Ordinance 410-76 - Laserfiche WebLink

• The Bonds shall be dated 'September 1, 1976 , shall be in the denomination of $5, 000 each, shall bear interest at such rate or rates as shall be fixed by the City Council upon the sale thereof, payable on the first day of March, 1977 and semiannually thereafter on the first days of March and September of each year, and shall be numbered and mature on September 1 of each of the following years in the following amounts : Bond Nos. Years Amounts 1-8 1978 $ 40, 000 9-16 1979 40 , 000 1/-25 1980 45 , 000 26-35 1981 50 , 000 36-45 1982 50 , 000 46-56 1983 55 , 000 57-67 1984 55, 000 68-79 1985 60 , 000 80-92 1986 65 , 000 (The above schedule has been computed on an assumed interest rate of 6% per annum. ) 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 the City Hall 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, or New York, New York. Section 3. The City hereby reserves the right to redeem any or all of the Bonds outstanding in inverse numerical order on any interest payment date on and after September 1, 1981, at par plus accrued interest to the date of redemption. Notice of any such intended 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 redemption date and by mailing a like notice at the same time to the main office of the purchaser or account manager of the purchasers of the Bonds at their sale by the City or to the business successor or successors, if any, of said purchaser or account manager at its main office. Interest on any Bond or Bonds so called for redemption shall -2-