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<br />(e) Redemption Provisions. The Bonds shall be subject to redemption prior to stated <br />maturity as follows: <br />(i) Mandatory Sinking Fund Redemption. If any of the Bonds are issued as <br />Term Bonds, the Term Bonds shall be subject to and redeemed pursuant to Mandatory <br />Sinking Fund Redemption on the Mandatory Sinking Fund Redemption Dates applicable to <br />the Term Bonds set forth in the Certificate of Award at a price equal to 100% of the <br />principal amount of the Term Bonds to be redeemed plus accrued interest to the applicable <br />Mandatory Sinlang Fund Redemption Date. <br />The City shall have the option to deliver to the Bond Registrar for cancellation Term <br />Bonds in any aggregate principal amount and to receive a credit against the then current or <br />any subsequent Mandatory Sinking Fund Redempfion (and corresponding mandatory <br />redemption obligation) of the City for Term Bonds stated to mature on the same. Principal <br />Payment Date as the Term Bonds so delivered. That option shall be exercised by the City <br />on or before the 15th day preceding any Mandatory Redemption Date with respect to which <br />the City wishes to obtain a credit, by furnishing the Bond Registrar a certificate, signed by <br />the Director of Finance, setting forth the extent of the credit to be applied with respect to the <br />then current or any subsequent Mandatory Sinking Fund Redemption for Term Bonds stated <br />to mature on the same Principal Payment Date. If the certificate is not timely famished to <br />the Bond Registraz, the current Mandatory Sinking Fund Redemption (and corresponding <br />mandatory redemption obligation) shall not be reduced. A credit against the then current or <br />any subsequent Mandatory Sinking Fund Redemption (and corresponding mandatory <br />redemption obligation) also shall be received by the City for any Term Bonds which prior <br />thereto have been redeemed (other than through the operation of the applicable Mandatory <br />Sinking Fund Redemption) or purchased for cancellation and canceled by the Bond <br />Registrar, to the extent not applied theretofore as a credit against any Mandatory Sinking <br />Fund Redemption, for Term Bonds stated to mature on the same Principal Payment Date as <br />the Term Bonds so redeemed or purchased and canceled. <br />Each Term Bond so delivered, or previously redeemed, or purchased and canceled, <br />shall be credited by the Bond Registrar at 100% of the principal amount thereof against the <br />then current or subsequent Mandatory Sinking Fund Redemption (and corresponding <br />mandatory redemption obligations) for Term Bonds stated to mature on the same Principal <br />Payment Date as the Term Bonds so delivered, redeemed or purchased and canceled. <br />(ii) Optional Redemption. Certain maturities of the Bonds may be subject to <br />optional redemption by and at the sole option of the City, in whole or in part in integral <br />multiples of $5,000 on the dates, in the years and at the redemption prices (expressed as a <br />percentage of the principal amount to be redeemed), plus accrued interest to the redemption <br />date, all to be determined by the Director of Finance in the Certificate of Award provided <br />that the earliest optional redemption date shall not be eazlier than December 1, 2019 or later <br />than December 1, 2022, and the redemption price shall not be greater than 103%. <br />If optional redemption of Term Bonds at a redemption price exceeding 100% of the <br />principal amount to be redeemed is to take place as of any Mandatory Redemption Date <br />7 <br />