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HomeMy WebLinkAbout0128_0027Section 6 ADDITIONAL CHARACTERISTICS OF THE BONDS Registration and Transfer (a) The Issuer shall keep or cause to be kept at the principal corporate trust office of First City National Bank of Austin Austin Texas (the Paying Agent/Registrar ) books or records of the registration and transfer of the Bonds (the Registration Books ) and the Issuer hereby appoints the Paying Agent/Registrar as its regis- trar and transfer agent to keep such books or records and make such transfers and registrations under such reasonable regula- tions as the Issuer and Paying Agent/Registrar may prescribe and the Paying Agent/Registrar shall make such transfers and registrations as herein provided The Paying Agent/Registrar shall obtain and record in the Registration Books the address of the registered owner of each Bond to which payments with respect to the Bonds shall be mailed as herein provided but it shall be the duty of each registered owner to notify the Paying Agent/Registrar in writing of the address to which payments shall be mailed and such interest payments shall not be mailed unless such notice has been given The Issuer shall have the right to inspect the Registration Books during regular business hours of the Paying Agent/Registrar but otherwise the Paying Agent/Registrar shall keep the Registration Books confidential and unless otherwise required by law shall not permit their inspection by any other entity Registration of each Bond may be transferred in the Registration Books only upon presentation and surrender of such Bond to the Paying Agent/Registrar for transfer of registration and cancellation together with proper written instruments of assignment in form and with guarantee of signatures satisfactory to the Paying Agent/Rdgistrar (i) evidencing the assignment of the Bond or any portion thereof in any integral multiple of $5 000 to the assignee or assignees thereof and (ii) the right of such assignee or assignees to have the Bond or any such portion thereof registered in the name of such assignee or assignees Upon the assignment and transfer of any Bond or any portion thereof a new substitute Bond or Bonds shall be issued in conversion and exchange therefor in the manner herein provided The Initial Bond to the extent of the unpaid or unredeemed principal balance thereof may be assigned and transferred by the initial registered owner thereof once only and to one or more assignees designated in writing by the initial registered owner thereof All Bonds issued and delivered in conversion of and exchange for the Initial Bond shall be in any denomination or denominations of any integral multiple of $5 000 (subject to the requirement hereinafter stated that each substitute Bond shall have a single stated principal maturity date) shall be in the form prescribed in the FORM OF SUBSTITUTE BOND set forth in this Ordinance and shall have the characteristics and may be assigned transferred and converted as hereinafter pro- vided If the Initial Bond or any portion thereof is assigned and transferred or converted the Initial Bond must be surren- dered to the Paying Agent/Registrar for cancellation and each Bond issued in exchange for any portion of the Initial Bond shall have a sinale stated principal maturity date and shall not be payable in installments and each such Bond shall have a principal maturity date corresponding to the due date of the installment of principal or portion thereof for which the substitute Bond is being exchanged and each such Bond shall bear interest at the single rate applicable to and borne by such installment of principal or portion thereof for which it is being exchanged If only a portion of the Initial Bond is assigned and transferred there shall be delivered to and registered in the name of the initial registered owner substi- tute Bonds in exchange for the unassigned balance of the Initial Bond in the same manner as if the initial registered owner were the assignee thereof If any Bond or portion thereof other than the Initial Bond is assigned and transferred or converted each Bond issued in exchange therefor shall have the same principal maturity date and bear interest at the same 7 28'