O-1985-1470 - Laserfiche WebLink

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. e Section 5. That the City reserves the right to redeem, in whole or from time to time in part, all of the Bonds maturing in the years 1996 through 2005 on March 15, 1995, or any interest payment date thereafter, by paying the principal thereof and accrued interest thereon. The City shall, at least forty-five (45) days prior to the date fixed for redemption (unless a shorter notice shall be satisfactory to the Paying Agent/Registrar), notify the Paying Agent/ Registrar of such date and the principal amount of Bonds of each maturity to be redeemed. If less than all of the Bonds are to be redeemed, the particular Bonds within any particu- lar maturity (in integral multiples of $5,000) shall be selected by the Paying Agent/Registrar by such method as it shall deem fair and appropriate. The registered owner of any Bond, all or a portion of which has been called for redemption, shall be required to present such Bond to the Paying Agent/Registrar for payment of the principal of and accrued interest on that portion of the Bond called for redemption; provided, however, upon the surrender of any such Bond, the City shall execute and the Paying Agent/ Registrar shall authenticate and deliver to the registered owner thereof a new Bond or Bonds of the same maturity in an aggregate principal amount equal to the unredeemed portion of the Bond surrendered. Notice of redemption shall be given by mailing a copy thereof by registered or certified mail at least thirty (30) days prior to the date fixed for redemption to the registered owner of each Bond to be redeemed in whole or in part at the address of such owner on the registration books; provided, however, that failure to give such notice, or any defect therein, shall not affect the validity of the proceedings for the redemption of any Bond or portion thereof with respect to which no such failure or defect has occurred. Any notice mailed as provided in this Section 5 shall be conclusively presumed to have been duly given, whether or not the registered owner receives the notice. Prior to the date fixed for redemption, the City shall deposit, or cause to be deposited, with the Paying Agent/Registrar funds sufficient to pay in full the principal of ~ll Bonds or portions thereof called for redemption, together with accrued interest thereon to the redemption date. Any Bond or Bonds duly called for redemp- tion, due provision for the full payment of which has been timely made, shall cease to bear interest from and after the date fixed for redemption. Section 6. That the City shall cause to be kept at the principal office of the Paying AgentlRegistrar a register (the "Bond Register") in which, subject to such reasonable regulations as the City and the Paying Agent/ Registrar may prescribe, registration of the Bonds and transfers of the Bonds shall be made as provided herein. Upon surrender for transfer of any Bond at the principal office of the Paying AgentlRegistrar, the City shall execute and the Paying Agent/Registrar shall authenticate and deliver, in the name of the designated transferee or trans- ferees, one or more new Bonds of the same maturity, of any authorized denominations, bearing the same rate of interest and of a like aggregate principal amount. At the option of the registered owner of any Bond, it may be exchanged for other Bonds of the same maturity, of any authorized denomin- ations, bearing the same rate of interest, and of like aggregate principal amount, upon surrender of the Bond to be exchanged at the principal office of the Paying Agent/Regi- strar. Whenever any Bond is so surrendered for exchange, the City shall execute, and the Paying Agent/Registrar shall authenticate and deliver, the Bonds which the registered owner of the Bond making the exchange is entitled to receive. RG04lRI180BOl -3-