Ordinance 1433-88 - Laserfiche WebLink

Shearson Lehman Brothers Inc . , Foster and Marshall Division, Seattle-Northwest Securities Corporation and Dain Bosworth Incorporated at their respective offices in Seattle, Washington, or to their successors in business, if any. (3 ) Each such further notice shall be published one time in the Bond Buyer of New York, New York, or, if such publication is impractical or unlikely to reach a substantial number of the holders of the 1988 Bonds, in some other financial newspaper or journal which regularly carries notices of redemption of other obligations similar to the 1988 Bonds, such publication to be made at least 30 days prior to the date fixed for redemption. (4) Upon the payment of the redemption price of 1988 Bonds being redeemed, each check or other transfer of funds issued for such purpose shall bear the CUSIP number (if any) identifying, by issue and maturity, the 1988 Bonds being redeemed with the proceeds of such check or other transfer. F. Purchase of Bonds In Open Market. The City further reserves the right to use at any time any surplus Revenue of the System available after providing for the payments required by paragraphs First through Seventh, inclusive, of Section 8 of this ordinance, or other available funds, to purchase any of the 1988 Bonds in the open market for retirement only, if the same may be purchased at a price not exceeding that at which they could be called for redemption on the first succeeding date on which they may be called, plus accrued interest. The principal amount of any 1988 Term Bonds purchased pursuant to this Subsection may be deducted from the principal amount of 1988 Term Bonds required to be redeemed on the next mandatory redemption date . Section 8. Priority of Payments from Revenue Fund. A special fund of the City known as the "Water and Sewer Revenue Fund" has heretofore been established in the office of the Treasurer into -23- KR180 88/01/11