Ord 2007-036 - Laserfiche WebLink

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(e) If a date for the payment of the principal of or interest on the Bonds is a Saturday, Sunday, legal holiday, or a day on which banking institutions m the city m which the Designated Payment/Transfer Office is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions are required or authorized to close, and payment on such date shall have the same force and effect as if made on the original date payment was due (f) Subject to Title 6, Texas Property Code, as amended, Unclaimed Payments remaining unclaimed for three years after the applicable payment or redemption date shall be paid by the Paying Agent/Registrar to the City, to be used for any lawful purpose Thereafter, neither the Crty, the Paying Agent/Registrar, nor any other person shall be liable or responsible to any Owners of such Bonds for any further payment of such unclaimed moneys or on account of any such Bonds, subject to any applicable escheat, abandoned property, or similar law Section 3 04 Execution and Initial Registration. (a) The Bonds shall be executed on behalf of the Crty by the Mayor and Interim Crty Clerk of the Crty, by their manual or facsimile signatures, and the official seal of the Crty shall be impressed or placed m facsimile thereon. Such facsimile signatures on the Bonds shall have the same effect as if each of the Bonds had been signed manually and m person by each of said officers, and such facsimile seal on the Bonds shall have the same effect as if the official seal of the Crty had been manually impressed upon each of the Bonds (b) In the event that any officer of the Crty whose manual or facsimile signature appears on the Bonds ceases to be such officer before the authentication of such Bonds or before the delivery thereof, such manual or facsimile signature nevertheless shall be valid and sufficient for all purposes as if such officer had remained m such office (c) Except as provided below, no Bond shall be valid or obligatory for any purpose or be entitled to any security or benefit of this Ordinance unless and until there appears thereon the Certificate of Paying Agent/Registrar substantially m the form provided m this Ordinance, duly authenticated by manual execution by an officer or duly authorized representative of the Paying Agent/Registrar It shall not be required that the same authorized representative of the Paying Agent/Registrar sign the Certificate of Paying Agent/Registrar on all of the Bonds In lieu of the executed Certificate of Paying Agent/Registrar described above, the Initial Bond delivered on the Closing Date shall have attached thereto the Comptroller's Registration Certificate substantially m the form provided m this Ordinance, manually executed by the Comptroller of Public Accounts of the State of Texas or by his duly authorized agent, which certificate shall be evidence that the Initial Bond has been duly approved by the Attorney General of the State of Texas and that rt is a valid and binding obligation of the Crty, and has been registered by the Comptroller of Public Accounts of the State of Texas (d) On the Closing Date, one Initial Bond representing the entire principal amount of the Bonds, payable in stated installments to the Purchaser or its designee, executed by manual or facsimile signature of the Mayor and Interim City Clerk of the City, approved by the Attorney General of Texas, and registered and manually signed by the Comptroller of Public Accounts ofthe State of Texas, will be delivered to the Purchaser or its designee Upon payment for the Initial Bond, the Paying Agent/Registrar shall cancel the Initial Bond and deliver to DTC on behalf of the Purchaser one registered definitive Bond for each year of maturity of the Bonds in the aggregate principal amount of all Bonds for such maturity, registered m the name of Cede & Co , as nominee for DTC To the extent that the Paying Agent/Registrar is eligible to participate m DTC's FAST San Marcos GO 2007 Ordinance 7