2013-05-22 Handouts @ Meeting - Laserfiche WebLink

Home Browse Search

At the option of the City, Bonds maturing on or after February 1, 2021, shall each be subject to call and prior payment on February 1, 2020, or on any date thereafter at a price equal to the principal amount thereof to be redeemed plus interest accrued to the date of redemption. Redemption may be in whole or in part of the Bonds subject to prepayment. If redemption is in part, the selection of the Bonds remaining unpaid to be prepaid shall be at the discretion of the City. If only part of the Bonds having a common maturity date are called for prepayment the City will notify the Depository of the particular amount of such maturity to be prepaid. The Depository will determine by lot the amount of participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interest in such maturity to be redeemed. Bonds maturing in the year(s) 2020, 2025, 2027, and 2029 (the "Term Bonds ") are subject to mandatory redemption on February 1 in the years and principal amounts as follows: Mandatory Redemption Schedule Term Bonds Due 2020 Term Bonds Due 2027 Redemption Redemption (February) Amount (February 1) Amount 2016 $10,000 2026 $165,000 2017 $10,000 2027 $170,000 2018 $10,000 2019 $10,000 2020 $10,000 Term Bonds Due 2025 Term Bonds Due 2029 Redemption Redemption (February 1) Amount (February 1) Amount 2024 $160,000 2028 $170,000 2025 $160,000 2029 $150,000 or, if less than such amount is then outstanding, an amount equal to the aggregate principal amount of the Bonds then outstanding. The City may, at its option, to be exercised on or before the thirtieth day preceding any mandatory redemption date specified above deliver to the Registrar written notice which shall (a) specify a principal amount of Term Bonds previously redeemed (otherwise than pursuant to the above Mandatory Redemption Schedule) or purchased and cancelled by the Registrar and not theretofore applied as a credit against any redemption of Term Bonds pursuant to the above Mandatory Redemption Schedule, and (b) instruct the Registrar to apply the principal amount of such Term Bonds so delivered or previously redeemed or purchased and cancelled for credit against the principal installments to be prepaid pursuant to the Mandatory Redemption Schedule. Each such Term Bond so delivered or previously redeemed or purchased and cancelled shall be credited by the Registrar in the order directed by 10