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<br />Agent/ Registrar shall keep proper records of all payments made by the City and the Paying Agent/Registrar with
<br />respect to the Bonds.
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<br />(c) In General. The Bonds (i) shall be issued in fully registered form, without interest coupons, with the
<br />principal of and interest on such Bonds to be payable only to the registered owners thereof, (ii) may be redeemed
<br />prior to their scheduled maturities, (iii) may be transferred and assigned, (iv) may be exchanged for other Bonds, (v)
<br />shall have the characteristics, (vi) shall be signed, sealed, executed, and authenticated, (vii) shall have the principal
<br />of and interest on the Bonds be payable, and (viii) shall be administered and the Paying AgentlRegistrar and the City
<br />shall have certain duties and responsibilities with respect to the Bonds, all as provided, and in the manner and to the
<br />effect as required or indicated, in the FORM OF BOND set forth in this Ordinance. The Initial Bond shall be
<br />delivered to the initial purchaser and are not required to be, and shall not be, authenticated by the Paying
<br />AgentlRegistrar, but on each substitute Bond issued in exchange for the Initial Bonds or any Bond or Bonds issued
<br />under this Ordinance the Paying AgentlRegistrar shall execute the PA YING AGENT/REGISTRAR'S
<br />AUTHENTICATION CERTIFICATE, in the form set forth in the FORM OF BOND.
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<br />(d) Substitute Paving AgentlRegistrar. The City covenants with the registered owners of the Bonds that at
<br />all times while the Bonds are outstanding the City will provide a competent and legally qualified bank, trust
<br />company, financial institution, or other agency to act as and perform the services of Paying AgentlRegistrar for the
<br />Bonds under this Ordinance, and that the Paying AgentlRegistrar will be one entity. The City reserves the right to,
<br />and may, at its option, change the Paying Agent/Registrar upon not less than 120 days written notice to the Paying
<br />AgentlRegistrar, to be effective not later than 60 days prior to the next principal or interest payment date after such
<br />notice. In the event that the entity at any time acting as Paying Agent/Registrar (or its successor by merger,
<br />acquisition, or other method) should resign or otherwise cease to act as such, the City covenants that promptly it will
<br />appoint a competent and legally qualified bank, trust company, financial institution, or other agency to act as Paying
<br />AgentlRegistrar under this Ordinance. Upon any change in the Paying AgentlRegistrar, the previous Paying
<br />AgentlRegistrar promptly shall transfer and deliver the Registration Books (or a copy thereof), along with all other
<br />pertinent books and records relating to the Bonds, to the new Paying Agent/Registrar designated and appointed by
<br />the City. Upon any change in the Paying Agent/Registrar, the City promptly will cause a written notice thereof to be
<br />sent by the new Paying AgentlRegistrar to each registered owner of the Bonds, by United States mail, first-class
<br />postage prepaid, which notice also shall give the address of the new Paying Agent/ Registrar. By accepting the
<br />position and performing as such, each Paying Agent/Registrar shall be deemed to have agreed to the provisions of
<br />this Ordinance, and a certified copy of this Ordinance shall be delivered to each Paying Agent/Registrar.
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<br />Section 4. FORM OF BONDS. The form of the Bonds, including the Form of Paying AgentlRegistrar's
<br />Authentication Certificate, the Form of Assignment, [the Form of Statement of Insurance,] and the Form of
<br />Registration Certificate of the Comptroller of Public Accounts of the State of Texas to be attached to the Bonds
<br />initially issued and delivered pursuant to this Ordinance, shall be, respectively, substantially as follows, with such
<br />appropriate variations, omissions, or insertions as are permitted or required by this Ordinance.
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<br />FORM OF BOND
<br />
<br />[Form of Front Panel of Definitive Bond]
<br />
<br />NO.R-
<br />
<br />United States of America
<br />State of Texas
<br />CITY OF LA PORTE, TEXAS
<br />GENERAL OBLIGATION BOND,
<br />SERIES 2000
<br />
<br />PRINCIPAL
<br />AMOUNT
<br />$
<br />
<br />INTEREST RATE
<br />
<br />MA ruRITY DATE
<br />
<br />ISSUE DATE
<br />March 15, 2000
<br />
<br />CUSIP NO.
<br />
<br />REGISTERED OWNER:
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