Ordinance 536-78 - Laserfiche WebLink

• - . Section 2. Provisions ofRefunding the Refunded Obligations. The City, by the Ordinance, has irrevocably called the Water Revenue Bonds, 1965 maturing in the years 2003 and 2004 for redemption prior to maturity as set forth below: Bond Nos. Maturity Years Call Date Call Price 2082-2237 2003 December 1, 1996 Par 2238-2305 2004 December 1, 1996 Par 2311-2342 2004 December 1, 1996 Par 2344-2400 2004 December 1, 1996 Par The Refunding Trustee, in concert with the proper officials of the City, shall provide for publication and mailing of the proper notices of such redemption and prepayment of the Water Revenue Bonds, 1965, in accordance with the provisions of Ordinanace No. 4113, of the City. Principal and interest on the remaining Refunded Obligations will be paid as the same shall become due. To accomplish the refunding of the Refunded Obligations , the City, simultaneously with the delivery of the Bonds issued pursuant to the Ordinance, does hereby agree to irrevocably deposit with the Refunding Trustee in trust for the security and benefit of the holders and owners of the Refunded Obligations the obligations of the United States or its agencies ( "Acquired Obligations" ) described in the schedule attached hereto, and necessary beginning cash balances, to provide in full for the payment of the principal of and interest on the Water Revenue Bonds, 1965 maturing in the years 2003 and 2004, coming due prior to and including their date of redemption as set forth above, the redemption price payable on such date for such Water Revenue Bonds , 1965, and the principal of and interest on the remaining 1965 Water Revenue Bonds and all other Refunded Obligations as the same shall become due. The Acquired Obligations shall be paid for out of the pro- ceeds of sale of the Bonds, and out of other available funds of the City. -2-