36-07 Retire Outstanding Notes - Laserfiche WebLink

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2009 230,000 2019 355,000 2010 245,000 2020 370,000 201l 260,000 2021 380,000 2012 265,000 2022 300,000 2013 275,000 2023 315,000 2014 285,000 2024 325,000 2015 300,000 2025 340,000 2016 3053000 2026 355,000 Wac Director of Finance may adjust the principal payment schedule shown above. within the lim/tatians of Section 133.21, Revised Code, by (1) increasing or decreasing the principal mount of the Bonds maturing or payable by Mandatory 8inking Fund Redemption on any one or more of the Principal Payment Dates or by shortening the schedule so that the Bonds will mature over a lesser number of years. The Director of Finance must set forth any adjusunent of the principal payment schedule in the Certificate of Award. This Council authorizes and directs the Director of Finance to prepare separate maturity schedules for each of the issues of bonds anticipated by each separate issue of the Outstanding Notes and to include those separate maturity schedules in the Certificate of Award, demonstrating compliance of each of those bond issues with the separate periodic maturity or principal payment limitations in Section 133.2l (A), Revised Code. Redemption Before Stated Maturity. The Bonds will be subject to redemption before their stated maturity as desesibed in this Section 2(d), unless otherwise determined by the Director of Finance in the Certificate of Award. (1) Mandatory Sinking Fund Redemption If any of the Bonds are issued as Term Bonds. the Term Bonds will be subject to Mandatory Sinking Fund Redemption, in parr. on the Mandatory Redemption Dates, at a redemption price of 100% of the principal amount being redeemed, plus interest accrued to the redemption date. The principal amounts to be paid by Mandatory Si~fldng Fund Redemption will be those in the principal payment schedule in Section 2(c) above, unless otherwise determined in the Certificate of Award. (2) The City will have the option to deliver Term Bonds in any principal amount to the Registrar for cancellation. The City will be entitled to a credit against its obligation to pay Debt Charges by Mandatory Sinldng Fund Redemption on any future Mandatory Redemption Date for Term Bonds that (A) are delivered by the City to the Registrar, (B) have previously been redeemed other than by Mandatory Sitddng Fund Redemption, or (C) have been purchased and canceled by the Registrar as provided in the Registrar A~'eement. Optional Redemption. Unless otherwise determined by the Director of Firmnce in the Certificate of Award, the Bonds maturing on or after December 1, 2017 will be subject to redemption, at the option of the City, on or after June 1,2017, in whole~ or in part on any date, in integral multiples of $5;000~ at the redemption price of 100% of the principal amount being redeemed, plus interest accrued to the redemption date. The Director of Finance may detenrdue to change the optional redemption provisions relating to the Bonds set forth above by (A) changing the earliest optional redemption date, which may be any date before the final maturity of the Bonds, and (B) changing the redemption pr3eas for the Bonds, wtfich may not exceed 110% in may year in which the Bonds are subject to optional redemption. The Director of Finance must set forth any change to the optional redemption provisions in the Certificate o f A,Tvard. The City's option to redeem the Bonds must be exercised by a notice fi:o~n the Director of Finance to the Registrar as provided in the Registrar Agreement.