Ordinance 1504-88 - Laserfiche WebLink

In addition to the foregoing notice, further notice shall be given by the Bond Registrar as set out below, but no defect in said further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above prescribed. ( 1) Each further notice of redemption given hereunder shall contain the information required above for an official notice of redemption plus: (i ) the CUSIP numbers of all Bonds being redeemed; (ii ) the date of issue of the Bonds as originally issued; (iii ) the rate of interest borne by each Bond being redeemed; (iv) the maturity date of each Bond being redeemed; and (v) any other descriptive information needed to identify accurately the Bonds being redeemed. (2 ) Each further notice of redemption shall be sent at least 35 days before the redemption date by regis- tered or certified mail or overnight delivery service to all registered securities depositories then in the business of holding substantial amounts of obligations of types com- prising the Bonds ( such depositories now being Depository Trust Company of New York, New York, Midwest Securities Trust Company of Chicago, Illinois, and Philadelphia Depository Trust Company of Philadelphia, Pennsylvania) . (3 ) Upon the payment of the redemption price of Bonds being redeemed, each check or other transfer of funds issued for such purpose shall bear the CUSIP number identify- ing, by issue and maturity, the Bonds being redeemed with the proceeds of such check or other transfer. SECTION 7 . Creation of Bond Fund and Provision for Tax Levy Payments. There is hereby created a special fund of the City to be known as the "1988 Senior Facilities Unlimited Tax Levy General Obligation Bond Redemption Fund" (the "Bond Fund" ) . The Bond Fund -10- KR258 88/07/06