Laserfiche WebLink
transferred or converted, each Bond issued in exchange therefor shall have the same principal <br />maturity date and bear interest at the same rate as the Bond for which it is being exchanged. Each <br />substitute Bond shall bear a letter and/or number to distinguish it from each other Bond. The Paying <br />Agent/Registrar shall convert and exchange or replace Bonds as provided herein, and each fully <br />registered bond delivered in conversion of and exchange for or replacement of any Bond or portion <br />thereof as permitted or required by any provision of this Ordinance shall constitute one of the Bonds <br />for all purposes of this Ordinance, and may again be converted and exchanged or replaced. It is <br />specifically provided that any Bond authenticated in conversion of and exchange for or replacement <br />of another Bond on or prior to the first scheduled Record Date for the Initial Bond shall bear interest <br />from the date of delivery of the Initial Bond, but each substitute Bond so authenticated after such <br />first scheduled Record Date shall bear interest from the interest payment date next preceding the date <br />on which such substitute Bond was so authenticated, unless such Bond is authenticated after any <br />Record Date but on or before the next following interest payment date, in which case it shall bear <br />interest from such next following interest payment date; provided, however, that if at the time of <br />delivery of any substitute Bond the interest on the Bond for which it is being exchanged is due but <br />has not been paid, then such Bond shall bear interest from the date to which such interest has been <br />paid in full. THE INITIAL BOND issued and delivered pursuant to this Ordinance is not required <br />to be, and shall not be, authenticated by the Paying Agent/ Registrar, but on each substitute Bond <br />issued in conversion of and exchange for or replacement of any Bond or Bonds issued under this <br />Ordinance there shall be printed a certificate, in the form substantially as follows: <br />"PAYING AGENT/REGISTRAR'S AUTHENTICATION CERTIFICATE <br />It is hereby certified that this Bond has been issued under the provisions of the Bond <br />Ordinance described on the face of this Bond; and that this Bond has been issued in conversion of <br />and exchange for or replacement of a bond, bonds, or a portion of a bond or bonds of an issue which <br />originally was approved by the Attorney General of the State of Texas and registered by the <br />Comptroller of Public Accounts of the State of Texas. <br />Paying Agent/Registrar <br />Dated <br />Authorized Representative" <br />By <br />An authorized representative of the Paying Agent/Registrar shall, before the delivery of any such <br />Bond, date and manually sign the above Certificate, and no such Bond shall be deemed to be issued <br />or outstanding unless such Certificate is so executed. The Paying Agent/Registrar promptly shall <br />cancel all Bonds surrendered for conversion and exchange or replacement. No additional <br />ordinances, orders, or resolutions need be passed or adopted by the governing body of the Issuer or <br />any other body or person so as to accomplish the foregoing conversion and exchange or replacement <br />of any Bond or portion thereof, and the Paying Agent/Registrar shall provide for the printing, execu- <br />tion, and delivery of the substitute Bonds in the manner prescribed herein, and said Bonds shall be <br />of type composition printed on paper with lithographed or steel engraved borders of customary <br />