2013-05-22 Handouts @ Meeting - Laserfiche WebLink

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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 the Authority at succeeding and future principal installments to be prepaid pursuant to the Mandatory Redemption Schedule. The specific Term Bonds to be redeemed will be selected by lot by the Registrar. All prepayments will be at a price of par plus accrued interest. Section 5. Registration and Payment 5.01. The Bonds shall be issued only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft issued by the Registrar described herein. 5.02. Each Bond shall be dated as of the last interest payment date preceding the date of authentication to which interest on the Bond has been paid or made available for payment, unless (i) the date of authentication is an interest payment date to which interest has been paid or made available for payment, in which case such Bond shall be dated as of the date of authentication, or (ii) the date of authentication is prior to the first Interest Payment Date, in which case such bond shall be dated as of the date of original issue. The interest on the Bonds shall be payable to the owner of record thereof as of the close of business on the fifteenth day of the month preceding the interest payment date, whether or not such day is a business day. Section 6. Registration. The City appoints Northland Trust Services, Inc., Minneapolis, Minnesota, as bond registrar and paying agent (the "Registrar "). The effect of 6