HomeMy WebLinkAbout0008_0006IF THE DATE for the payment of the 'principal of or Inter-
est on' -thio Bond shall be a Saturday, Sunday, a legal holiday,
or a day on which banking institutions 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„ BONDhas been authorized in accordance with the
Constitution and laws of the State of' Texas for the purpose of
improving and extending the Issuer's Waterworks System, to -wit:.
Water Treatment Plant and Transmission Lines.
ON AUGUST 15, 199', 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 is-.
aturity-is-. to be redeemed, the: Issuer shall direct the Paying
Agent/Registrar tocall by lot (provided that a portion of this
Bond may be redeemed only in an integral multiple of -$5,000),
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 mailedby 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.
THIS BOND, to the extent of the unpaid or unredeemed prin-
cipal balance ,hereof, or ar?y unpaid. and 'unredeemed portion
hereof in any 4ntegral multiple of $5,000, may be assigned by
the initial registered owner hereof 'and�shall be b transferred
only in the Registration Books of the Issuer 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 Ord-
inance. Among other •requirements`for such transfer, this Bond
must be'presented and surrendered to the Paying Agent/Registrar
for cancellation, together with proper 'instruments of assign-
ment,' in form and'with guarantee of signatures satisfactory to
the Paying Agent/Registrar, evidencing assignment by the ini-
tial registered owner of this`Band, - or any portion or portions
hereof in any integral multipleof $5,000, to the assignee or
assignees in whose name or names this Bond or any such portion
or portions hereof '4s'�or'`are 'to"be -transferred and _registered.
Any instrument or instruments of assignment satisfactory to the
Faying Agent/Registrar may La used to evidence the assignment
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