Ord 2007-036 - Laserfiche WebLink

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The Bonds and the interest thereon are payable from the levy of a direct and continuing ad valorem tax, wrthm the limits prescribed by law, against all taxable property m the City The Crty has reserved the option to redeem the Bonds maturing on and after August 15, 2017, before their respective scheduled maturity m whole or from time to time m part m integral multiples of $5,000 on August 15, 2016, or on any date thereafter, at a price equal to the principal amount of the Bonds so called for redemption plus accrued interest to the redemption date If less than all of the Bonds are to be redeemed, the City shall determine the amounts thereof to be redeemed and shall duect the Paying Agent/Registrar to call by lot Bonds, or portions thereof wrthm such maturity or maturities and m such amounts, for redemption. Notice of such redemption or redemptions shall be sent by United States mail, first-class postage prepaid, not less than 30 days before the date fixed for redemption, to the registered owner of each ofthe Bonds to be redeemed m whole or m part. Notice having been so green, the Bonds or portions thereof designated for redemption shall become due and payable on the redemption date specified m such notice, and from and after such date, notwithstanding that any of the Bonds or portions thereof so called for redemption shall not have been surrendered for payment, interest on such Bonds or portions thereof shall cease to accrue As provided m the Ordinance, and subject to certain lrmrtations therein set forth, this Bond is transferable upon surrender of this Bond for transfer at the Designated Payment/Transfer Office, with such endorsement or other evidence of transfer as rs acceptable to the Paying Agent/Registrar, and, thereupon, one or more new fully registered Bonds of the same stated maturity, of authorized denominations, bearing the same rate of interest, and for the same aggregate principal amount will be issued to the designated transferee or transferees Neither the City nor the Paying Agent/Regrstrar shall be required to transfer or exchange any Bond called for redemption, m whole or m part, within 45 days of the date fixed for redemption, provided, however, such limitation shall not be applicable to an exchange by the Owner of the uncalled balance of a Bond. The City, the Paying Agent/Registrar, and any other person may treat the person m whose name this Bond rs registered as the owner hereof for the purpose of receiving payment as herein provided (except interest shall be paid to the person m whose name this Bond rs registered on the Record Date or Special Record Date, as applicable) and for all other purposes, whether or not this Bond be overdue, and neither the City nor the Paying Agent/Registrar shall be affected by notice to the contrary IT IS HEREBY CERTIFIED AND RECITED that the issuance of this Bond and the serves of which rt rs a part rs duly authorized by law; that all acts, conditions and things required to be done precedent to and rn the issuance of the Bonds have been properly done and performed and have happened rn regular and due time, form and manner, as required by law; and that the total indebtedness of the Crty, including the Bonds, does not exceed any constitutional or statutory limitation. IN WITNESS WHEREOF, this Bond has been duly executed on behalf of the Crty, under its official seal, in accordance with law San Marcos GO 2007 Ordinancz 1 t~