81-144 Ordinance - Laserfiche WebLink

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of costs of acquiring, constructing, improving, furnishing and equipping the Project for the Project Purposes. The Project Bonds shall be desig- nated Industrial Development Revenue Bonds (West Shore Cable TV Proj- ect)". The Issuer may also issue, sell and deliver Additional Bonds on a parity with the Project Bonds for the purposes and pursuant to the provisions of Section 8 of this Bond Legislation. The Project Bonds shall be initially issued in coupon or fully registered form as may be requested by the Original Purchaser thereof, shall be exchangeable for fully registered or coupon bonds in the manner and on the terms provided in the Indenture, and shall be numbered as determined by the Executive_Officer. Project Bonds in coupon form shall be in the denomination of $5,000 each, shall be registrable as to princi- pal, and shall be dated as of December 15, 1981. Project Bonds in fully registered form shall be in the denomination of $5,000 and any multiple thereof permitted by the Indenture, and shall be dated as of December 15, 1981 if authenticated prior to the first Interest Payment Date on the Project Bonds, and otherwise shall be dated as of the Interest Payment ,Aate next preceding the date of their authentication except that if authenticated on an Interest Payment Date they shall be dated as of such date of authentication; provided that if at the time of authentication interest thereon is in default, they shall be dated as of the date to which interest has been paid. The Project Bonds shall bear interest from their respective dates at the rate of interest per annum, payable on each Interest Pay- ment Date , and shall mature on De cember 15, in the years and in the principal amounts, all as set opposite the years a s follows: Maturity Principal Interest Maturity Principal Interest Year Amount Rate Year Amount Rate 1984 $375,000 9.750/0' 1988 $375,000 11.5000 1985 375,000 10.00 1989 375,000 12.00 1986 375,000 10.50 1990 375,000 12.25 1987 375,000 11.00 1991 375,000 12.50 The Project Bonds are subject to redemption prior to stated maturity in the event of the exercise by the Company of its option to direct such redemption upon the occurrence of any of the events speci- fied in Section 6.3 of the Agreement. If called for redemption upon the occurrence of any such events, the Project Bonds shall be subject to redemption by the Issuer on any Interest Payment Date, in whole or (in the case of redemption in the event of condemnation of the Project or part thereof, as provided in Section 6.3 of the Agreement) in part, at a redemption price of one hundred percent (100%) of the principal amount thereof, plus accrued interest to the redemption date. The Project Bonds also are subject to special mandatory redemp- tion prior to stated maturity upon a final determination that, as a result of a failure by the Company to observe its agreement contained in Section 5.17 of the Agreement, interest on the Project Bonds is wholly BR-8