Ordinance 1065-84 - Laserfiche WebLink

• • Bonds maturing in the years 1984 through 1996, inclusive, shall be issued without the right or option of the City to redeem the same prior to their respective maturity dates . The City reserves the right to redeem Bonds maturing on or after September 1, 1997, in whole, or in part in inverse order of maturity (and by lot within a maturity in such manner as the Bond Registrar shall determine) on September 1, 1996, and on any interest payment date thereafter, at par plus accrued interest to the date fixed for redemption. Portions of the principal amount of any Bond, in amounts of $5 , 000 or any integral multi- ple of $5, 000, may be redeemed . If less than all of the princi- pal amount of any Bond is redeemed, upon surrender of such Bond at the principal office of the Bond Registrar, there shall be issued to the registered owner, without charge therefor, a new Bond or Bonds, at the option of the registered owner, of like maturity in the total principal amount of the unredeemed portion of such Bond in any of the denominations authorized by this ordinance. Notice on any such intended redemption shall be given not less than 30 nor more than 60 days prior to the date fixed for redemption by first class mail , postage prepaid, to the regis- tered 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 Bonds . 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 . In addition, such redemption notice shall be mailed within the same period, postage prepaid, to Moody' s Investor ' s Service, Inc . , and Standard & Poor ' s Corporation at their offices in New York, New York, or their successors, but - 4 -