Ordinance 1988-94 - Laserfiche WebLink

Maturity Year (July 1) Principal Amount Interest Rate 1994 $ 95,000 3.000% 1995 90,000 3.000 1996 95,000 3.300 1997 95,000 3.600 1998 100,000 3.800 1999 745,000 4.000 2000 775,000 4.100 2001 1,020,000 4.250 2002 1,070,000 4.375 2003 1,115,000 4.500 2004 245,000 4.550 2005 255,000 4.650 C. Place. Manner and Medium of Payment. The fiscal agencies of the State of Washington in the cities of Seattle, Washington, and New York, New York, shall act as registrar for the Bonds (collectively, the "Bond Registrar"). The Bond Registrar shall maintain the Bond Register. Both 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 paid by checks or drafts mailed on the date such interest is due to the registered owners of Bonds or the nominees of such owners at the addresses appearing on the Bond Register as of the 15th day of the calendar month preceding the interest payment date. Principal of the Bonds shall be payable upon presentation and surrender of the Bonds by the registered owners or the nominees of such owners at either principal office of the Registrar in Seattle, Washington, or New York, New York, at the option of such owners. SECTION 3. Redemption and Purchase of Bonds. A. Optional Redemption. The City reserves the right to redeem outstanding Bonds maturing on or after July 1, 2005, on or after July 1, 2004, in whole on any date, or in part on any interest payment date (maturities to be chosen by the City and by lot within each maturity in such manner as the Bond Registrar shall determine), at a price of par plus accrued interest to the date of redemption. -5- DOT061.DOC 94/01/19