2007-11-14 CC Packet - Laserfiche WebLink

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.........". Atthe.opti9~.of the(~ity,B.onds maturing?n ()r after June 1, 2012, shalleachbe subject to call aridpri.or paYment on June 1, 2011, or .on any date thereafter at a price equal t.o the' principal am.ount there.of t.o be redeemed plus interest accrued t.o the date .of redemptiQn. Redempti.on may be in whQle .or in part.of the BQnds subject tQ prepayment. If redemptiQn is in part, the selectiQn .of the BQnds remaining unpaid t.o be prepaid shall be at the discreti.on .of the City. If .only part .of the BQnds having a CQmmQn maturity date are called fQr prepayment the City will nQtify the DepQsitQry .of the particular amQunt .of such maturity tQ be prepaid. The DepQsitQry will determine by lQt the amQunt .of participant's interest in such maturity tQ be redeemed and each participant will then select by lQt the beneficial .ownership interest in such maturity tQ be redeemed. (To be used if term bonds are included) BQnds maturing in the year(s) (the "Term BQnds") are subject tQ mandatQry redemptiQn .on June 1 in the years and principal amQunts as fQllQws: MandatQry RedemptiQn Schedule Term BQnds Due Tenn BQnds Due RedemptiQn (June 1) RedemptiQn (June 1) AmQunt AmQunt Term BQnds Due Tenn BQnds Due RedemptiQn (June 1) AmQunt RedemptiQn (June 1) AmQunt .or, if less than such amQunt is then .outstanding, an amQunt equal tQ the aggregate principal amQunt .of the BQnds then .outstanding. The City may, at its QptiQn, tQ be exercised .on .or befQre the thirtieth day preceding any mandatQry, redemptiQn date specified abQve deliver tQ the Registrar written nQtice which shall (a) specify a principal amQunt .of Term BQnds previQusly redeemed (.otherwise than pursuant tQ the abQve MandatQry RedemptiQn Schedule) .or purchased and cancelled by the Registrar and nQt theretQfQre applied as a credit against any redemptiQn .of Term BQnds pursuant tQ the abQve MandatQry RedemptiQn Schedule, and (b) instruct the Registrar tQ apply the principal amQunt .of such Term BQnds SQ delivered .or previQusly redeemed .or purchased and cancelled fQr credit against the principal installments tQ be prepaid pursuant tQ the MandatQry RedemptiQn Schedule. Each such Term BQnd SQ delivered .or previQusly redeemed .or purchased and cancelled shall be credited by the Registrar in the .order directed by the City at succeeding and future principal installments tQ be prepaid pursuant tQ the MandatQry RedemptiQn Schedule. 11