O-1991-1755 - Laserfiche WebLink

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e e interest payment (a "Special Record Date") will be established by the Paying Agent/Registrar, If and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (which shall be 15 days after the Special Record Date) shall be sent at least five business days prior to the Special Record Date by United States mail, first class, postage prepaid, to the address of each registered owner of a Bond appearing on the books of the Paying Agent/Registrar at the close of business on the last business day next preceding, the date of mailing of such notice. The City covenants with the registered owner of this Bond that no later than each principal payment date and interest payment date for this Bond it will make available to the Paying Agent/Registrar the amounts required to provide for the payment, in immediately available funds by wire transfer or other means acceptable to the Paying Agent/Registrar, of all principal of and interest on the Bonds, when due, in the manner set forth in the ordinance authorizing the issuance of this Bond adopted by the City Council of the City on May 14, 1991 (the "Ordinance"). IF THE DATE for the payment of the principal of or int~rest on this Bond shall be a Saturday, a Sunday, a legal holiday, or a 'day on which banking institutions in the city where the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not such a Saturday, Sunday, legal holiday, or day on which banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. THIS BOND is one of a series of bonds of like tenor and effect, except as to denomination, number, maturity, interest rate, and right of prior redemption, issued in the aggregate principal amount of $3,425,000 for the purpose of providing funds to refund the outstanding City of La Porte Waterworks and ,Sewer System Revenue Bonds, Series 1985 maturing in the years 1996 through 2005 and to pay costs of issuance. THE BONDS of this Series scheduled to mature on and after March 15" 2000 may be redeemed prior to their scheduled maturities, in whole, or in part in principal amounts of $5,000 or any integral multiple thereof, at the option of the City, on March 15, 1999, or on any date selected by the City thereafter, at the redemption price of the par value plus accrued interest to the date fixed for redemption. If less than all of the Bonds are to be redeemed by the City, the City shall determine the maturity or maturities and the amounts therewith to be redeemed and shall direct the Paying Agent/ Registrar to call by lot Bonds, or portions thereof, within such maturity or maturities and in such principal amounts, for redemption. AT LEAST 30 days prior to the date for any such redemption, a notice of such redemption shall be published one time in a financial journal or publication of general circulation in the United States of America carrying as a regular feature notices of municipal Bonds called for redemption. Such notice also shall be sent by the Paying Agent/Registrar by United States mail, first class, postage prepaid, at least 30 days prior to the date fixed 6