My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
2018-045
ArdenHills
>
Administration
>
City Council
>
Resolutions
>
2010-2019
>
2018
>
2018-045
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
7/17/2018 3:28:47 PM
Creation date
6/26/2018 8:51:18 AM
Metadata
Fields
Template:
General
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
23
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
3 <br />526847v3 SEL AR200-20 <br /> 1.03. Purchase Contract. The amount proposed by the Purchaser in excess of the <br />minimum bid shall be credited to the Debt Service Fund hereinafter created or deposited in the <br />Construction Fund hereinafter created, as determined by the City Finance Director in <br />consultation with the City’s municipal advisor. The City Finance Director is directed to deposit <br />the good faith check or deposit of the Purchaser, pending completion of the sale of the Bonds, <br />and to return the good faith deposits of the unsuccessful proposers. The Mayor and City <br />Administrator are directed to execute a contract with the Purchaser on behalf of the City. <br /> <br /> 1.04. Terms and Principal Amounts of the Bonds. The City will forthwith issue and <br />sell the Bonds pursuant to the Act in the total principal amount of $2,415,000, originally dated <br />July 18, 2018, in the denomination of $5,000 each or any integral multiple thereof, numbered <br />No. R-1, upward, bearing interest as above set forth, and maturing serially on February 1 in the <br />years and amounts as follows: <br /> <br />Year Amount Year Amount <br /> <br />2020 $200,000 2025 $245,000 <br />2021 210,000 2026 255,000 <br />2022 220,000 2027 265,000 <br />2023 225,000 2028 275,000 <br />2024 235,000 2029 285,000 <br /> <br /> 1.05. Optional Redemption. The City may elect on February 1, 2027, and on any day <br />thereafter to prepay Bonds due on or after February 1, 2028. Redemption may be in whole or in <br />part and if in part, at the option of the City and in such manner as the City will determine. If less <br />than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in <br />Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine <br />by lot the amount of each participant’s interest in such maturity to be redeemed and each <br />participant will then select by lot the beneficial ownership interests in such maturity to be <br />redeemed. Prepayments will be at a price of par plus accrued interest. <br /> <br /> Section 2. Registration and Payment. <br /> <br /> 2.01. Registered Form. The Bonds will be issued only in fully registered form. The <br />interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by <br />check or draft issued by the Registrar described herein. <br /> <br /> 2.02. Dates; Interest Payment Dates. Each Bond will be dated as of the last interest <br />payment date preceding the date of authentication to which interest on the Bond has been paid or <br />made available for payment, unless (i) the date of authentication is an interest payment date to <br />which interest has been paid or made available for payment, in which case the Bond will be <br />dated as of the date of authentication, or (ii) the date of authentication is prior to the first interest <br />payment date, in which case the Bond will be dated as of the date of original issue. The interest <br />on the Bonds will be payable on February 1 and August 1 of each year, commencing February 1, <br />2019, to the registered owners of record thereof as of the close of business on the fifteenth day of <br />the immediately preceding month, whether or not that day is a business day.
The URL can be used to link to this page
Your browser does not support the video tag.