Ord 1993-037 - Laserfiche WebLink

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) J.. c¡ 61'1 The City may decide to discontinue use of the system of book-entry transt~rs through DTC (or a successor securities depository). ìn Ù1at event, Bonds will be printed and delivered. Use of Certain Ten/Is in Other Sections of this Official Statement. In reading this Official Statement it should be understood that while the Bonds are in the Book-Entry-Only System, references in other sections of this Official Statement to registered owners should be read to include the person for which the Participant acquires an interest in the Bonds. but (i) all rig.f1.ts of ownership must be exercised through DTC and the Book-Entry-Only System, and (ü) except as described above, notices that are to be given to registered owners under the Ordinance will be given only to DTC. Information concerning DTC and the Book-Entry-Only System has been obtained from DTC and is not guaranteed as to accuracy or completeness by, and is not to be construed as a representation by the City or the Underwriters. Paying Agent/Registrar The initial Paying AgentfRegÍstrar is Ameritrust Texas National Association. Interest on and prim:ipal of the Bonds will be payable and transfer functions will be performed in the corporate trust office of the Paying Agent/Registrar in Dallas, Texas (the "D~ignated Payment/Transfer Office"). In the Ordinance, the City retains the right to replace the Paying AgentfRegistrar. The City covenants to maintain and provide a Paying Agent/Registrar at all times while the Bonds are outstanding and any successor Paying Agent/Registrar shall be a commercial bank or trust company organized under the laws of the State of Texas or other entity duly qualiti",d and legally authorized to serve as and perform the duties and services of Paying AgentfRegistrar for the Bonds. Upon any change in the Paying AgentfRegistrar for the Bonds, the City agrees to promptly cause a written notice thereof to be sent to each registered owner of the Bonds by United States mail, first-class, postage prepaid. which notice shall also give the address of the new Paying Agent/Registrar. In the event the Book-Entry-Only System should be discontinued, principal of the Bonds will be payable to the registered owner at maturity or prior redemptIon upon presentation at the Paying Agent/Registrar office. Interest on the Bl)nds will be payable by check, dated as of the interest payment date, and mailed by the Paying Agent/Registrar to registered l)WnerS as shown nn the records of the Paying Agent/Registrar on the Record Date (see "Record Date for Interest Payment" herein). nr by such l)ther method. acceptable to the Paying AgentfRegistrar, requested by, and at the risk and expense of, the registered owner. If the dat.: for the payment of the principal of or inter.:st on the Bc)nds shall be a Saturday, Sunday, legal holiday. or dáy on which banking institutions in the city where the Paying Agent/Rtigistrar is located are located are authonzed by law ür èxecutive order to close, then the date tor such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions an: authoriz.::d to close: and payment on such date shall have the sam.:: túrc.:: and effect as if made on the original date payment was due, Transfer, Exchange and Regü;tration [n th.:: .:vent the Book-Entry-Only System should be discontinued, the Bonds may be transferred and exchanged un the ægistration books of the Paying Agent/Registrar only upon presentation and surrender thereof to the Paying Agent/Registrar at the Paying Agent /Registrar office and such transf.::r or exchange shall he without .::xpense or service charge tü the registered ,)wner, except for any tax or other governmental charges required to be paid with respèct to such registration, exchange and transt~r. A Bond may be assigned by the .::xecution of an assignment form on the Bond or by other instrument of transfer and assignment acceptab!.:: to the Paying AgentfRegistrar. A new Bond ()r Bonds will b", delivered by the Paying Agent/Registrar, in lieu l)f the Bond being transt~rred or exchanged, at the principal oftìce of the Paying Agent/Registrar, or sent hy United States mail, first-class. postage prepaid. to the new registered owner or his designee. To the extent possible, new Bonds issued in an exchange or transfer of Bonds will be delivered to the registered owner or assignee of th", registered owner in not more than three business days after the receipt of the Bonds to be cancelled. and the written instrument of transfer or request for exchangè duly executed by the registered owner or his duly authorized agent, in form satisfadory to the Paying AgenURègistrar. New Bonds registered and delivered in an exchange or transfer shall be in any integral multip!.:: of $5,000 fM anyone maturity and tor a like aggregate principal amount as the Bond or Bonds surrendered for exchang.:: or transfer. See "Book-Entry-Only System" herein for a description of the system to be utilized initially in regard to ownership and transt~rability of the Bonds. Limitation on Transfer of Bonds Called for Redemption Neither the City nor the Paying Agent/Registrar shall be required to transfer or exchange to an assignee of the own.::r of the Bonds any Bond called for redemption, in whole or in part, within 45 days of the date fixed for redemption; provided, however, such limitation of transfer shall not be app[icab!.:: to an exchange by the registered owner of the uncalled halanc.: of a Bond. 10