|
by United States mail, first-class postage prepaid, on each such interest payment date, to the
<br />Registered Owner hereof, at its address as it appeared on the last day of the month preceding each
<br />such date (the "Record Date") on the Registration Books kept by the Paying Agent/Registrar, as
<br />hereinafter described. In addition, interest may be paid by such other method, acceptable to the Texas
<br />Water Development Board, or such other Registered Owner, requested by, and at the risk and
<br />expense of, the Registered Owner; provided, however, that if this Certificate of Obligation is owned
<br />by the Texas Water Development Board, principal and interest will be paid by wire transfer or other
<br />method acceptable to the Texas Water Development Board, and there will be no charge. In the event
<br />of a non-payment of interest on a scheduled payment date, and for 30 days thereafter, a new 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 />Issuer. Notice ofthe Special Record Date and ofthe scheduled payment date ofthe past due interest
<br />(which shall be 15 days after the Special Record Date) shall be sent at least five business days prior
<br />to the Special Record Date by United States mail, first-class postage prepaid, to the address of each
<br />owner of a Certificate appearing on the Registration Books at the close of business on the last
<br />business day next preceding the date of mailing of such notice.
<br />ANY ACCRUED INTEREST due at maturity or upon the redemption ofthis Certificate prior
<br />to maturity as provided herein shall be paid to the Registered Owner upon presentation and surrender
<br />of this Certificate for redemption and payment at the corporate trust office of the Paying
<br />Agent/Registrar. The Issuer covenants with the Registered Owner of this Certificate that on or
<br />before each principal payment date, interest payment date, and accrued interest payment date for this
<br />Certificate it will make available to the Paying Agent/Registrar, from the "Interest and Sinking Fund"
<br />created by the Certificate Ordinance, the amounts required to provide for the payment, in immediately
<br />available funds, of all principal of and interest on the Certificates, when 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 />designated 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 not
<br />such a Saturday, Sunday, legal holiday or day on which banking institutions are authorized to close;
<br />and payment on such date shall have the same force and effect as if made on the original date payment
<br />was due.
<br />THIS CERTIFICATE is one of a series of Certificates dated as of February 1, 2013,
<br />authorized in accordance with the Constitution and laws ofthe State of Texas in the principal amount
<br />of $2,900,000 to provide funds to provide funds to pay costs of improving the Issuer's potable water
<br />distribution system, to-wit: water line replacements for the Issuer's potable water distribution system
<br />and to pay legal, fiscal, engineering and architectural fees in connection with such project.
<br />ON June 15, 2023, or on any date thereafter, the Certificates having stated maturities on and
<br />after December 15, 2023, may be redeemed prior to their scheduled maturities, at the option of the
<br />Issuer, with funds derived from any available and lawful source, as a whole, or in part, and, if in part,
<br />the Issuer shall, in inverse order of maturity, select and designate the maturity or maturities and the
<br />8
<br />
|