Ordinance 1504-88 - Laserfiche WebLink

and control; shall bear interest from their date, until the Bonds have been paid or their payment duly provided for, payable on July 1, 1989, and semiannually thereafter on the first day of each July and January; and shall mature on July 1 of each year as follows: Maturity Principal Maturity Principal Year Amount Year Amount 1989 $165, 000 1999 $310, 000 1990 175, 000 2000 330, 000 1991 185, 000 2001 355, 000 1992 195, 000 2002 385, 000 1993 210, 000 2003 415, 000 1994 220, 000 2004 445, 000 1995 235, 000 2005 480, 000 1996 255, 000 2006 515, 000 1997 270, 000 2007 560, 000 1998 290,000 2008 605, 000 The Bonds shall bear interest at such rate or rates as are established by subsequent resolution of the Council adopted upon the sale of the Bonds as provided herein. SECTION 4. Registration of Bonds. The City hereby specifies and adopts the system of registration for the Bonds approved by the State Finance Committee, and the fiscal agencies of the State of Washington in the cities of Seattle, Washington, and New York, New York, shall act as authenticating trustee, transfer agent, paying agent and registrar for the Bonds (collectively, the "Bond Registrar" ) . The Bond Registrar shall keep, or cause to be kept, at its principal corporate trust office, sufficient records for the registration and transfer of the Bonds which shall at all times be open to inspection by the City. The Bond Registrar is authorized, on behalf of the City, to authenticate and deliver Bonds transferred or exchanged in accordance with the provisions of such Bonds and this ordinance and to carry out all of the Bond Registrar' s powers and duties under this registration. The Bond Registrar shall be responsible for its representa- tions contained in the Certificate of Authentication on the Bonds. -6- KR258 88/07/06