Ordinance 3754 - Laserfiche WebLink

• • Section 4. The city hereby reserves the right to redeem any or all of the Bonds outstanding on the following interest payment dates and at the following prices expressed as a percentage of the principal amount, plus accrued interest to date of redemption: On October 1, 1969 and April 1, 1970, at 104 On October 1, 1970 and April 1, 1971, at 103 1/2 On October 1, 1971 and April 1, 1972, at 103 On October 1, 1972 and April 1, 1973, at 102 1/2 On October 1, 1973 and April 1, 1974, at 102 On October 1, 1974 and April 1, 1975, at 101 1/2 On October 1, 1975 and April 1, 1976, at 101 On October 1, 1976 and April 1, 1977, at 100 1/2 On October 1, 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 Wm. P. Harper & Son & Company at its office in Seattle, Washington, or to the successor in business, if any, of said company at its main or local office. "Local office" of such company is hereby defined as the main office thereof 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. Section 5. That the Bond Redemption Fund was created for the sole purpose of paying the principal of and interest on the Outstanding Parity Bonds, the Bonds, and any Future Parity Bonds that the city may later issue. The city hereby obligates and binds itself to set aside and pay into the Bond Redemption Fund out of the gross revenue of the Sys- tem, the following fixed amounts necessary to pay the principal of and interest on the Bonds as the same respectively become due and payable, which amounts shall be paid into the Bond Redemption Fund on or before the twentieth day of each month as follows: -6-