Ordinance 1924-93 - Laserfiche WebLink

• • of the City, passed January _, 1993 and Resolution No . of the City, adopted January , 1993 (together the "Bond Ordinance" ) , to provide part of the funds necessary to acquire, construct and equip certain library improvements . The outstanding bonds maturing on and after December 1, 2004, are subject to redemption prior to their maturity in whole or in part, in inverse order of maturity and by lot within a maturity in such manner as the Bond Registrar shall determine, on any interest payment date on or after December 1, 2003, at a price of par plus accrued interest to the date of redemption. Portions of the principal amount of any bond, in installments of $5, 000 or any integral multiple of $5, 000, may be redeemed in accordance with the foregoing paragraph. 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 . Notice of redemption, unless waived, is given by the Bond Registrar by mailing an official redemption notice by first class mail, postage prepaid, at least 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 as herein provided, regardless of whether or not it is actually received by the owner of any bond. The interest on any bonds so called for redemption shall cease to accrue on the date fixed for redemption unless such bond or bonds so called are not redeemed upon presentation made pursuant to such call . The pledge of tax levies for payment of principal of and interest on the bonds may be discharged prior to maturity of the bonds by making provision for the payment thereof on the terms and conditions set forth in the Bond Ordinance . The bonds of this issue are issued in fully registered form in the denomination of $5, 000 each or any integral multiple thereof and provided that no bond shall represent more than one maturity. Upon surrender to the Bond Registrar, bonds are interchangeable for bonds in any authorized denomination of an equal aggregate principal amount and of the same interest rate and maturity. This bond is transferable only on the records maintained by the Bond Registrar for that purpose upon the -22- FW WOOH.DOC 93/01/08