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<br />«Tel111 Bonds" means Bonds maturing on a Tenn Maturity Date, the principal of <br />which is subj ect to payment by mandatory redemption prior to stated maturity tbrough the <br />application of Mandatory Sinking Fund Redemption Requirements <br /> <br />"TennMaturity Date" means as to any Bonds, such date or dates on which Bonds <br />which are- Tenn Bonds, if any, mature at their stated maturities, as specified pursuant to this <br />Ordinance in the Certificate of Award. <br /> <br />"TIP Ordinance" means Ordinance No 64-04, passed by the Citji ë~ÙriCíl on <br />September 7, 2004, <br /> <br />SECTION 2, The Bonds shall be issued in one lot and only as fully registered <br />Bonds. The Bonds may be issued in the Minimum Authorized Denomination or any integral <br />multiple thereof, but in no case as to tl particular maturity date exceeding the principal amount <br />maturing on that date, The Bonds shall be dated as specified in the Certificate of Award, <br /> <br />The Bonds shall bear interest at the rate( s) specified in the Certificate of Award <br />(computed on the basis of a 360-day year, comprised of 12 30-day months), payable <br />semiannually on the dates specified in the Certificate of Award until the princip-al 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, from 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) Mandatory Sinking Fund Redemption If any of the Bonds are <br />issued as T~nn Bonds, the Tenn 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 Tenn Bonds shall include amounts sufficient to redeem on the <br />Mandatory Redemption Dates the principal amount of Term Bonds payable on those dates <br />pursuant to the Mandatory Sinking Fund Redemption Requirements (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 />Mandatory 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 preceding the applicable Mandatory Redemption Date, by furnishing <br />the Registrar a certificate, signed by the_ Fiscal Officer, setting forth the extent of the credit to be <br />applied with respect to the then current Mandatory Sinking Fund Redemption Requirement. If <br />the certificate is not timely furnished to the Registrar, the Mandatory 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 theréto have been redeemed ,(other than through the operation of the <br />Mandatory Sinking Fund Redemption Requirements) or purchased for cancellation and canceled <br />by th~ Registrar, to the extent not applied theretofore as a credit against any mandatory <br />redemption obligation. <br /> <br />Each Term Bond so delivered, or previous-Iy redeemed, or purchased and <br />canceled, shall be credíted by the Registrar at 100 percent of the principal amount thereof against <br />the then current Mandatory Sinking Fund Redemption Requirement (and corresponding <br />mandatory redemption obligation) Any excess of that amount over the then current Mandatory <br />Sinking Fund Redemption Requirement shall be credited against subsequent Mandatory Sinking <br />Fund Redemption Requirements (and corresponding mandatory redemption obIigatïons) in the <br />order directed by the Fiscal Officer <br /> <br />{CTOI24;l} <br /> <br />3 <br />