1991 015 Ordinance - Laserfiche WebLink

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ORDINANCE N0. 91- 15 PAGE TWO Section 2. The registered bonds, in the thereof, but in no case principal amount maturing 1, 1991, or such other Ordinance. Bonds shall be issued in one lot and only as fully denominations of $5,000 or any integral multiple as to a particular maturity date exceeding the on that date. The Bonds shall be dated as of July date as shall be specified in the Final Terms The Bonds shall bear interest at the rates per year (computed on a 360-day per year basis) set forth below, payable on June 1 and December 1 of each year (the Interest Payment Dates), commencing December 1, 1991, or such other date as shall be specified in the Final Terms Ordinance, until the principal amount has been paid or provided for. If the Bonds are sold bearing a different rate or rates of interest, the Bonds shall bear the rate or rates of interest as specified in the Final Terms Ordinance. The Bonds of any one maturity shall all bear the same rate of interest. The Bonds shall bear interest from the most recent date to which interest has been paid or provided for or, if no interest has been paid or provided for, from July 1, 1991. The Bonds shall mature on December 1 of each year and bear interest, as follows: Principal Principal Maturity Amount Interest Maturity Amount Interest Year Maturing Rate Year Maturing Rate 1992 $35,000 4.8% 1997 $45,000 6.0% 1993 35,000 5.2 1998 $45,000 6.1 1994 40,000 5.4 1999 50,000 6.2 1995 40,000 5.6 2000 55,000 6.3 1996 40,000 5.8 2001 55,000 6.4 Those ma turities are determined to be such that the total principal and interest payments on the Bonds in any fiscal year in which principal is payable are substantially equal. Section 3. The Bonds shall be signed by the Mayor and the Director of Finance, in the name of the Village and in their official capacities, provided that either or both of those signatures may be a facsimile. The Bonds shall be issued in the denominations and numbers as requested by the original purchaser and approved by the Director of Finance, shall be numbered as determined by the Director of Finance, and shall express upon their faces the purpose, in summary terms, for which they are issued and that they are issued pursuant to this ordinance and the Final Terms Ordinance. No Bond shall be valid or obligatory for any purpose or shall be entitled to any security or benefit under this ordinance and the Final Terms Ordinance unless