Ordinance 941-83 - Laserfiche WebLink

order, on July 1, 1993, or on any interest payment date there- after, at the following times and at the following prices expressed as a percentage of par, plus accrued interest to the date of redemption: Redemption Date Redemption Price July 1, 1993, and January 1, 1994 102 . 00% July 1, 1994, and January 1, 1995 101. 50% July 1, 1995, and January 1, 1996 101. 00% July 1, 1996, and January 1, 1997 100. 50% July 1, 1997, and thereafter 100. 00% Notice of any such intended redemption shall be given by one publication thereof in the official newspaper of the City not more than forty (40) nor less than thirty (30) days prior to such redemption date, and by mailing a like notice at the same time to Seattle-Northwest Securities Corporation at its main office in Seattle, Washington, or to the successor in business of such firm, if any, at its main office. In addition, such notice of redemp- tion shall also be mailed to Moody' s Investors Service, Inc. and to Standard & Poor' s Corporation at their main offices in New York, New York, or to their successors in business, if any, at their main offices, but none of such mailings shall be a condition precedent to the call of the Bonds for redemption. Interest on any bonds so called for redemption shall cease on such redemption date unless the same shall not be paid in full upon presentation made pursuant to such call. 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 5 of this ordinance, or other available funds, to purchase any of the 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; -9- WMD20 83/05/02