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(b) If any Certificate or portion thereof called for redemption is not so paid upon <br />presentation and surrender of such Certificate for redemption, such Certificate or portion thereof <br />shall continue to bear interest at the rate stated on the Certificate until paid or until due provision is <br />made for the payment of same. <br />Section 4.07. Conditional Notice of Redemption. <br />With respect to any optional redemption of the Certificates, unless certain prerequisites to <br />such redemption require by this have been met and the moneys sufficient to pay the principal of and <br />premium, if any, and interest on the Certificates to be redeemed shall have been received by the <br />Paying Agent /Registrar prior to the giving of such notice of redemption, such notice shall state that <br />said redemption may, at the option of the City, be conditional upon the satisfaction of such <br />prerequisites and receipt of such moneys by the Paying Agent /Registrar on or prior to the date fixed <br />for such redemption, or upon any prerequisite set forth in such notice of redemption. If a conditional <br />notice of redemption is given and such prerequisites to the redemption and sufficient moneys are not <br />received, such notice shall be of no force and effect, the City shall not redeem such Certificates and <br />the Paying Agent/Registrar shall give notice, in the manner in which the notice of redemption was <br />given, to the effect that the Certificates have not been redeemed. <br />ARTICLE V <br />PAYING AGENT /REGISTRAR <br />Section 5.01. Appointment of Initial Paying_A en. t�/Re is�trar_. <br />(a) The City hereby appoints Regions Bank, as its registrar and transfer agent to keep <br />such books or records and make such transfers and registrations under such reasonable regulations <br />as the City and the Paying Agent /Registrar may prescribe; and the Paying Agent/Registrar shall make <br />such transfer and registrations as herein provided. It shall be the duty of the Paying Agent /Registrar <br />to obtain from the Owners and record in the Register the address of such Owner of each Certificate <br />to which payments with respect to the Certificates shall be mailed, as provided herein. The City or <br />its designee shall have the right to inspect the Register during regular business hours of the Paying <br />Agent /Registrar, but otherwise the Paying Agent /Registrar shall keep the Registration Books <br />confidential and, unless otherwise required by law, shall not permit their inspection by any other <br />entity. <br />(b) The City hereby further appoints the Paying Agent /Registrar to act as the paying <br />agent for paying the principal of and interest on the Certificates. The Paying Agent /Registrar shall <br />keep proper records of all payments made by the City and the Paying Agent /Registrar with respect <br />to the Certificates, and of all conversions, exchanges and replacements of such Certificates, as <br />provided in this Ordinance. <br />(c) The Paying Agent/Registrar Agreement by and between the City and the Paying <br />Agent/Registrar ( "Paying Agent Agreement ") in substantially the form and substance previously <br />San Marcos CTRCO 2013: Ordinance 18 <br />