Ordinance 1236-86 - Laserfiche WebLink

or draft mailed to the registered owners at the addresses appearing on the Bond Register on the 15th day of the month preceding the interest payment date. The principal of the Bonds shall be payable upon presentation and surrender of the Bonds by the registered owners at the principal offices of either of the fiscal agencies of the State of Washington in Seattle, Washington, and New York, New York, at the option of such owners . The City reserves the right to redeem the Bonds prior to their stated maturity on any interest payment date, in numerical order, lowest numbers first , at par plus accrued interest , whenever there shall be sufficient money in the Bond Fund to pay the Bonds so called and all earlier numbered Bonds over and above the amount required for the payment of the interest on all unpaid Bonds , by mailing, not less than 10 nor more than 20 days prior to the date fixed for redemption, notice of such redemp- tion by first class mail, postage prepaid, to the registered owner of any Bond to be redeemed at the address appearing on the Bond Register . The requirements of this section shall be deemed to be complied with when notice is mailed as herein provided whether or not it is actually received by the owner of any Bond. The interest on the Bonds so called for redemption shall cease on the date fixed for redemption unless such Bond or Bonds so called are not redeemed upon presentation made pursuant to such call . Section 2 . The Bonds shall be printed, lithographed or typed on good bond paper in a form consistent with the provi- sions of this ordinance and state law, shall be signed by the Mayor and the City Clerk, both of whose signatures shall be in facsimile, and shall have a facsimile reproduction of the seal of the City printed thereon. Only such Bonds as shall bear thereon a Certificate of Authentication in the following form, manually executed by the - 3 -