Ordinance 1139-85 - Laserfiche WebLink

B. Mandatory Redemption. The 1985 Term Bonds, unless previously redeemed pursuant to Paragraph A of this Section, 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 payments required to be made therefor into the 1985 Sinking Fund Account, at a price of par plus accrued interest to the date of redemption: Year Amount 2000 $ 3 ,290, 000 2001 3, 530, 000 2002 3, 330, 000 2003 3, 400, 000 For the purpose of selection of Bonds for mandatory redemption as set forth above, each $5, 000 principal amount of Bonds shall be treated as a separate Bond. The principal amount of any 1985 Term Bonds redeemed pursuant to the optional redemption provisions of Paragraph A of this Section may be deducted from the principal amount of 1985 Term Bonds required to be redeemed on the next mandatory redemption date. C. Notice of Call . Notice of any call for redemption shall be given not less than thirty (30) nor more than forty (40) days prior to the date fixed for redemption 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 have been complied with when notice is mailed as herein provided, regardless of whether or not it is actually received by the owner of any Bond. In addition, such redemption notice shall also be mailed within the same time period, postage prepaid, to Seattle-Northwest Securities Corporation, Seattle, Washington, and to Drexel Burnham Lambert, Kirchner Moore & Co. Subsidiary, Seattle, Washington, or to their successors in business, if any, and -15- WMD202 85/06/10