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<br /> INTEREST INTEREST
<br />YEARS AMOUNTS RATES YEARS AMOUNTS RATES
<br />2001 $150,000 2011 $175,000
<br />2002 150,000 2012 175,000
<br />2003 150,000 2013 175,000
<br />2004 150,000 2014 175,000
<br />2005 150,000 2015 175,000
<br />2006 150,000 2016 175,000
<br />2007 150,000 2017 175,000
<br />2008 150,000 2018 175,000
<br />2009 150,000 2019 175,000
<br />2010 150,000 2020 175,000
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<br />Said interest shall be payable in the manner provided and on the dates stated in the FORM OF BOND set forth in
<br />this Ordinance.
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<br />Section 3. CHARACTERISTICS OF THE BONDS. (a) Ree:istration. Transfer. and Exchane:e:
<br />Authentication. The City shall keep or cause to be kept at the principal corporate trust office of Chase Bank of
<br />Texas, National Association, Houston, Texas (the "Paying Agent/Registrar") books or records for the registration of
<br />the transfer and exchange of the Bonds (the "Registration Books"), and the City hereby appoints the Paying
<br />Agent/Registrar as its registrar and transfer agent to keep such books or records and make such registrations of
<br />transfers and exchanges under such reasonable regulations as the City and Paying Agent/Registrar may prescribe;
<br />and the Paying Agent/Registrar shall make such registrations, transfers, and exchanges as herein provided. The
<br />Mayor and the City Secretary are authorized to enter into a Paying Agent/Registrar Agreement substantially in the
<br />form of Exhibit "A", attached hereto. The Paying Agent/Registrar shall obtain and record in the Registration Books
<br />the address of the registered owner of each Bond to which payments with respect to the Bonds shall bemailed.as
<br />herein provided; but it shall be the duty of each registered owner to notify the Paying Agent/Registrar in writing of
<br />the address to which payments shall be mailed, and such interest payments shall not be mailed unless such notice
<br />has been given. To the extent possible and under reasonable circumstances, all transfers of Bonds shall be made
<br />within three business days after request and presentation thereof. The City shall have the right to inspect the
<br />Registration Books during regular business hours of the Paying Agent/Registrar, but otherwise the Paying
<br />Agent/Registrar shall keep the Registration Books confidential and, unless otherwise required by law, shall not
<br />permit their inspection by any other entity. The Paying Agent/Registrar's standard or customary fees and charges
<br />for making such registration, transfer, exchange and delivery of a substitute Bond or Bonds shall be paid as provided
<br />in the FORM OF BOND set forth in this Ordinance. Registration of assignments, transfers, and exchanges of Bonds
<br />shall be made in the manner provided and with the effect stated in the FORM OF BOND set forth in this Ordinance.
<br />Each substitute Bond shall bear a letter and/or number to distinguish it from each other Bond.
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<br />Except as provided in (c) below, an authorized representative of the Paying Agent/Registrar shall, before
<br />the delivery of any such Bond, date and manually sign the Paying Agent/Registrar's Authentication Certificate, and
<br />no such Bond shall be deemed to be issued or outstanding unless such Certificate is so executed. The Paying
<br />Agent/Registrar promptly shall cancel all paid Bonds and Bonds surrendered for transfer and exchange. No
<br />additional ordinances, orders, or resolutions need be passed or adopted by the governing body of the City or any
<br />other body or person so as to accomplish the foregoing transfer and exchange of any Bond or portion thereof, and
<br />the Paying Agent/ Registrar shall provide for the printing, execution, and delivery of the substitute Bonds in the
<br />manner prescribed herein, and said Bonds shall be of type composition printed on. paper of customary weight and
<br />strength. Pursuant to Chapter 1201, Texas Government Code, as amended, the duty of transfer and exchange of
<br />Bonds as aforesaid is hereby imposed upon the Paying AgentlRegistrar, and, upon the execution of said certificate,
<br />the transferred and exchanged Bond shall be valid, incontestable, and enforceable in the same manner and with the
<br />same effect as the Bonds which initially were issued and delivered pursuant to this Ordinance, approved by the
<br />Attorney General, and registered by the Comptroller of Public Accounts.
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<br />(b) Payment of Bonds and Interest. The City hereby further appoints the Paying Agent/Registrar to act as
<br />the paying agent for paying the principal of and interest on the Bonds, all as provided in this Ordinance. The Paying
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