HomeMy WebLinkAbout0105_0004Paying 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 BOND has been authorized in accordance with the
Constitution and laws of the State of Texas for the purpose of
providing $1,000,000 for the purpose of constructing and im-
proving the City's streets and drainage in connection there-
with; $535,000 for the purpose of renovating a Fire Station and
permanently equipping same; and $250,000 for the purpose of
renovating and constructing a Police Station building.
ON AUGUST 1, 1994, or on any interest payment date there-
after, the unpaid installments of principal of this Bond may be
prepaid or redeemed prior to their scheduled due dates, at the
option of the Issuer, with funds derived from any available
source, as a whole, or in part, and, if in part, the Issuer
shall select and designate the maturity, or maturities, and the
amount that is to be redeemed, and if less than a whole matur-
ity
aturity is to be called, the Issuer shall direct the Paying Agent/
Registrar to call by lot (provided that a portion of this Bond'
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 re-
demption. At least 30 days prior to the date fixed for any
such prepayment or redemption a written notice of such prepay-
ment or redemption shall be mailed by the Paying Agent/Regis
trar to the registered owner hereof. By the date fixed for any
such prepayment or redemption due provision shall be made by
the Issuer with the Paying Agent/Registrar for the payment of
the required prepayment or redemption price for this Bond or
the portion hereof which is to be so prepaid or redeemed, plus
accrued interest thereon to the date fixed for prepayment or
redemption. If such written notice of prepayment or redemption
is given, and if due provision for such payment is made, all as
provided above, this Bond, or the portion thereof which is to
be so prepaid or redeemed, thereby automatically shall be
treated as prepaid or redeemed prior to its scheduled due date,
-
and shall not bear interest after the date fixed for its pre-
payment or redemption, and shall not be regarded as being out-
standing except for the right of the registered owner to re-
ceive the prepayment or redemption price plus accrued interest
to the date fixed for prepayment or redemption from the Paying
Agent/Registrar out of the funds provided for such payment.
The Paying Agent/Registrar shall record in the Registration
Books all such prepayments or redemptions of principal of this
Bond or any portion hereof.
TH13 BOND, to the extent of the unpaid or unredeemed prin-
cipal balance hereof, or any unpaid and unredeemed portion
hereof in any integral multiple of $5,000, may -be assigned by
the initial registered owner hereof and shall be transferred
only in the Registration Books of the IsL3uer kept by the Paying
Agent/Registrar acting in the capacity of registrar for the
Bonds, upon the terms and conditions set forth in the Bond
Ordinance. Among other requirements for such transfer, this
Bond must be presented and surrendered to the Paying Agent/Reg
istrar for cancellation, together with proper instruments of
assignment, in form and with guarantee of signatures satisfac-
tory to the Paying Agent/Registrar, , evidencing assignment by
the initial registered owner of this Bond, or any portion or
portions hereof in any integral multiple of $S,000, to the
assignee or assignees in whose name or names this Bond or any
such portion or portions hereof is or are to be transferred and
registered. Any instrument or instruments of assignment
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