Ordinance 1891-92 - Laserfiche WebLink

Redemption Date Price July 1, 2002 and January 1, 2003 101 . 0% July 17 f003 and January 1, 2004 100 . 5 July 1, 2004 and thereafter 100 . 0 [Mandatory Call Provision] 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. In addition, such redemption notice shall also be mailed within the same time period, postage prepaid, to Shearson Lehman Brothers Inc . , Foster & Marshall Division, Seattle, Washington, Seattle- Northwest Securities Corporation, Seattle, Washington, and to Dain Bosworth Incorporated, Seattle, Washington, or to their successors in business, if any, and to Standard & Poor' s Corporation and Moody' s Investors Service, Inc. in New York, New York, or their successors, if any, at the main place of business of such firms, but none of such mailings shall be a condition precedent to the call of any bonds for redemption. 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 66 Fww003.DOc 92/09/21