Ordinance 3633 - Laserfiche WebLink

• Section 3 . The city hereby reserves the right to redeem any or all of the Bonds outstanding when such redemption is from earnings only of the System, in inverse order of maturities, at par and accrued interet to date of redemption on any interest payment date on and after October 1, 1967; provided, however, that if less than all of the Bonds outstanding maturing on such last maturity date are to be so redeemed, such Bonds within such maturity to be redeemed shall be selected by lot. The city further reserves the right to redeem any or all of the Bonds outstanding by refunding on the following interest pay- ment date at the following prices expressed as a percentage of the principal amount plus accrued interest to date of redemption: On October 1, 1967 and April 1, 1968, at 104 On October 1, 1968 and April 1, 1969, at 103 1/2 On October 1, 1969 and April 1, 1970, at 103 On October 1, 1970 and April 1, 1971, at 102 1/2 On October 1, 1971 and April 1, 1972, at 102 On October 1, 1972 and April 1, 1973, at 101 1/2 On October 1, 1973 and April 1, 1974, at 101 On October 1, 1974 and April 1, 1975, at 100 1/2 On October 1, 1975 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 Blyth & Co. , Inc . , as account manager of the purchasers of the Bonds at their sale by the city, 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 account manager is hereby defined as the main office of such firm or corporation 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 . -4-