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08-83 Hospital Improvement revenue bonds
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08-83 Hospital Improvement revenue bonds
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Last modified
5/14/2013 3:05:55 PM
Creation date
8/22/2003 4:52:45 AM
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Office Of Council
Document Type
Ordinances
Date
8/22/2003
Date Adopted
2/26/1983
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made with the approval of the Trustee shall constitute a sufficient pub- <br />lication of such notice. Notice of the call for redemption shall also <br />be given by mailing a copy of the redemption notice by registered or <br />certified mail at least thirty days prior to the date fixed for redemp- <br />tion to the holder or holders of each fullY registered Bond or portion <br />thereof to be called for redemption at the address shown on the regis- <br />tration books kept by the Trustee and to any holder or holders of coupon <br />Bonds to be called for redemption whose address is shown on the list of <br />Bondholders maintained pursuant to Section 18 of this Bond Legislation <br />at such address; proVided, however, that failure to give such notice to <br />any Bondholder by mailing, or any defect in such notice so mailed, shall <br />not affect the validity of the proceedings for the redemption of the <br />Bonds. If at the time such notice is to be given, all the Bonds to be <br />called for redemption are registered Bonds, then notice by publication <br />shall not be required, and notice by mailing to the holders of such <br />Bonds in accordance with this Section shall constitute sufficient <br />notice. <br /> <br /> If Bonds or portions of fully registered Bonds are duly called <br />for redemption and if on such redemption date moneys for the redemption <br />of all Bonds to be redeemed, together with interest to the redemption <br />date and any applicable redemption premium, shall be held by the Trustee <br />or Paying Agents so as to be available therefor, then from and after <br />such redemption date such Bonds or portions of fully registered Bonds <br />shall cease to bear interest and any coupons for interest thereon matur- <br />ing subsequent to the redemption date shall be void. <br /> <br /> (i) Certificate of Award. The Executive and the Fiscal <br />Officer are, and each of them is, hereby authorized and directed <br />promptly to negotiate the sale of the Series 1983-A Bonds to the Origi- <br />nal Purchaser designated pursuant to Subsection (j) of the Section 7 <br />upon terms consistent with this Bond Legislation, and to determine and <br />specify in the Certificate of Award the following terms and provisions <br />of or with respect to the Series 1983-A Bonds: <br /> <br /> (i) the aggregate principal amount, provided that such <br />amount shall not exceed $40,000,000 if the Series 1983-A Bonds are to be <br />initially offered to the public at a price equal to or greater than 98 <br />percent of their aggregate par amount, and shall not exceed $80,000,000 <br />if any of the Series 1983-A Bonds are to be initially offered to the <br />public at an original issue discount aggregating more than 2 percent of <br />the aggregate par amount of the Series 1983-A Bonds; <br /> <br /> (ii) the Specified Interest Rates, provided that the <br />average yield to the public on the initial offering of the Series 1983-A <br />Bonds shall not exceed 10.75% (ten and three-quarters percent); <br /> <br /> (iii) the Purchase Price, provided that the aggregate amount <br />of the Purchase Price shall be not less than 97% (ninety-seven percent) <br />of the aggregate principal amount of the Series 1983-A Bonds if they are <br />to be initially offered to the public at a price equal to or greater <br />than 98 percent of their aggregate par amount, and shall be not less than <br /> <br />-19- <br /> <br /> <br />
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