O-1954-467 - Laserfiche WebLink

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. . e . ......_-......... ~ The City of La Porte reserves the right to redeem, in whole or in part, all bonds of this issue on June 1, 1974, or on any interest payment date thereafter, by paying to the owners or holders of said bonds a sum equal topar plus accrued interest on the bonds called for redemption. If the City elects to redeem any of said bonds, notice thereof in writing shall be mailed, properly stamped and addressed, to the bank at which said bonds are payable and shall be published at least one (1) time in a financial journal published in New ..' ~_.-......., e, '.:::: York, New York and of general circulation in the United States of America, and said notice shall be mailed and published at least thir.ty (30) days before the date fixed for redemption. ~fuen said bonds have been called for redemption and due pro- vision has been made to redeem the same as herein provided, the right of the owners or holders to collect interest \'lhich \'l1ou1d otherwise accrue shall be terminated as of the date fixed for redemption. Section 3: That ~aid bonds shall bear interest at the rate . of four per cent (4%) per annum, interest payable December 1, 1954 and semi~annua11y thereafter on June 1st and December 1st of each year until the principal sum is paid. Both principal " of and interest on said bonds shall be payable in lawful money -', of the United States 'qf ~erica at the First National Bank:, '-... - La Porte, Texas, upon presentation and surrender of the bonds as they become due, or as to 'interest falling due on and prior to maturity, upon presentation and sur~ender of the interest coupons attached to said bonds as they become due. .