Ordinance 2208-97 - Laserfiche WebLink

. , . The City has reserved the right to redeem the outstanding bonds, on or after July 1, 2007, in whole or in part, on any interest payment date (maturities to be chosen by the City and by lot within each maturity), at the respective redemption prices expressed below as a percentage of principal amount, plus accrued interest to date of redemption: On July 1, 2007 and January 1, 2008 101.0% On July 1, 2008 and thereafter 100.0% Notice of any call for redemption shall be given not less than thirty (30) nor more than sixty (60) days prior to the date fixed for redemption by first class mail, postage prepaid, to the registered owner of any bond to be redeemed at the address appearing on the Bond Register. The requirements of the Bond Ordinance shall be deemed to have been complied with when notice is mailed as herein provided, regardless of whether or not it is actually received by the owner of any bond. Interest on any bonds so called for redemption shall cease on such redemption date unless the same shall not be paid in full upon presentation made pursuant to such call. The Bond Registrar shall not be required to register, transfer or exchange any bond called for redemption within twenty (20) days next preceding the date fixed for such redemption. Portions of any bond, in installments of$5,000 or any integral multiple of $5,000, may also be redeemed in accordance with the schedules set forth above. If less than all of the principal amount of any bond is redeemed, upon surrender of such bond at the principal office of the Bond Registrar there shall be issued to the registered owner, without charge therefor, for the then unredeemed balance of the principal amount thereof, a new bond or bonds, at the option of the registered owner, of like maturity and interest rate in any of the denominations authorized by the Bond Ordinance. The bonds of this issue may be transferred only if endorsed in the manner provided hereon and surrendered to the Bond Registrar. The bonds are interchangeable for bonds of any authorized denomination of an equal aggregate principal amount and of the same interest rate and maturity upon presentation and surrender to the Bond Registrar. Such transfer or exchange shall be without cost to the Registered Owner. The capitalized terms used herein have the meanings set forth in the Bond Ordinance. Reference is made to the Bond Ordinance and any and all modifications and amendments thereof for a description of the nature and extent of the security for the bonds of this issue, the funds or revenues pledged, and the terms and conditions upon which such bonds are issued. -35- FWWOBU DOC 97/03/04