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r <br /> <br />-2- <br />Notes together with interest accrued thereon to the date of <br />prepayment. The City's rigtit of prepayment shall be <br />exercised by mailing a notice of prepayment, stating the date <br />of prepayment and the name and address of the Paying Agent, <br />by certified or registered mail to the original purchaser of <br />the Notes not less than seven days prior to the date of that <br />deposit, unless that notice is waived by the original <br />purchaser of the Notes. If money for prepayment is on <br />deposit with the Paying Agent on the specif.ied prepayment <br />date foliowing the giving of that notice (unless the <br />requirement of that notice is waived as stated above), <br />interest on the principal amount prepaid shall cease to <br />accrue on the prepayment date, and upon the request of the <br />Director of Finance the original purchaser of the Notes shall <br />arrange for the delivery of the Notes at the designated <br />office of the Paying Agent for prepayment and surrender and <br />cancellation." <br />Section 2. Section 4 of Ordinance No. 92-34 as it was passed on <br />April 7, 1992 is hereby repealed. <br />Section 3. This Council finds and determines that all formal actions <br />of this Council concerning and relating to the passage of this ordinance were <br />taken in an open meeting of this Council and that all deliberations of this <br />Council and of any committees that resulted in those formal actions were in <br />meetings open to the public in compliance with the law. <br />Section 4. This ordinance is declared to be an emergency measure <br />necessary for the immediate preservation of the ptiblic peace, health, safety <br />and welfare of the City, and for the further reason that this ordinance is <br />required to be immediately effective in order to issue and sell the Notes, <br />which is necessary to enable the City to timely retire its outstanding Notes <br />and thereby preserve its credit; wherefore, this ordinance shall be in full <br />force and effect immediately upon its passage and approval by the Mayor. <br />? <br />i <br />Passed: 1992 <br />, <br />-} - ? <br />r ? <br />At t e s t: <•..???;??-•- <br />I Clerk of Counci ... President of Counc' <br />( <br />Approved: Z , 1992 <br />i l_ r? • L <br />W / / (J' , ?")L'L?? <br />Mayor