Ordinance 1433-88 - Laserfiche WebLink

the Washington State Finance Committee. The Bond Registrar shall keep, or cause to be kept, at its principal corporate trust office, sufficient books for the registration and transfer of the 1988 Bonds which shall at all times be open to inspection by the City and the Bond Insurer. The Bond Registrar is authorized, on behalf of the City, to authenticate and deliver 1988 Bonds trans- ferred or exchanged in accordance with the provisions of such 1988 Bonds and this ordinance and to carry out all of the Bond Regis- trar' s powers and duties under this ordinance. The Bond Registrar shall be responsible for its representa- tions contained in the Certificate of Authentication on the 1988 Bonds. The Bond Registrar may become the owner of 1988 Bonds with the same rights it would have if it were not the Bond Registrar, and to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the rights of the owners of the 1988 Bonds. Section 7 . Redemption Prior to Maturity and Mandatory Redemption. A. Optional Redemption and Mandatory Redemption. The City hereby reserves the right to redeem the outstanding 1988 Bonds maturing on or after July 1, 1999, in whole, or in part in inverse order of maturity ( and by lot within each maturity in such manner as the Bond Registrar shall determine) , on July 1, 1998, and on any interest payment date thereafter, at par, plus accrued interest to the date of redemption, provided that the City shall be in compliance with Section 11.B(2 ) of this ordinance at the time of any such redemption. The 1988 Term Bonds, unless previously redeemed pursuant to the foregoing paragraph of this Section 7 .A, shall be redeemed in the following amounts by lot ( in such manner as the Bond Registrar shall determine) on July 1 of the following years, solely from the -19- KR180 87/01/11