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trust pursuant to the provisions of this Section for the payment of principal of the Bond and premium,
<br />if any, and interest thereon, shall be applied to and used solel payment of the particular Bond
<br />and premium, if any, and interest thereon, with respect to which such money or Defeasance Securities
<br />have been so set aside in trust. Until all Defeased Bonds shall become due and payable, the
<br />Paying Agent/Registrar shall perform the services of Paying Agenrar for such Defeased Bonds
<br />the same as if they had not been defeased, and the City shall maper arrangements to provide
<br />and pay for such services as required by this Ordinance.
<br />(d) Notwithstanding anything elsewhere in this Ordinance, if mon or Defeasance Securities
<br />have been deposited or set aside with the Paying Agent/Registrar or an eligible trust company or
<br />commercial bank pursuant to this Section for the payment of the Bond and such Bond shall not have
<br />in fact been actually paid in full, no amendment of the provisiof this Section shall be made without
<br />the consent of the registered owner of each Bond affected thereby.
<br />(e) Notwithstanding the provisions of subsection (a) immediately above, to the extent that,
<br />upon the defeasance of any Defeased Bond to be paid at its maturity retains the right under
<br />Texas law to later call that Defeased Bond for redemption in accordance with the provisions of this
<br />Ordinance, the City may call such Defeased Bond for redemption upon complying with the provisions
<br />of Texas law and upon the satisfaction of the provisions of subs (a) immediately above with
<br />respect to such Defeased Bond as though it was being defeased atime of the exercise of the
<br />option to redeem the Defeased Bond and the effect of the redemptn is taken into account in
<br />determining the sufficiency of the provisions made for the paymehe Defeased Bond.
<br />.
<br />Section 10. DAMAGED, MUTILATED, LOST, STOLEN, OR DESTROYED BOND
<br />(a) Replacement Bonds. In the event any outstanding Bond is damaged, mutilated, lost, stolen, or
<br />destroyed, the Paying Agent/Registrar shall cause to be printed,xecuted, and delivered, a new Bond
<br />of the same principal amount, maturity, and interest rate, as the damaged, mutilated, lost, stolen, or
<br />destroyed Bond, in replacement for such Bond in the manner hereided.
<br />(b) Application for Replacement Bonds. Application for replacef damaged, mutilated,
<br />lost, stolen, or destroyed Bonds shall be made by the Registered Owner thereof to the Paying
<br />Agent/Registrar. In every case of loss, theft, or destruction o the Registered Owner
<br />applying for a replacement bond shall furnish to the City and toing Agent/Registrar such
<br />security or indemnity as may be required by them to save each of harmless from any loss or
<br />damage with respect thereto. Also, in every case of loss, theft, or destruction of a Bond, the
<br />Registered Owner shall furnish to the City and to the Paying Agent/Registrar evidence to their
<br />satisfaction of the loss, theft, or destruction of such Bond, asse may be. In every case of
<br />damage or mutilation of a Bond, the Registered Owner shall surreto the Paying Agent/Registrar
<br />for cancellation the Bond so damaged or mutilated.
<br />(c) No Default Occurred. Notwithstanding the foregoing provisions of this Section, in the
<br />event any such Bond shall have matured, and no default has occurhich is then continuing in the
<br />payment of the principal of, redemption premium, if any, or inte on the Bond, the City may
<br />authorize the payment of the same (without surrender thereof except in the case of a damaged or
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<br />San Marcos GORB 2012 - Delegated: Ordinance
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