65-217 Ordinance - Laserfiche WebLink

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Y Ls--211 ? - 2 - • . seid Utility and to lea've an ameunt of?cem?ntsandein?provemsnthrequirementeaof the interest, debt sarvice reserve and rep OutotandiN Iseue arid to meet the requiremnts herein provided with reapect to the Imcprovement Bonds, and,othQrwiee to comply with the covenants herein provided ror., and that it ia necessary forthwith to issue and sell the ImProvement Bonds in tho principal anwunt of $123,000 and having the terms provided Tor herein, the proceeds to be used for the Project and purposes incidental thereto and incidental to thQ isauance and sale of said Improvement Bonds, and, to the extent of any ba].e,nce after paying or providina f1il.l.y for the foregoina, for payment to the Bond Reserve Account of the Bond Flxnd. Section 2. Terms of I rovement Eonds. The Improverr.ent I3onds shall be d form as ma.y be requcsted by? the FYscal initially issued in coupon or fully registere Offi.cer and shall be exchangeable for fully registered or coupon bqnds in the manner and on the terms provided in the Mortgage. The Itnprovemnt I3onds in couPon form ehall be dated October l, 1965; shall be in the denamination of One Thousazid Dollars ($1,000) each; arA ehall Ue registrable as to principal; The Improvet?ent Bonds in fully registered t'orm shall be in the denomination af $1,000 or any multiple thereoP. Improvement Bonds in both coupon and registered forra shall be numbered as determined by the FYscal Officer. 'he Improvement Bonds shall bear interest at the rate per annum of four and one-quarter per centum (4-1/4%), such i.nterest to be payable semi-annually on June 1 and December 1 of each year beginning December l.. 1968 on bonds maturing in the years 1970 to 1985, inclusive, and beginning December 1, 1969 on bonds maturing in the years 1986 to 1990, inclusive, until the principal sum becomes due and payable. Said Improvement Bonds sha11 mture annuall,y on December 1 in their consecutive numerical order as follows: yF',ARS . $4,pOp 1970 to 1974 5,000 1975 to 1979 6,000 1980 to 1983 7,000 1984 to 1986 8,000 1987 to 1989 9,000 1990 The Improvement Bonds shall be subject to redemption in whole or in part in inverse numerical order on any interest payment date on and af`ter December 1, 1969 at par plus sccrued interest to the date fixed for redemption. Unless waived by the holder, notice of redergption specifying the numbers of the Improvement Bonds an3 (portions of fully registered Improvement Bonds) to 'oe called sh.all be published by the Tzwstee on behalf of the Municipality once a week for two consecutive weeks in a financial 3ournal of national circulation, the first publica,tion to be not more than forty (40) nor less than thirty (30) days prior to the date of redemptian, upon which clate all interest upon the Improveraent Bonds or portions thereoP so called shatl cease except for those a,s to which default shall be made, upon presentation, in the gQymsnt of the redemption price. Principal and interest on the Improvement Bonds shall be payable at the principL office of the Trustee hereinaPter provided for, except that interest on fully registered Improvement 8onds shall be payable by check or draft as provided in the Mortgage. ? . ?