Ordinance 1029-84 - Laserfiche WebLink

notes) or to the registered owner (if registered) of the notes of such call at least ten days prior to the call date . Both principal of and interest on the notes shall be payable solely out of the "Local Improvement Fund, District No . 709" from the proceeds of local improvement district bonds authorized to be issued by Ordinance No . 812-81, as amended by Ordinance No. 940-83 , or other short-term obligations to be deposited in such fund and/or prepaid special benefit assessments deposited in such fund, and from the Local Improvement Guaranty Fund of the City, and shall be payable in lawful money of the United States of America at the office of the City Treasurer or , at the option of the holder, at either fiscal agency of the State of Washington in Seattle, Washington, or New York, New York . The City Council declares and finds that the fixing of the above maximum interest rate and index for variable rates is in the best interests of the City. Section 2 . For the purpose of providing part of the funds of paying, both principal and interest, and redeeming the Outstanding Notes, local improvement district bond anticipation notes of the District (the "Notes" ) shall be issued in the aggregate principal amount of $4 ,400, 000 . The Notes shall be numbered separately; shall be in the denomination of $5,000 or any integral multiple thereof; shall be dated May 17, 1984 ; shall mature on May 17, 1985; and shall bear interest at the rate of 7 . 50% per annum, payable at maturity, with full obligation on the part of the City to pay interest at the same rate from and after maturity until the Notes with interest are paid in full or until sufficient money for such payment in full is on deposit in the "Local Improvement Fund, District No. 709, " created by Ordinance No. 812-81, as amended by Ordinance No . 940-83 , and the Notes have been duly called for redemption by the City Treasurer ' s giving written notice to Harper , McLean & - 3 -