5.3. SR 08-02-2004 - Laserfiche WebLink

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Section 5. Series 2004A Bond Terms Execution and Delivery. 5.01. Maturities, Denominations, Payment and Dating of Bonds. The City shall forthwith issue and deliver the Series 2004A Bonds which shall be in the denomination of $5,000 each or any integral multiple thereof of a single maturity, shall bear a date of original issue of August 1, 2004, and shall mature on February 1 in the years and amounts set forth below: Year Amount Year Amount 2006 2011 2007 2012 2008 2013 2009 2014 2010 2015 The Series 2004A Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Series 2004A Bond, the principal amount thereof, shall be payable by check or draft issued by the Registrar. 5.02. Interest Rates and Interest Payment Dates. The Series 2004A Bonds shall bear interest payable semiannually on February 1 and August 1 of each year, commencing February 1, 2005, calculated on the basis of a 360-day year of twelve 30-day months to the Person who is the Holder thereof according to the Bond Register as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. The Series 2004A Bonds will bear interest as established by the authority given to the Pricing Committee based on the Purchaser's proposal. 5.03. Redemption. Series 2004A Bonds maturing on February 1, 2012, and thereafter, shall be subject to redemption and prepayment at the option of the City on August 1,2011, and on any date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of the Series 2004A Bonds subject to prepayment. If redemption is in part, the maturities and the principal amounts within each maturity to be redeemed shall be determined by the City; and if only part of the Series 2004A Bonds having a common maturity date are called for prepayment, the specific Series 2004A Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Series 2004A Bonds or portions thereof called for redemption shall be due and payable on the redemption date, and interest thereon shall cease to accrue from and after the redemption date. Mailed notice of redemption shall be given to the paying agent and to each affected registered holder of the Series 2004A Bonds at least thirty days prior to the date fixed for redemption. To effect a partial redemption of Series 2004A Bonds having a common maturity date, the Bond Registrar prior to giving notice of redemption shall assign to each Series 2004A Bond having a common maturity date a distinctive number for each $5,000 of the principal amount of such Series 2004A Bond. The Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in its discretion, from the numbers so assigned to such Series 2004A Bonds, as many numbers as, at $5,000 for each number, shall equal the principal amount 1670578vl 13