|
Certificate. The payment of interest on this Certificate shall be made by the Paying Agent/Registrar
<br />to the registered owner hereof on each interest payment date by check or draft, dated as of such
<br />interest payment date, drawn by the Paying Agent/Registrar on, and payable solely from, funds of
<br />the City required by the ordinance authorizing the issuance of this Certificate (the "Certificate
<br />Ordinance") to be on deposit with the Paying Agent/Registrar for such purpose as hereinafter
<br />provided; and such check or draft shall be sent by the Paying Agent/Registrar by United States
<br />mail, first-class postage prepaid, on each such interest payment date, to the registered owner
<br />hereof, at its address as it appeared on the last business day of the month preceding each such date
<br />(the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as hereinafter
<br />described. In addition, interest may be paid by such other method, acceptable to the Paying
<br />Agent/Registrar, requested by, and at the risk and expense of, the registered owner. In the event
<br />of a non-payment of interest on a scheduled payment date, and for 30 days thereafter, anew record
<br />date for such interest payment (a "Special Record Date") will be established by the Paying
<br />Agent/Registrar, if and when funds for the payment of such interest have been received from the
<br />City. Notice of the Special Record Date and of the scheduled payment date of the past due interest
<br />(which shall be 15 days after the Special Record Date) shall be sent at least five business days
<br />prior to the Special Record Date by United States mail, first-class postage prepaid, to the address
<br />of each owner of a Certificate appearing on the Registration Books at the close of business on the
<br />last business day next preceding the date of mailing of such notice.
<br />ANY ACCRUED INTEREST due at maturity or upon the redemption of this Certificate
<br />prior to maturity as provided herein shall be paid to the registered owner upon presentation and
<br />surrender of this Certificate for redemption and payment at the principal corporate trust office of
<br />the Paying Agent/Registrar. The City covenants with the registered owner of this Certificate that
<br />on or before each principal payment date, interest payment date, and accrued interest payment date
<br />for this Certificate it will make available to the Paying Agent/Registrar, from the "Interest and
<br />Sinking Fund" created by the Certificate Ordinance, the amounts required to provide for the
<br />payment, in immediately available funds, of all principal of and interest on the Certificates, when
<br />due.
<br />IF THE DATE for the payment of the principal of or interest on this Certificate shall be a
<br />Saturday, Sunday, a legal holiday or a day on which banking institutions in the city where the
<br />principal corporate trust office of the Paying Agent/Registrar is located are authorized by law or
<br />executive order to close, then the date for such payment shall be the next succeeding day that is
<br />not such a Saturday, Sunday, legal holiday or day on which banking institutions are authorized to
<br />close; and payment on such date shall have the same force and effect as if made on the original
<br />date payment was due.
<br />THIS CERTIFICATE is dated April 1, 2024, and is authorized in accordance with the
<br />Constitution and laws of the State of Texas in the principal amount of $42,790,000 for paying all
<br />or a portion of the City's contractual obligations incurred in connection with (i) the acquisition,
<br />construction, installation and equipment of additions, improvements and extensions to the City's
<br />waterworks and sewer system (the "System") and (ii) paying legal, fiscal and engineering fees in
<br />connection with such projects, including paying the costs of issuance of the Certificates.
<br />ON JUNE 15, 2033 or any date thereafter, the Certificates of this series may be redeemed
<br />prior to their scheduled maturities, at the option of the City, with funds derived from any available
<br />and lawful source, as a whole, or in part, and, if in part, the particular Certificates, or portions
<br />thereof, to be redeemed shall be selected and designated by the City (provided that a portion of a
<br />A-2
<br />
|