Ordinance 713-80 - Laserfiche WebLink

itself indebted and for value received promises to pay to bearer, solely from the sources herein referred to, the principal sum of FIVE THOUSAND DOLLARS on the first day of July, 19 , unless redeemed prior thereto as herein provided, with interest thereon from the date hereof at the rate of % per annum until such principal sum is paid or payment has been duly provided for, payable July 1, 1981, and semiannually thereafter on the first days of January and July. Payment of the interest due on or before the maturity of this bond shall be made only upon presentation and surrender of the coupons representing such interest as the same respectively become due. Both principal of and interest on this bond are payable in lawful money of the United States of America, at the office of the Treasurer of the City in Everett, Washington, or, at the option of the holder, at either of the fiscal agencies of the State of Washington in the cities of Seattle, Washington, and New York, New York. The City has reserved the right to redeem the outstand- ing bonds maturing after July 1, 1992 , in whole, or in part in inverse numerical order, 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 Rate On July 1, 1992 and January 1, 1993 at 102% On July 1 , 1993 and January 1, 1994 at 101% On July 1, 1994 and on any interest payment date thereafter at 100% . Interest on any bonds so called for redemption shall cease on such redemption date unless the same shall not be redeemed upon presentation made pursuant to such call. Notice of any such redemption shall be given by one publication thereof in the official City newspaper not more than forty nor less than thirty days prior to said redemp- tion date, and by mailing a like notice at the same time to Seattle-Northwest Securities Corporation, Seattle, Wash- ington, or the successor in business thereof at its main office. In addition, such notice of redemption shall also be mailed to Moody' s Investors Service, Inc. , and to Stan- dard & Poor' s Corporation at their main offices in New York, New York, or to the business successors of such firms , if any, at their main offices. This bond is one of an issue of four thousand bonds of the City of like denomination, date and tenor except as to number, rate of interest, and date of maturity in the aggregate principal amount of $20, 000 , 000. This issue of bonds is authorized by Ordinance No. of the City (here- in called the "Bond Ordinance") for the purpose of providing money to pay part of the cost of acquiring, constructing and making certain additions and improvements to the water and sewer system of the City, all in conformity with the laws of the State of Washington. -24-