1998-11-09-PEDC - Laserfiche WebLink

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397 drawn by the Paying Agent/Registrar on, and payable solely from, funds of the Issuer required by the Bond Resolution to be On deposit with the Paying Agent/Registrar for such purpose as herein- after provided; and such check or draft shall be sent by the Paying Agent/Registrar by United States mail, first-class postage prepaid, on each such interest payment date, to the registered owner hereof, at its address as it appeared on the 15th day of the month next preceding each such date (the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter described, or by such other method, acceptable to the Paying Agent/Registrar, requested by and at the risk and expense of the registered owner. In the event of a nonpayment of interest on a scheduled payment date, and for thirty (30) days thereafter, a new record date for such interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, if and when funds for the payment of such interest have been received from the Issuer. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five (5) business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each Bondholder appearing on the Security Register at the close of business on the last business day next preceding the date of mailing of such notice. ANY ACCRUED INTEREST due at maturity, or upon the redemption of this Bond prior to maturity as provided herein, shall be paid to the registered owner upon presentation and surrender of this Bond for payment at the principal corporate mast office of the Paying Agent/Registrar. The Issuer covenants with the registered owner of this Bond that on or before each principal payment date and interest payment date for this Bond it will make available to the Paying Agent/Registrar, from the "Debt Service Fund" created by the Bond Resolution, the amounts required to provide for the payment, in immediately available funds, of all principal of and interest on the Bonds, when due. IF THE DATE for the payment of the principal of or interest on this 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 BOND is one of an issue of Bonds initially dated as of December 1, 1998, authorized in accordance with the Constitution and laws of the State of Texas, including particularly the Act, in the original principal amount of $4,200,000 for the purpose of paying all or part of the cost of refunding the Issuers Note in the original principal amount of $4,000,000 initially issued to be loaned to Paris Packaging, Inc., which used the proceeds together with other moneys to acquire the Precision Printing Plant in Paris, Texas (the "Project") for the specific purpose of the promotion and encouragement of employment and the public welfare. ON SEPTEMBER I, 2008, or any date thereaf~er, the Bonds of this Series may be redeemed prior to their scheduled maturities, at the option of the Issuer, with funds derived from any available 9