2000-11-08 Packet - Laserfiche WebLink

Home Browse Search

of a single maturity through book entries made on the books and records of DTC and its participants. Principal and interest are payable by the registrar to DTC or its nominee as registered owner of the Bonds. Transfer of principal and interest payments to participants of DTC will be the responsibility of DTC; transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nominees of beneficial owners. The purchaser, as a condition of delivery of the Bonds, will be required to deposit the Bonds with DTC. Optional Redemption The City may elect on February 1, 2006, and on any day thereafter, to prepay Bonds. Y Y azY Y Y P 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 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 Redemption Any term bonds issued will be subject to mandatory sinking fund redemption in part prior to their scheduled maturity dates on February 1 of certain years, as more fully described in the Details of the Bonds section herein, at a price of par plus accrued interest to the date of redemption. Interest Interest on the bonds will be payable on February 1, 2001, and semiannually thereafter on each February 1 and August 1. Bonds maturing on the same date must bear interest from date of issue until paid at a single, uniform rate, not exceeding the rate specified for bonds of any subsequent maturity. Each rate must be in an integral multiple of 1/20 or 1/8 of 1 %. Interest will be computed on the basis of a 360 -day year of twelve 30 -day months. Registrar The City will name the Registrar which will be subject to applicable SEC regulations. Principal will be payable at the principal office of the Registrar and interest will be payable by check or draft of the Registrar mailed to the registered holder of a bond. The City will pay the reasonable and customary charges for the services of the Registrar. CUSIP Numbers The City assumes no obligation for the assignment or printing of CUSP numbers on the ry g g� P 8 bonds or for the correctness of any numbers printed thereon, but will permit such numbers to be assigned and printed atthe expense of the purchaser, if the purchaser waives any extension of the time of delivery caused thereby. SJB-187824v1 CE155 -16 -6-