O-1979-1158 - Laserfiche WebLink

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. . . . e e System (being the first installment out of $2,000,000 authorized for such purpose, leaving $1,850,000 to be ,issued in one or more installments at a later date or dates), under and by virtue of the Constitution and laws of the State of Texas and as authorized at the bond election held in said City on the 24th day of February, 1979. Section 2: That said bonds shall be dated May 15, 1979, shall be numbered consecutively from 1 through 280, shall be in the denomination of $5,000 each, and shall mature and become due and payable serially on February 15 in each of the years and in the amounts specified in the following schedule: Year Amount Year Amount 1982 $100,000 1989 $100,000 1983 100,000 1990 100,000 1984 100,000 1991 100,000 1985 '100,000 1992 100,000 1986 100,000 1993 100,000 1987 100,000 1994 100,000 1988 100,000 1995 100,000 Provided, however, that the City reserves the right to redeem in whole or in part, all such bonds maturing in the years 1990 through 1995 on Febru~ry 15, 1989, or any interest payment date thereafter by paying the principal thereof and accrued interest thereon. If less than all of said bonds then outstanding are called for redemption, then the 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. -2-