5.3. SR 02-06-2006 - Laserfiche WebLink

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Section 5. Series 2006A Bond Terms Execution and Delivery. 5.01. Maturities, Interest Rates, Denominations, Payment and Dating of Bonds. The City shall forthwith issue and deliver the Series 2006A 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 March 2, 2006, shall mature on August 1 in the years and amounts set forth below and shall bear interest from date of original issue until paid or duly called for redemption at the rates per annum set forth below: Year Amount Interest Rate Year Amount Interest Rate 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 As may be requested by the Purchaser, one or more term Series 2006A Bonds may be issued having mandatory sinking fund redemption and final maturity amounts conforming to the foregoing principal repayment schedule and corresponding additions may be made to the provisions of the applicable Series 2006A Bond(s). The Series 2006A Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Series 2006A Bond, the principal amount thereof, shall be payable by check or draft issued by the Registrar. 5.02. Interest Payment Dates. The Series 2006A Bonds shall bear interest payable semiannually on February 1 and August 1 of each year, commencing August 1,2006, calculated on the basis of a 360-day year of twelve 30-day months to the person in whose name the Series 2006A Bond is registered in the Bond Register at the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. 5.03. Optional Redemption. Series 2006A Bonds maturing on August 1,2014, and thereafter, shall be subject to redemption and prepayment at the option of the City on February 1, 2014, and on any date thereafter at a price of par plus accrued interest. Redemption may be in whole or in part of the Series 2006A 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 2006A Bonds having a common maturity date are called for prepayment, the specific Series 2006A Bonds to be prepaid shall be chosen by lot by the Bond Registrar. Series 2006A 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 1861915vl 14