Ord 2007-036 - Laserfiche WebLink

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Section 3 10 Successor Securities Depository: Transfer Outside Book-Entry-Only System. In the event that the City or the Paying Agent/Registrar determines that DTC is incapable of discharging its responsibihhes described herein and m the Representation Letter, and that it is m the best interest ofthe beneficial owners ofthe Bonds that they be able to obtain certificated Bonds, or m the event DTC discontinues the services described herein, the Crty or the Paying Agent/Registrar shall (i) appoint a successor securities depository, qualified to act as such under Section 17(a) of the Securities and Exchange Act of 1934, as amended, notify DTC and DTC Participants, as identified by DTC, of the appointment of such successor securities depository and transfer one or more separate Bonds to such successor securities depository or (n) notify DTC and DTC Participants, as identified by DTC, of the availability through DTC of Bonds and transfer one or more separate Bonds to DTC Participants having Bonds credited to their DTC accounts, as identified by DTC In such event, the Bonds shall no longer be restricted to being registered m the Register m the name of Cede & Co , as nominee of DTC, but may be registered m the name of the successor securities depository, or its nominee, or m whatever name or names Owners transferring or exchanging Bonds shall designate, m accordance with the provisions of this Ordinance Section 3 11 Payments to Cede & Co Notwithstanding any other provision of this Ordinance to the contrary, so long as any Bonds are registered m the name of Cede & Co , as nominee of DTC, all payments with respect to principal of, premium, if any, and interest on such Bonds, and all notices with respect to such Bonds, shall be made and given, respectively, m the manner provided m the Representation Letter ARTICLE IV REDEMPTION OF BONDS BEFORE MATURITY IV Section 4 O1 Limitation on Redemption. The Bonds shall be subject to redemption before scheduled maturity only as provided m this Article Section 4 02 Redemption of Bonds Prior to Maturity (a) Optional Redemption. (i) The Crty reserves the option to redeem the Bonds maturing on and after August 15, 2017, m whole or from time to time m part, before their scheduled maturity date, on August 15, 2016, or on any date thereafter (such redemption date or dates to be fixed by the Crty) at a price equal to the principal amount of the Bonds called for redemption plus accrued interest from the most recent interest payment date on which interest has been paid or duly provided for to the redemption date (ii) The Crty, at least forty-five (45) days before the redemption date (unless a shorter period shall be satisfactory to the Paying Agent/Registrar), shall notify the Paying Agent/Registrar of such redemption date and of the principal amount of Bonds to be redeemed. San Marcos GO 2007- Ordinance 12