1997 Resolutions - Laserfiche WebLink

Home Browse Search

obligation and to pay the costs of issuing the Series 1997C Bonds, including any premium for municipal bond insurance or the cost of any alternative credit enhancement for the Series 1997C Bonds. The Series 1997A Bonds, the Series 1997B Bonds and the Series 1997C Bonds shall be referred to in this resolution collectively as the "Bonds". (e) The Bonds of each series shall be issued in fully registered form and shall be in the denomination of $5,000 or any integral multiple thereof. The Bonds of each series shall be numbered from R-1 upwards in order of issuance and shall bear such series designation as shall be determined by the City Manager or the Deputy City Manager for Finance; shall mature annually, commenclng in such year and on such date in each year and in such amount in each year as shall be determined by the City Manager or the Depucy City Manager for Finance; and shall bear interest at such rate or rates per annum as shall be determined by the City Manager or the Deputy City Manager for Finance pursuant to Section 9, such interest being payable commencing on a date not more than one (1) year from the date of the Bonds and semiannually thereafter. The City Manager or the Deputy City Manager for Finance is authorized to determine, in accordance with and subject to the provisions of this resolution: the date or dates of the Bonds, the interest payment dates thereof; the maturity dates thereof, provided that the final maturity of the Bonds of any series shall be not later than forty (40) years from the date the first Bonds of such series are issued under this resolution; the amount of principal maturing on each maturity date; the place or places of payment thereof and the paying agent or paying agents therefor; the place or places of registration, exchange or transfer thereof and the registrar therefor; and whether or not the Bonds shall be subject to redemption prior to their stated maturity or maturities and if subject to such redemption, the premiums, if any, payable upon such redamption and the respective periods in which such premiums are payable. Interest on the Bonds shall be calculated on the basis of a three hundred and sixty (360) day year comprised of twelve (12) thirty (30) day months. (f) In the event the Bonds shall be dated as of a date other than the first day of a calendar month or the dates on which interest is payable are other than the first days of calendar months, the provisions of Section 15 with regard to the form of such Bonds shall be modified as the City Manager or the Deputy City Manager shall determIne to be necessary or appropriate.