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i 1 1 <br /> .r i t <br /> The Bonds shall bear an original issue date which shall <br /> be the first day of the month in which the Bonds are delivered to <br /> the purchaser or purchasers thereof, and each Bond shall also bear <br /> the date of its authentication. Any Bond authenticated on or <br /> before June 15, 1993, shall pay interest from its original issue <br /> date. Any Bond authenticated thereafter shall pay interest from <br /> the Interest Payment Date next preceding the date of authentication <br /> of such Bond to which interest thereon has been paid or duly <br /> provided for, unless such Bond is authenticated after the fifteenth <br /> (15th) day of the month immediately preceding an Interest Payment <br /> Date and on or before such Interest Payment Date, in which case <br /> interest thereon shall be paid from such Interest Payment Date. <br /> Principal of and redemption premium, if any, on the Bonds <br /> shall be payable at the office of the Paying Agent, as defined and <br /> described herein. All payments of interest on the Bonds shall be <br /> paid by check or draft mailed or delivered one business day prior <br /> to such payment date by the Paying Agent to the registered owner <br /> thereof at the address as it appears on the registration books kept <br /> by the Registrar, as defined and described herein, as of the <br /> fifteenth (15th) day of the month immediately preceding the <br /> Interest Payment Date or at such other address as may be provided <br /> to the Paying Agent in writing by such registered owner. All <br /> payments of the Bonds shall be made in any coin or currency of the <br /> United States of America which, on the dates of such payments, <br /> shall be legal tender for the payment of public and private debts. <br /> Section 5. Registrar and Paying Agent. A registrar and <br /> a paying agent for the Bonds (the "Registrar" and the "Paying <br /> Agent") shall be appointed by the Controller and approved by the <br /> Board. The Controller is hereby authorized and directed to <br /> formulate and distribute a request for proposals with regard to the <br /> services of registrar and paying agent. The Registrar and Paying <br /> Agent shall be charged with and shall by appropriate agreement <br /> undertake the performance of all of the duties and responsibilities <br /> customarily associated with each such position, including without <br /> limitation, the authentication of the Bonds. The Controller is <br /> further authorized and directed to enter into such agreements and <br /> understandings with the Registrar and Paying Agent as will enable <br /> and facilitate the performance of its duties and responsibilities, <br /> and is authorized and directed to pay such fees as the Registrar <br /> and Paying Agent may reasonably charge for its services in such <br /> capacity, with such fees to be paid from the Bond and Interest <br /> Account as described in this Ordinance. <br /> The Registrar and Paying Agent may at any time resign as <br /> Registrar and Paying Agent upon giving thirty (30) days' notice in <br /> writing to the City and by first-class mail to each registered <br /> owner of the Bonds then outstanding, and such resignation will take <br /> effect at the end of such thirty (30) days or upon the earlier <br /> appointment of a successor Registrar and Paying Agent by the City. <br /> Any such notice to the City may be served personally or sent by <br /> 4 <br />