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<br />«Term Maturity Date" means as to any Bonds, such date or dates on which Bonds <br />which are Term Bonds, if any, mature at their stated maturities, as specified pursuant to this <br />Ordinance in the Certificate of Award. <br /> <br />SECTION 2 The Bonds shall be issued in one lot and only a& fully registered <br />Bonds. The Bonds may be issued in the :Minimum Authorized Denornlliation or any integral <br />multiple thereof: but in no case as to a particular maturity date exce~ding the principal amount <br />maturiug on that date. The Bonds shall be dated as specified in the Certificate of Award. <br /> <br />The Bonds &hall bear interest at the rate(&) specified in the certificate of Award <br />(computed on the basis of a 360-dsy year, compri&ed of 12 30-day months), payable <br />semiannually on the dates specified in the Certificate of Award, until the principal amount has <br />been paid or provided for, The Bonds shall bear interest from the most recent date to which <br />interest has been paid or provided for or, if no interest has been paid or provided for, ITom their <br />date <br /> <br />follows· <br /> <br />SECTION 3 The Bonds shall be subject to redemption prior to stated maturity as <br /> <br />(a) Mandatorv Sinking Fund RedemDtion. If any of the Bonds are <br />issued as Tenn Bonds, the Term Bonds shall be subject to mandatory sinking fund redemption <br />and be redeemed pursuant to Mandatory Sinking Fund Redemption Requirements, at a <br />redemption price of 100 percent of the principal amount redeemed, plus interest accrued to the <br />redemption date, on the Mandatory Redemption Dates <br /> <br />The aggregate of the moneys to be deposited with the Registrar for payment of <br />principal of and interest on any Term Bonds shall include amounts sufficient to redeem on the <br />Mandatory Redemption Dates the principal amount of Term Bonds payable on those dates <br />pnrsnant to the Mandatory Sinking Fund Redemption Requirement& (less the amount of any <br />credit as provided below) <br /> <br />The City shall have the option to deliver to the Registrar for cancellation Term <br />Bonds in any aggregate principal amount and to receive a credit against the then current <br />Mandstory Sinking Fund Redemption Requirement (and corresponding mandatory redemption <br />obligation) of the City for any Term Bonds. That option shall be exercised by the City on or <br />before the forty-fifth day precediug the applicable Mandstory Redemption Date, by furnishiug <br />the Registrar a certificate, signed by the Fiscal Officer, setting forth the ëxtent of the credit to be <br />applied with respect to the then current Mandstory Sinking Fund Redemption Requirement. If <br />the certificate is not timely furnished· to the Registrar, the Mandstory Sinking Fund Redemption <br />Requirement (and corresponding mandatory redemption obligation) shall not be reduced. A <br />credit against the then current Mandatory Sinking Fund Redemption Requirement (and <br />corresponding mandatory redemption obligation) also shall be received by the City for any Term <br />Bonds which prior thereto have been redeemed (other than through the operation of the <br />Mandatory Sinking Fund Redemption Requirements) or purchased, for cancellation and canceled <br />by the Registrar" to the extent not applied theretofore as a credit against any mandatory <br />redemption oblig~tion. <br /> <br />Each Term Bond so delivered, or previously redeemed, or purchased and <br />canceled, shall be credited by the Registrar at 100 percent of the priucipal amount thereof against <br />the then current Mandatory Sinking Fund Redemption Requirement (and correspondiug <br />mandatory redemption obligation), Any- excess of that amount over the then current Mandatory <br />Sinking Fund Redemption Requirement shall be credited against sub&equent Mandatory Sinking <br />Fund Redemption Requirements (and corresponding mandatory redemption obligations) in the <br />order directed by the Fiscal Officer. <br /> <br />(b) Ootional RedemDtion. The Bonds shall be subject to redemption <br />prior to maturity by and at the option of the City, in whole at any time, or in part on any Interest <br />Payment Date, on the dates and for the prices specified in the Certificate of Award, provided, <br />however, that the Fiscal Officer may determine in the Certificate of Award that it is in the best <br />interest of the City that the Bonds not be subject to redemption prior to maturity, lfthe Bonds <br />are subject to, optional redemption prior to maturity, the maximum redemption price shall be no <br /> <br />{CT0126;1} <br /> <br />3· <br />