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98-130 RES
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98-130 RES
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Last modified
12/3/2007 2:34:31 PM
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5/3/2002 8:47:06 PM
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City Government
type
RES
date
11/30/1998
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Maturity Interest Maturity Interest <br /> Year Rate Year Rate <br /> <br />2000 % 2005 <br />2001 2006 <br />2002 2007 <br />2003 2008 <br />2004 2009 <br /> <br /> 6. Redemption. Ail Bonds maturing after February 1, <br />2006, shall be subject, to redemption and prepayment at the option <br />of the City on said date and on any date thereafter at a price of <br />par plus accrued interest to date of redemption. Redemption may <br />be in whole or in part of the Bonds subject to prepayment. If <br />redemption is in part, the City shall determine the amount of <br />Bonds of each maturity to be prepaid; and if only part of the <br />Bonds having a common maturity date are called for prepayment, <br />the specific Bonds to be prepaid shall be chosen by lot by the <br />Bond Registrar. Bonds or portions thereof called for redemption <br />shall be due and payable on the redemption date, and interest <br />thereon shall cease to accrue from and after the redemption date. <br />Published notice of redemption shall in each case be given if and <br />to the extent required by applicable law, and mailed notice of <br />redemption shall be given to the paying agent and to each <br />affected registered owner of the Bonds. <br /> <br /> To effect a partial redemption of Bonds having a common <br />maturity date, the Bond Registrar, prior to giving notice of <br />redemption, shall assign to each Bond of that maturity a <br />distinctive number for each $5,000 of the principal amount of <br />such Bond. The Bond Registrar shall then select by lot, using <br />such method of selection as it shall deem proper in its <br />discretion, from the numbers so assigned to such Bonds, as many <br />numbers as, at $5,000 for each number, shall equal the principal <br />amount of such Bonds to be redeemed. The Bonds to be redeemed <br />shall be the Bonds to which were assigned numbers so selected; <br />provided, however, that only so much of the principal amount of <br />each such Bond of a denomination of more than $5,000 shall be <br />redeemed as shall equal $5,000 for each number assigned to it and <br />so selected. If a Bond is to be redeemed only in part, it shall <br />be surrendered to the Bond Registrar (with, if .the. City or Bond <br />Registrar so requires, a written instrument of transfer in form <br />satisfactory to the City or Bond Registrar duly executed by the <br />registered owner.thereof or by the registered owner's attorney, <br />duly authorized in writing) and the City shall execute~(if <br />necessary) and the Bond Registrar shall authenticate and deliver <br />to the registered owner of such Bond, without service charge, a <br />new Bond or Bonds of the same series having the same stated <br />maturity and interest rate and of any authorized denomination or <br />denominations, as requested by such registered owner, in <br />aggregate principal amount equal to and in exchange for the <br />unredeemed portion of the principal of the Bond so surrendered. <br /> <br />999191.1 7 <br /> <br /> <br />
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