Ordinance 536-78 - Laserfiche WebLink

• • Bond Nos. Maturity' Years Amount Interest Rate 1-31 1984 $155 , 000 6. 50% 32-165 1985 670 , 000 6. 50% 166-309 1986 720, 000 6. 50% 310-462 1987 765 , 000 6. 50% 463-626 1988 820 , 000 6. 25% 627-800 1989 870 ,000 6. 25% 801-962 1990 810 , 000 6 . 00% 963-1102 1991 700 , 000 6. 00% 1103-1247 1992 725, 000 6. 10% 1248-1404 1993 785 , 000 6. 20% 1405-1569 1994 825 , 000 6 .20% 1570-1743 1995 870 , 000 6. 30% 1744-1928 1996 925 , 000 6. 40% 1929-2124 1997 980, 000 6. 50% 2125-2295 1998 855 , 000 6. 60% 2296-2404 1999 545, 000 6 . 60% 2405-2526 2000 610 , 000 6. 70% 2527-2656 2001 650 , 000 6. 70% 2657-2795 2002 695, 000 6 . 75% 2796-2943 2003 740 , 000 6 . 75% 2944-3096 2004 765 , 000 6. 80% Both principal of and interest on the Bonds shall be 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 Bonds shall be obligations only of the Revenue Bond Fund and shall be payable and secured as provided herein. The Bonds shall not be general obligations of the City. Section 5 . Redemption Prior to Maturity. The City hereby reserves the right to redeem the outstanding Bonds maturing after July 1, 1993 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: July 1, 1993 and January 1, 1994 , at 102% July 1, 1994 and January 1, 1995 , at 101. 5% July 1, 1995 and January 1, 1996, at 101% July 1, 1996 and January 1, 1997 , at 100. 5% July 1, 1997 and on any semiannual 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. -12-