1985-09-24 Special Meeting - Laserfiche WebLink

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each in the principal amount set opposite the year of matu- rity in the schedule set forth in Section 3. Bonds regis- tered and delivered in exchange for any of the Initial Bonds surrendered for transfer or exchange shall be numbered from R-21 upward in the order that they are authenticated and de- livered by the Paying Agent/Registrar hereinafter designat- ed. Section 3: That the Bonds shall bear interest (computed on the basis of a 360-day year of twelve 30-day months) from the later of the Initial Date or the most re- cent date to which interest has been paid or duly provided for, payable March 15, 1986, and each September 15 and March 15 thereafter until the principal sum is paid in full. Payment of interest shall be made to the registered owner of each Bond as shown on the Bond Register provided for in Section 6 hereof as of the last business day of the calendar month next preceding the interest payment date by check or draft mailed by the Paying Agent/Registrar to the address of each such owner as it appears on such Bond Register on the date aforesaid. The Bonds shall mature and become payable, subject to prior redemption in accordance with the pro- visions of Section 5 hereof, on March 15 in each of the years and in the principal amount set forth in the schedule below, and shall bear interest at the respective rates per annum set forth opposite the year of maturity in said sched- ule, to-wit: Year of Principal Interest Maturity Amount Rate 1986 $300,000 / np ~ 1987 300, 000 ~~.~U o 1988 300, 000 , ,r °~$ 1989 300,000 0o g 1990 300,000 ~ po $ 1991 300,000 ,p~ $ 1992 300,000 I DD $ 1993 300,000 ~~ 1994 300,000 ~_~ 1995 300,000 ~/ I)A $ ~ 1996 300,000 q.~o $ 1997 300, 000 ~.y~ ~ 1998 300,000 ~$ 1999 300, 000 ~.,u o 2000 300,000 -- ~~~ 2001 300, 000 ~.bo ~ 2002 300,000 4.~~ 2003 300, 000 Q.7D 2004 300, 000 q.a~$ 2005 300, 000 9.0~ $ Cg.GS~ Section 4: That the principal of the Bonds shall be payable, without exchange or collection charges, in any coin or currency of the United States of America which, on the date of payment thereof, is legal tender for the payment of debts due the United States of America, upon their presentation and surrender as they become due or at their earlier redemption date, if any, at the principal office of the Paying Agent/Registrar. 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 002RDRAW/193B01 -2-