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1998 Resolutions
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1998 Resolutions
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<br />Year Amount Year Amount <br />2000 $60,000 2005 $75,000 <br />2001 60,000 2006 75,000 <br />2002 65,000 .2007 80,000 <br />2003 65,000 2008 85,000 <br />2004 70,000 2009 85,000 <br /> <br />1.05. Optional Redemption. The City may elect on February 1,2005, and on any day <br />thereafter to prepay Bonds due on or after February 1, 2006. Redemption may be in whole or <br />in part and if in part, at the option of the City and in such manner as the City will determine. <br />If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as <br />defined in Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will <br />determine by lot the amount of each participant's interest in such maturity to be redeemed and <br />each 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 />1.06. Term Bonds. (To be completed in Term Bonds are requested by the Purchaser.) <br /> <br />Section 2. <br /> <br />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 <br />or made available for payment, unless (i) the date of authentication is an interest payment date <br />to 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 />1999, to the registered owners of record thereof as of the close of business on the fifteenth day <br />of the immediately preceding month, whether or not that day is a business day. <br /> <br />2.03. Registration. The City will appoint a bond registrar, transfer agent, authenticating <br />agent and paying agent (Registrar). The effect of registration and the rights and duties of the <br />City and the Registrar with respect thereto are as follows: <br /> <br />(a) Register. The Registrar must keep at its principal corporate trust office a <br />bond register in which the Registrar provides for the registration of ownership of Bonds <br />and the registration of transfers and exchanges of Bonds entitled to be registered, <br />transferred or exchanged. <br /> <br />(b) Transfer of Bonds. Upon surrender for transfer of a Bond duly endorsed <br />by the registered owner thereof or accompanied by a written instrument of transfer, in <br />form satisfactory to the Registrar, duly executed by the registered owner thereof or by an <br /> <br />DJK144119 <br />CE1SS-13 <br />
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