Ordinance 2311-98 - Laserfiche WebLink

at least $1,000,000 principal amount of bonds, interest will be paid by wire transfer on the date due to an account with a bank located within the United States. This bond is one of an issue of limited tax general obligation bonds of like date and tenor, except as to number, amount, rate of interest and date of maturity, in the aggregate principal amount of$1,700,000 (the `Bonds"), and is issued pursuant to Ordinance No. (the "Bond Ordinance") passed by the City Council on July 22, 1998, to finance improvements to the City- owned golf course and related facilities and to pay costs of issuance. Capitalized terms used in this bond and not otherwise defined shall have the meanings given them in the Bond Ordinance. The City has reserved the right to redeem the Bonds maturing on and after September 1, 2009, in whole or in part (and if in part, with maturities to be selected by the City and by lot within a maturity) on any date on or after September 1, 2008, at a price of par plus accrued interest,if any,to the redemption date. Portions of the principal amount of this Bond in installments of$5,000 or any integral multiple thereof also may be redeemed in accordance with the provisions set forth above, and if less than all of the principal amount is to be redeemed, upon the surrender of this Bond at the principal offices of the Bond Registrar there shall be issued to the Registered Owner, without charge, for the then unredeemed balance of the principal sum, at the option of the owner, a Bond or Bonds of like maturity and interest rate in any of the denominations authorized by the Bond Ordinance. The bonds of this issue maturing on September 1, 2018, are also subject to redemption prior to maturity through mandatory amortization payments on September 1 of the following years and in the following amounts in each case at a redemption price of par, plus accrued interest to the date of redemption. Year Amounts 2016 $ 130,000 2017 135,000 2018* 140,000 * Final Maturity Notice of redemption, unless waived, is given by the Bond Registrar by mailing an official redemption notice by regular mail, postage prepaid, not less than 30 days and not more than 60 days prior to the date fixed for redemption, to the Registered Owner of any Bond to be redeemed at the address appearing on the Bond Register. The requirements for such notice shall be deemed to be complied with when notice is mailed, regardless of whether it is actually received by the owner of any Bond. If such notice has been given and if the City has set aside, on the date fixed for redemption, sufficient money for the payment of all Bonds called for redemption, the Bonds so called shall cease to accrue interest after such redemption date, and all such Bonds shall no longer be deemed to be outstanding for any purpose, except that the Registered Owners shall be -15- scoiB.Doc