1980-07-30 Special Called Meeting

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• • • maturing in the years 1991 through 1999 on February 1, 1990, or any interest payment date thereafter by paying the princi- pal thereof and accrued interest thereon. If less than all of the New Bonds then outstanding are called for redemption, then such bonds shall be called in inverse numerical order. Notice of such redemption shall be given in writing~to Bayshore National Bank, La Porte, Texas, at least thirty (30) days prior to the date fixed for redemption and written notice shall also be given by publishing a copy of said notice in a financial publication of general circulation in the United States one (1) time at least thirty (30) days prior to the date fixed for redemption. Any bond or bonds • called for redemption, due provision for the payment of which having been timely made, shall cease to bear interest from and after the date fixed for redemption. Section 3: That the New Bonds shall bear interest • U per annum from their date until maturity, unless called . sooner for prior redemption in accordance with the provi- sions hereof, at the following rates: All bonds scheduled to the years 1981 through All bonds scheduled to the years ~g~ through All bonds scheduled to the years 1989 through All bonds scheduled to the years 1994 through All bonds scheduled to the years 1996 through All bonds scheduled to the years 1998 through mature during 1984 mature during 1988 mature during 1993 mature d::ring 1995 mature during 1997 mature during 1999 8.50 7.50 7.00 7.50 8.00 8.25 with said interest to be evidenced by interest coupons payable on February 1, 1981, and semiannually thereafter on each August 1 and February 1, until the principal sum is paid in full. Section 4: That the principal of and interest on the New Bonds shall be payable to bearer, in lawful money of the United States of America, without exchange or collection -3-