Ord 2011-057 - Laserfiche WebLink

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due. Notwithstanding the foregoing, during any period in which ownership of the Bonds is determined only by a book entry at a securities depository for the Bonds, any payment to the securities depository, or its nominee or registered assigns, shall be made in accordance with existing arrangements between the City and the securities depository. [FORM OF REMAINDER OF EACH BOND] IF THE DATE for the payment of the principal of or interest on this Bond shall be a Saturday, Sunday, legal holiday, or day on which banking institutions in the city where the principal office for payment of the Paying Agent/Registrar is located are authorized by law or executive order to close, or the United States Postal Service is not open for business (each a "Non- Business Day "), then the date for such payment shall be the next succeeding day which is not a Non - Business Day, and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS BOND is one of a series of Bonds dated as of * and authorized to be issued pursuant to the Bond Ordinance adopted by the City Council of the City in the principal amount of $ * [constituting $ Current Interest Bonds and $ Premium Compound Interest Bonds]* for the purpose of providing funds for (i) refunding the Refunded Obligations and (ii) paying the costs of issuing the Bonds. ON * OR ON ANY DATE THEREAFTER, the Bonds maturing on and after * may be redeemed prior to their scheduled maturities, at the option ofthe City, with funds derived from any available and lawful source, at a redemption price equal to the principal amount to be redeemed plus accrued interest to the date fixed for redemption as a whole, or from time to time in part, and, if in part, the particular Bonds, or portions thereof, to be redeemed shall be selected and designated by the City, and if less than all of a maturity is to be redeemed the Paying Agent/Registrar shall determine by lot the Bonds, or portions thereof within such maturity to be redeemed (provided that a portion of a Bond may be redeemed only in integral multiples of $5,000 of principal amount). [THE BONDS MATURING ON * are subject to mandatory sinking fund redemption by lot prior to maturity in the following amounts on the following dates and at a price of par plus accrued interest to the redemption date ( "Term Bonds "). Term Bonds Maturing on , 20 Redemption Date—* 20 20t Final Ma t urity Principal Amount $ t *To be included only if Current Interest Bonds and Premium Compound Interest Bonds are both issued and completed as determined in the Pricing Certificate. *To be completed as determined in the Pricing Certificate. San Marcos GORB 2011 - Delegated: Ordinance 12