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<br /> l~qT <br /> redeemed, an identification of the Bonds or portions thereof to be <br /> redeemed. <br /> (c) Any notice given as provided in this Section shall be <br /> conclusively presumed to have been duly given, whether or not the <br /> Owner receives such notice. <br /> Section 4.05. Pavrnent Upon Redemption. <br /> (a) Before or on each redemption date, the Paying <br /> Agent/Registrar shall make provision for the payment of the Bonds to <br /> be redeemed on such date by setting aside and holding in trust an <br /> amount from the Interest and Sinking Fund or otherwise received by <br /> the Paying Agent/Registrar from the City sufficient to pay the <br /> principal of, premium, if any, and accrued interest on such Bonds. <br /> (b) Upon presentation and surrender of any Bond cal1ed for <br /> redemption at the Designated Payment/Transfer Office on or after the <br /> date fixed for redemption, the Paying Agent/Registrar shall pay the <br /> principal of, premium, if any, and accrued interest on such Bond to <br /> the date of redemption from the money set aside for such purpose. <br /> Section 4.06. Effect of Redemption. <br /> (a) Notice of redemption having been ." provided in <br /> g~ven as <br /> Section 4.04 of this Ordinance, the Bonds or portions thereof called <br /> for redemption shall become due and payable on the date fixed for <br /> redemption and, unless the City defaults in the payment of the <br /> principal thereof, premium, if any, or accrued interest thereon, <br /> such Bonds or portions thereof shall cease to bear interest from and <br /> after the date fixed for redemption, whether or not such Bonds are <br /> presented and surrendered for payment on such date. <br /> (b) If any Bond or portion thereof called for redemption is <br /> not so paid upon presentation and surrender of such Bond for <br /> redemption, such Bond or portion thereof shall continue to bear <br /> interest at the rate stated on the Bond until paid or until due <br /> provision is made for the payment of same. <br /> ARTICLE V <br /> PAYING AGENT/REGISTRAR <br /> Section 5.01. Appointment of Initial PavinG Aqent/Reqistrar. <br /> (a) The City hereby appoints Ameritrust Texas National <br /> Association as its registrar and transfer agent to keep such books <br /> or records and make such transfers and registrations under such <br /> reasonable regulations as the City and the Paying Agent/Registrar <br /> may prescribe; and the Paying Agent/Registrar shall make such <br /> 4579f <br /> -16- <br />