Ordinance 1505-88 - Laserfiche WebLink

the option of the registered owner, of like maturity and interest rate in any of the denominations authorized by this ordinance. SECTION 6. Notice of Redemption; Effect of Redemption. Unless waived by the registered owner of Bonds to be redeemed or the nominee thereof, official notice of any such redemption shall be given by the Bond Registrar on behalf of the City by mailing a copy of an official redemption notice by registered or certified mail at least 30 days and not more than 60 days prior to the date fixed for redemption to the registered owner of the Bond or Bonds to be redeemed at the address shown on the Bond Register or at such other address as is furnished in writing by such registered owner to the Bond Registrar. All official notices of redemption shall be dated and shall state: (a) the redemption date; (b) the redemption price; (c) if less than all outstanding Bonds are to be redeemed, the identification (and, in the case of partial redemp- tion, the respective principal amounts) of the Bonds to be redeemed; (d) that on the redemption date the redemption price will become due and payable upon each such Bond or portion thereof called for redemption, and that interest thereon shall cease to accrue from and after said date; and (e) the place where such Bonds are to be surrendered for payment of the redemption price, which place of payment shall be the principal office of the Bond Registrar. Prior to any redemption date, the City shall deposit with the Bond Registrar an amount of money sufficient to pay the redemption price of all the Bonds or portions of Bonds which are to be redeemed on that date. -8- KR257 88/07/06