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Ordinance 3955
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Ordinance 3955
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Last modified
8/10/2020 1:10:34 PM
Creation date
8/10/2020 1:10:12 PM
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Ordinances
Ordinance Number
3955
Date
6/18/1963
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in inverse numerical order on the following interest payment dates <br /> and at the following prices expressed as a percentage of the principal <br /> amount, plus accrued inteest to the date of rede; rti on: <br /> On July 1, 1975, and January 1, 1976, Q 10 - <br /> On July 1, 1976, ar:d January 1, 1977, g 103 1/2 <br /> On July 1, 1977, and January 1, 1978, 103 <br /> On July 1, 1978, and January 1, 1979, e 102 1/2 <br /> On July 1, 1979, and. January 1, 1930, 0 102 <br /> On July 1, 1980, and January 1, 19S1, C 101 1/2 <br /> On July 1, 1981, and January 1, 1982, e 101 <br /> On July 1, 1982, and January 1, 1983, g 100 1/2 <br /> On July 1, 1983, and any interest <br /> payment date thereafter g 100 <br /> Notice of any such intended redemption shall be given by <br /> one publication thereof in the official city newspaper not more than <br /> forty nor less than thirty days prior to said redemption date and by <br /> mailing a like notice at the same time to the account manager of the <br /> purchaser of the Bonds at their sale by the city at its main office <br /> or principal place of business, or to the business successor, if any, <br /> of said account manager at its main office or principal place of <br /> business . Interest on any bond or bonds so called for redemption <br /> shall cease on such redemption date unless the same are not redeemed <br /> upon presentation made pursuant to such call . <br /> The city further reserves the right, whenever it has surplus <br /> money in the Sewer Revenue Fund over and above the amounts necessary <br /> to pay current costs of maintaining and operating the System, costs <br /> of necessary additions , betterments, improvements and replacements <br /> thereof when the same are not financed by the issuance of bonds or <br /> coupon warrants, all payments required to be made into any bond re- <br /> demption fund or reserve account out of the revenue of the System, <br /> and all payments required for any other proper purposes in connection <br /> with the operation of the System to use such surplus money at any <br /> time to purchase any of the Bonds in the open market for retirement <br /> only if the same may be purchased at a price not exceed that at which <br />
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