Ordinance 2607-02 - Laserfiche WebLink

Maturity Years (July 1) Principal Amounts Interest Rates 2003 $ 435,000 3.000 % 2004 465,000 3.000 2005 475,000 3.250 2006 495,000 3.375 2007 510,000 4.000 2008 530,000 4.000 2009 550,000 4.125 2010 575,000 4.250 2011 600,000 4.350 2012 625,000 4.500 The Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and secured as provided herein. The Bonds shall not be general obligations of the City. Section 4. Place and Medium of Payment. The principal of and interest on the Bonds shall be payable in lawful money of the United States of America. Interest on the Bonds shall be calculated on the basis of a 360-day year and twelve 30-day months. For so long as all Bonds are in fully-immobilized form, such payments of principal and interest thereon shall be made as provided in the operational arrangements of DTC as referred to in the Letter of Representations. In the event that the Bonds are no longer in fully-immobilized form, interest on the Bonds shall be paid by check or draft mailed to the Registered Owners of the Bonds at the addresses for such Registered Owners appearing on the Bond Register on the 15th day of the month preceding the interest payment date. Principal of the Bonds shall be payable upon presentation and surrender of such Bonds by the Registered Owners at the principal office of the Bond Registrar. Section 5. Registration. (a) Bond Registrar/Bond Register. The City hereby specifies and adopts the system of registration and transfer for the Bonds approved by the Washington State Finance Committee from time to time through the appointment of state fiscal agencies. The City shall cause a bond register to be maintained by the Bond Registrar. So long as any Bonds remain -13- P\CMW\CMW5BE 02/05/21