|
<br />
<br />
<br />
<br />
<br />
<br /> - THE INSTALLMENTS OF PRINCIPAL OF AND THE INTEREST ON this
<br /> Certificate of Obligation are payable in lawful money of the United States of America,
<br /> without exchange or collection charges. The installments of the principal of and the interest
<br /> on this Certificate of Obligation are payable to the registered owner hereof through the
<br /> services of NCNB Texas National Bank, Dallas, Texas, which is the "Paying Agent/Registrar"
<br /> for this Certificate of Obligation. Payment of all principal of and interest on this Certificate
<br /> of Obligation shall be made by the Paying Agent/Registrar to the registered owner hereof
<br /> on each principal and/or interest payment date by check or draft, dated as of such date,
<br /> drawn by the Paying Agent/Registrar on, and payable solely from, funds of the Issuer
<br /> required by the order authorizing the issuance of this Certificate of Obligation (the
<br /> "Certificate of Obligation Ordinance") to be on deposit with the Paying Agent/Registrar for
<br /> such purpose as hereinafter provided; and such check or draft shall be sent by the Paying
<br /> Agent/Registrar by United States mail, first class postage prepaid, on each such principal
<br /> and/or interest payment date, to the registered owner hereof, at the address of the registered
<br /> owner, as it appeared on the last business day of the month next preceding each such date
<br /> (the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as
<br /> hereinafter described, or by such other method acceptable to the Paying Agent/Registrar,
<br /> requested by, and at the risk and expense of the registered owner. The Issuer covenants
<br /> with the registered owner of this Certificate of Obligation that on or before each principal
<br /> and/or interest payment date for this Certificate of Obligation it will make available to the
<br /> Paying Agent/Registrar, from the "Interest and Sinking Fund" created by the Certificate of
<br /> Obligation Ordinance, the amounts required to provide for the payment, in immediately
<br /> available funds, of all principal of and interest on this Certificate of Obligation, when due.
<br />
<br /> IF THE DATE for the payment of the principal of or interest on this Certificate of
<br /> Obligation shall be a Saturday, Sunday, a legal holiday, or a day on which banking
<br /> institutions in the city where 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
<br /> which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are
<br /> authorized to close; and payment on such date shall have the same force and effect as if
<br /> made on the original date payment was due.
<br /> THIS CERTIFICATE OF OBLIGATION has been authorized in accordance with
<br /> the Constitution and laws of the State of Texas in the aggregate principal amount of
<br /> $3,300,000, for paying, in whole or in part, contractual obligations for improving and
<br /> extending the City's combined Waterworks and Sewer System, and for paying all or a portion
<br /> of the legal, fiscal and engineering fees in connection with this project; and
<br />
<br /> THE UNPAID INSTALLMENTS of principal of this Certificate of Obligation may
<br /> be prepaid or redeemed prior to their scheduled due dates, at the option of the Issuer, on
<br /> any date from October 15, 1991 to June 15, 1992, and on any date from June 15, 2001 and
<br /> thereafter, with funds derived from any available source, as a whole, or in part, and, if in
<br /> part, the Issuer shall select and designate the maturity, or maturities, and the amount that
<br />
<br />
<br />
<br /> 4
<br />
|