Ord 2012-014 - Laserfiche WebLink

Home Browse Search

Ordinance is not required to be, and shall not be, authenticatede Paying Agent/Registrar, but on each substitute Bond issued in exchange for any Bond issued urdinance the Paying Agent/Registrar shall execute the PAYING AGENT/REGISTRAR'S AUTHEICATION CERTIFICATE, in the form set forth in the FORM OF BONDS. On the ng date, the initial Bond representing the entire principal amount of the Bonds, payable the underwriter, executed by manual or facsimile signature of the Mayor and City Clerk, approved by the Attorney General of Texas, and registered and manually signed by the Comptroller of Public Accounts of the State of Texas, and with the date of delivery inserted thereon by the Paying Agent/Registr, will be delivered to the underwriter. (d) Substitute Paying Agent/Registrar. The City covenants with the Registered Owners of the Bonds that at all times while the Bonds are outstanding the ll provide a competent and legally qualified bank, trust company, financial institution, or other agency to act as and perform the services of Paying Agent/Registrar for the Bonds under this Ordie, and that the Paying Agent/Registrar will be one entity. The City reserves the right may, at its option, change the Paying Agent/Registrar upon not less than 30 days written notice to the Paying Agent/Registrar, to be effective at such time which will not disrupt or delay paymenhe next principal or interest payment date after such notice. In the event that the entity atny time acting as Paying Agent/Registrar (or its successor by merger, acquisition, or other method) should resign or otherwise cease to act as such, the City covenants that promptly it will appoint a competent and legally qualified bank, trust company, financial institution, or other agency to act as Paying Agent/Registrar under this Ordinance. Upon any change in the Paying Agent/Registrar, the ping Agent/Registrar promptly shall transfer and deliver the Register (or a copy ther), along with all other pertinent Bonds and records relating to the Bonds, to the new Paying Agentstrar designated and appointed by the City. Upon any change in the Paying Agent/Regi the City promptly will cause a written notice thereof to be sent by the new Paying Agent/Registrar to each Registered Owner of the Bonds, by United States mail, first-class postage prepaid, wich notice also shall give the address of the new Paying Agent/Registrar. By accepting the position anrforming as such, each Paying Agent/Registrar shall be deemed to have agreed to the provisions this Ordinance, and a certified copy of this Ordinance shall be delivered to each Paying Agent/Registrar. (e) Book-Entry-Only System. The Bonds issued in exchange fitially issued as provided in Section 6(i) shall be issued in the form of a separate single fully registered Bond for each of the maturities thereof registered in the name of Cede & o., as nominee of the Depository Trust Company of New York ("DTC") and except as provided in subson (f) hereof, all of the outstanding Bonds shall be registered in the name of Cede & Co.,ee of DTC. With respect to Bonds registered in the name of Cede & Co., as ninee of DTC, the City and the Paying Agent/Registrar shall have no responsibility or oigation to any securities brokers and dealers, banks, trust companies, clearing corporations and certain other organizations on whose behalf DTC was created to hold securities to facilitate the clearance and settlement of securities transactions among DTC participants (the "DTC Participant") or to any person ehalf of whom such a DTC Participant holds an interest in the Bonds. Without limiting thediately preceding sentence, the 7 San Marcos GORB 2012 - Delegated: Ordinance