Ordinance 3850 - Laserfiche WebLink

Both principal of and interest on the Bonds shall be payable in lawful money of the United States of America at the office of the City Treasurer in Everett or, at the option of the holder, at the fiscal agency of the State of Washington in New York, New York, and shall be obligations only of the special Bond Redemption Fund hereinafter created. Section 5 . The city hereby reserves the right to redeem any or all of the Bonds in whole, or in part in inverse numerical order, at the following times and at the following prices expressed as a percentage of the principal amount, plus accrued interest to date of redemption: On December 15, 1971 and June 15, 1972, @ 103 On December 15, 1972 and June 15, 1973, @ 102 1/2 On December 15, 1973 and June 15, 1974, @ 102 On December 15, 1974 and June 15, 1975, @ 101 1/2 On December 15, 1975 and June 15, 1976, @ 101 On December 15, 1976 and June 15, 1977, @ 100 1/2 On December 15, 1977 and any interest payment date thereafter, at 100. Notice of any such intended redemption shall be given by one publication thereof in the official city newspaper not more than forty nor less than thirty days prior to said redemption date, and by mailing a like notice at the same time to the purchaser or account manager of the purchasers of the Bonds at their sale by the city, at its main or local office or to the successor in business, if any, of said purchaser or account manager at its main or local office. "Local office" is hereby defined as the main office of such pur- chaser, account manager or business successor in the State of Washington. Interest on any Bond or Bonds so called for redemption shall cease on such redemption date unless the same are not redeemed upon presentation made pursuant to such call. 5 .