying
<br />Agent/Registrar, at the Designated Payment/Transfer Office of such successor. Interest on this Certificate
<br />is payable by check dated as of the interest payment date, mailed by the Paying Agent/Registrar to the
<br />registered owner at the address shown on the registration books kept by the Paying Agent/Registrar or by
<br />such other customary banking arrangements acceptable to the Paying Agent/Registrar, requested by, and at
<br />the risk and expense of, the person to whom interest is to be paid. For the purpose of the payment of interest
<br />on this Certificate, the registered owner shall be the person in whose name this Certificate is registered at
<br />the close of business on the "Record Date," which shall be the last business day of the month next preceding
<br />such interest payment date; provided, however, that in the event of nonpayment of interest on a scheduled
<br />interest payment date, and for 30 days thereafter, a new record date for such interest payment (a "Special
<br />Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such
<br />interest have been received from the City. Notice of the Special Record Date and of the scheduled payment
<br />date of the past due interest (the "Special Payment Date", which shall be 15 days after the Special Record
<br />Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first
<br />class postage prepaid, to the address of each registered owner of a Certificate appearing on the books of the
<br />Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing such
<br />notice.
<br />
<br />If a date for the payment of the principal of or interest on the Certificates is a Saturday, Sunday, legal
<br />holiday, or a day on which banking institutions in the city in which the Designated Payment/Transfer Office
<br />is located are authorized by law or executive order to close, then the date for such payment shall be the next
<br />succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions
<br />are authorized to close; and payment on such date shall have the same force and effect as if made on the
<br />original date payment was due.
<br />
<br />This Certificate is one of a series of fully registered certificates of obligation specified in the title
<br />hereof issued in the aggregate principal amount of $8,025,000 (herein referred to as the "Certificates"),
<br />issued pursuant to a certain Ordinance of the City Council of the City (the "Ordinance"), for the public
<br />purpose of paying contractual obligations to be incurred for constructing, reconstructing and improving
<br />streets, including related sidewalks, signage, lighting, signalization, drainage and utility relocations and
<br />acquisition of real property and interests in real property for such purposes; acquisition of green space land
<br />for the San Marcos Regional Park Preserve Project; and preparation of a transportation master plan.
<br />
<br />The Certificates and the interest thereon are payable from the levy of a direct and continuing ad
<br />valorem tax, within the limit prescribed by law, against all taxable property in the City and by a limited
<br />pledge of certain Surplus Revenues of the City's waterworks and wastewater system, all as provided in the
<br />Ordinance.
<br />
<br />The City has reserved the option to redeem the Certificates maturing on and after August 15,2012,
<br />before their respective scheduled maturity in whole or in part in integral multiples of$5,000 on August 15,
<br />20 II, or on any date thereafter, at a price equal to the principal amount of the Certificates so called for
<br />redemption plus accrued interest to the redemption date. If less than all of the Certificates are to be
<br />
<br />R.5AN MA R\CQ,O I \Docs\Ordinancefn, \vpel
<br />
<br />17
<br />
|