O-1986-1497 - Laserfiche WebLink

Browse Search

.. . . hereby made to the Bond Ordinance for a description of the covenants by which the Bonds are secured, the respective rights thereunder of the registered owners of the Bonds and the City, and the terms upon which the Bonds are, and are to be, authenticated and delivered. The City has reserved the right to redeem, in whole or from time to time in part, all of the Bonds matur- ing in the years 1997 through 2005 on February 15, 1996, or any interest payment date thereafter, by paying the princi- pal thereof and accrued interest thereon. If less than all of the Bonds of any particular maturity are to be redeemed, the City shall designate the principal amount of Bonds of each maturity to be redeemed and the Paying Agent/Registrar shall designate the particular Bonds within such maturity in integral multiples of $5,000. At least thirty (30) days' prior notice of any such redemption shall be given by mail as provided in the Bond Ordinance. Any Bond or Bonds duly called for redemption, due provision for the full payment of which has been timely made, shall cease to bear interest from and after the date fixed for redemption. As provided in the Bond Ordinance and subject to certain limitations therein set forth, this Bond is trans- ferable on the Bond Register of the City, upon surrender of this Bond for transfer at the principal office of the Paying Agent/Registrar, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Paying Agent/Registrar duly executed by, the registered owner hereof or his attorney duly authorized in writing, and thereupon one or more new fully registered Bonds of the same 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. Similarly, this Bond may be exchanged for a like aggregate principal amount of fully registered Bonds of other autho- rized denominations of the same maturity and bearing the same rate of interest. Neither the City nor the Paying Agent/Registrar shall be required (1) to transfer or exchange this Bond during the period of fifteen (15) calendar days next preced- ing any interest payment date or (2) to transfer or exchange this Bond during the thirty (30) day period prior to the date fixed for the redemption of this Bond. .. The City, the Paying Agent/Registrar and any agent of either of them may treat the person, firm or corporation in whose name this Bond is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes, whether or not this Bond be overdue, and neither the City, the Paying Agent/Registrar nor any such agent shall be affected by notice or knowledge to the contrary. It is hereby certified, covenanted and represented that all acts, conditions, and things required to exist or to be performed or done precedent to or in the issuance of this Bond in order to render the same a legal, valid and binding obligation of the City have been performed, exist and have been done in regular and due time, form and manner, as required by law, and that the issuance of the Bonds does not exceed any constitutional or statutory limitation. This Bond shall be construed in accordance with and shall be governed by the laws of the State of Texas. * * * * * * * * * * RG047B/180BOl -6-