1998 Resolutions - Laserfiche WebLink

Home Browse Search

hereby promises to pay to the Registered Owner specified above or registered assigns, the principal sum of $ on the maturity date specified a~ove, with interest thereon from the date hereof at the annual rate specified above, payable February 1 and August 1 in each year, commencing February 1, 1999, to the person in whose name this Bond is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. The interest hereon and, upon presentation and surrender hereof, the principal hereof are payable in lawful money of the United States of America by check or draft by Firstar Trust Company, Milwaukee, Wisconsin, as agent for Firstar Bank of Minnesota, N.A., St. Paul, Minnesota, as Bond Registrar, Paying Agent, Transfer Agent and Authenticating Agent, or its designated successor under the Resolution described herein. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith and credit and taxing powers of the City have been and are hereby irrevocably pledged. The City may elect on February 1, 2005, and on any day thereafter to prepay Bonds due on or after February 1, 2006. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify Depository Trust Company (DTC) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. Mandatory Sinking Fund Redemption. The Term Bonds are subject to mandatory sinking fund redemption and shall be redeemed in part by lot at par plus accrued interest on the sinking fund installment dates and in the principal amounts as follows: Sinking Fund Installment Date Principal Amount February 1,) 2001 Term Bonds 2000 2001 (maturity) $50,000 55,000 2004 Term Bonds 2002 2003 2004 (Maturity) $55,000 55,000 60,000 2006 Term Bonds 2005 2006 (Maturity) $60,000 65,000 2009 Term Bonds 2007 2008 $70,000 70,000 DJK-148161 CE155-15