O-2005-2858 - Laserfiche WebLink

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pertinent records and proceedings to the Attorney General for examination and approval. After the Obligations to be initially issued shall have been approved by the Attorney General, they shall be delivered to the Comptroller for registration. Upon registration of the Obligations to be initially issued, the Comptroller (or a deputy lawfully designated in writing to act for the Comptroller) shall manually sign the Comptroller's registration certificate prescribed herein to be affixed or attached to the Obligations to be initially issued, and the seal of said Comptroller shall be impressed, or placed in facsimile, thereon. ARTICLE VI CONCERNING THE PAYING AGENT/REGISTRAR Section 6.1: Acceptance. Wachovia Bank, National Association, Austin, Texas, is hereby appointed as the initial Paying AgentlRegistrar for the Obligations pursuant to the terms and provisions of the Paying AgentlRegistrar Agreement by and between the City and the Paying AgentlRegistrar. The Paying AgentlRegistrar Agreement shall be substantially in the form attached hereto as Exhibit C, the terms and provisions of which are hereby approved, and the Mayor is hereby authorized to execute and deliver such Paying AgentlRegistrar Agreement on behalf of the City in multiple counterparts and the City Secretary is hereby authorized to attest thereto and affix the City's seal. Such initial Paying AgentlRegistrar and any successor Paying AgentlRegistrar, by undertaking the performance of the duties of the Paying AgentlRegistrar hereunder, and in consideration of the payment of any fees pursuant to the terms of any contract between the Paying AgentlRegistrar and the City and/or the deposits of money pursuant to this Ordinance, shall be deemed to accept and agree to abide by the terms of this Ordinance. Section 6.2: Trust Funds. All money transferred to the Paying AgentlRegistrar in its capacity as Paying AgentlRegistrar for the Obligations under this Ordinance (except any sums representing Paying AgentlRegistrar's fees) shall be held in trust for the benefit of the City, shall be the property of the City and shall be disbursed in accordance with this Ordinance. Section 6.3: Obligations Presented. Subject to the provisions of Section 6.4, all matured Obligations presented to the Paying AgentlRegistrar for payment shall be paid without the necessity of further instructions from the City. Such Obligations shall be canceled as provided herein. Section 6.4: Unclaimed Funds Held by the Paying AgentlRegistrar. Funds held by the Paying AgentlRegistrar that represent principal of and interest on the Obligations remaining unclaimed by the Registered Owner thereof after the expiration of three years from the date such funds have become due and payable (a) shall be reported and disposed of by the Paying AgentlRegistrar in accordance with the provisions of Title 6 of the Texas Property Code, as amended, to the extent such provisions are applicable to such funds, or (b) to the extent such provisions do not apply to the funds, such funds shall be paid by the Paying AgentlRegistrar to the City upon receipt by the Paying AgentlRegistrar of a written request therefor from the City. The Paying AgentlRegistrar shall have no liability to the Registered Owners of the Obligations by virtue of actions taken in compliance with this Section. 11 HOU:2516661.4