HomeMy WebLinkAbout0149_148/4
IF THE DATE for the payment of the principal of or inter-
est on this Certificate of Obligation shall be a Saturday,
Sunday, a legal holiday, or a day on which banking institu-
tions in the City where the Paying Agent/Registrar is located
are authorized by law or executive order to close, then the
date for such payment shall be the next succeeding day which
is not such a Saturday, Sunday, legal holiday, or day on which
banking institutions are authorized to close; and payment on
such date shall have the same force and effect as if made on
the original date payment was due.
THIS CERTIFICATE OF OBLIGATION has been authorized in
accordance with the Constitution and laws of the State of
Texas for the purchase of right-of-way for streets; to -wit:
Leander Road and Lakeway Drive, and to pay all or a portion of
the engineering, legal and fiscal fees in connection with this
project.
ON JUNE 1, 1986, or on the 1st day of each month
thereafter, the principal of this Certificate of Obligation
may be prepaid or redeemed prior to its -scheduled due date, at
the option of the Issuer, with funds derived from any
available source, as a whole, or in part, and, if in part, the
particular portion of this Certificate of Obligation to be
prepaid or redeemed shall be selected and designated by the
Issuer (provided that a portion of this Certificate of
Obligation may be redeemed only in an integral multiple of
$5,000), at the prepayment or redemption price of the
principal amount thereof, plus accrued interest to the date
fixed for prepayment or redemption. At least 20 days prior to
the date fixed for any redemption of Certificates of
Obligation prior to maturity a written notice of such redemp-
tion shall be given by the Issuer to the Paying
Agent/Registrar, and the Paying Agent/Registrar shall send a
copy of such notice by United States Mail, first-class postage
prepaid, not less than 15 days prior to the date fixed for any
such redemption, to the registered owner of each Certificate
of Obligation to be redeemed at its address as it appeared on
the 20th day prior to such redemption date; provided, however,
that the failure to send, mail, or receive such notice, or any
defect therein or in the sending or mailing thereof, shall not
affect the validity or effectiveness of the proceedings for
the redemption- of any Certificate of Obligation, and it is
hereby specifically provided that the giving of notice by the
Issuer to the Paying Agent/Registrar as required above shall
be the only notice actually required in connection with or as
a prerequisite to the redemption .of any Certificates of
Obligation. By the date fixed for any such redemption due
provision shall be made with the Paying Agent/Registrar for
the payment of the required redemption price for the
Certificates of Obligation which are to be so redeemed, plus
accrued interest thereon to the date fixed for redemption. If
such written notice of redemption is given .to the Paying
Agent/Registrar and if due provision for such payment is made,
all as provided above, the Certificates of Obligation which
are to be so redeemed thereby automatically shall be treated
as redeemed prior to their scheduled maturities, and they
shall not bear interest after the date fixed for redemption,
and they shall not be regarded as being outstanding except for
the right of the registered owner to receive the redemption
price plus accrued interest from the Paying Agent/Registrar
out of the funds provided for such payment.
THIS CERTIFICATE OF OBLIGATION OR ANY PORTION OR PORTIONS
HEREOF IN ANY INTEGRAL MULTIPLE OF $5,000 may be assigned and
shall be transferred only in the Registration Books of the
Issuer kept by the Paying Agent/Registrar acting in the
capacity of registrar for the Certificates of Obligation, upon
the terms and conditions set forth in the Certificate of