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2002-09-25 CC Packet
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2002-09-25 CC Packet
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<br />, <br /> <br />bearing interest as above set forth, and maturing serially on February] in the years and amounts <br />as follows: <br /> <br />Year Amount Year Amount <br />2005 55,000 20]0 65,000 <br />2006 55,000 2011 70,000 <br />2007 60,000 20]2 70,000 <br />2008 60,000 2013 70,000 <br />2009 65,000 2014 75,000 <br /> <br />1.04. Optional Redemption. The City may elect on February ], 2008, and on any day <br />thereafter to prepay Bonds due on or after February ], 2009. Redemption may be in whole or in <br />part and if in part, at the option of the City and in such manner as the City will determine. If less <br />than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in <br />Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine <br />by lot the amount of each participant's interest in such maturity to be redeemed and each <br />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 />1.05. Term Bonds. To be completed if 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 is payable on February 1 and August 1 of each year, commencing August 1, 2003, <br />to the registered owners of record thereof as of the close of business on the fifteenth day of the <br />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 />SJB-219247vl <br />CEJ55-19 <br />
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