|
<br />.
<br />
<br />e
<br />
<br /> MATURITY DATE: MARCH 15
<br /> INTEREST INTEREST
<br />YEAR AMOUNTS RATES YEAR AMOUNTS RATES
<br />1992 $100,000 8.50% 2002 $100,000 7.00%
<br />1993 100,000 8.50% 2003 100,000 7.00%
<br />1994 100,000 8.50% 2004 100,000 7.00%
<br />1995 100,000 8.50% 2005 100,000 7.00%
<br />1996 100,000 8.50% 2006 100,000 7.00%
<br />1997 100,000 8.50% 2007 100,000 7.25%
<br />1998 100,000 8.50% 2008 125,000 7.25%
<br />1999 100,000 8.50% 2009 125,000 7.25%
<br />2000 100,000 7.50% 2010 125,000 7.25%
<br />2001 100,000 7.00% 2011 125,000 7.25%
<br />
<br />Such interest shall be payable on March 15, 1991, and semiannually thereafter on
<br />September 15 and March 15. Said interest shall be payable to the registered owner of any such
<br />Bond in the manner provided in the FORM OF BONDS set forth in this Ordinance.
<br />
<br />SECllON 3. RIGHT OF PRIOR REoBMP110N. The City reserves the right to redeem the Bonds
<br />maturing on or after March 15, 2002, in whole or in part in principal amounts of $5,000 or any
<br />integral multiple thereof, on March 15, 2001, or any date thereafter, at the par value thereof plus
<br />accrued interest to the date fIxed for redemption. If less than all of the Bonds are to be redeemed
<br />by the City, the City shall determine the maturity or maturities and the amounts thereof to be
<br />redeemed and shall direct the Paying AgentlRegistrar to call by lot Bonds, or portions thereof,
<br />within such maturity or maturities and in such principal amounts, for redemption.
<br />
<br />Notice of such redemption shall be given as provided in the FORM OF BOND in
<br />Section 5 hereof. If such notice of redemption is given, and if due provision for such payment is
<br />made, the Bonds, or the portions thereof which are to be so redeemed, thereby automatically shall
<br />be redeemed prior to their scheduled maturities, and shall not bear interest after the date fIXed for
<br />their redemption, and shall not be regarded as being outstanding except for the right of the
<br />registered owner to receive the redemption price plus accrued interest to the date fixed for
<br />redemption from the Paying Agent/Registrar out of the funds provided for such payment. The
<br />Paying AgentlRegistrar shall record in the Registration Books all such redemptions of principal of
<br />the Bonds or any portion thereof. By the date fIXed for any such redemption due provision shall
<br />be made by the City with the Paying AgentlRegistrar for the payment of the required redemption
<br />price for the Bonds or the portions thereof which are to be so redeemed, plus accrued interest
<br />thereon to the date fixed for redemption. If such notice of redemption is given, and if due '
<br />provision for such payment is made, all as provided above, the Bonds, or the portions thereof
<br />which are to be so redeemed, thereby automatically shall be redeemed prior to their scheduled
<br />maturities, and shall not bear interest after the date fixed for their redemption, and shall not be
<br />regarded as being outstanding except for the right of the registered owner to receive the
<br />redemption price plus accrued interest to the date fIXed for redemption from the Paying
<br />AgentlRegistrar out of the funds provided for such payment. The Paying Agent/Registrar shall
<br />
<br />2
<br />
|