1973 Resolutions - Laserfiche WebLink

Home Browse Search

SECTION 2. (a) The $4,500,000 General Obligation Bonds shall be dated December 1, 1973, shall be numbered from 1 to 900 both inclusive, in order of maturity, shall be of the denomination of $5,000 each, shall mature serially in numerical order, $225,000 principal amount of the General Obligation Bonds on December 1 in ~ch of the years 1974 to 1993, both inclusive, without option of prior redemption by the City of Portsmouth and, in acco~6ance with the bid of First National Bank of Chicago. the ~eneral Obliqation Bonds maturing in the years se~ forth below shall bear interest, payable semi-annually on June 1 and December 1 of each yea~. at the rate per annum set opposite the respective year, as follows: Year of Interest Year of Interest Maturity Rate Maturity Rate 1974 6.00 1984 4.75 1975 6.00 1985 4.80 1976 6.00 1986 4.90 1977 6.00 1987 5.00 1978 6.00 1988 5.10 1979 6.00 1989 5.10 1980 6.00 1990 5.10 1981 6.00 1991 5.10 1982 5.30 1992 4.00 1983 4.70 1993 4.00 (b) The $2,500,000 Utility Bonds shall be dated December !, 1973. shall be numbered from 1 to 500, both inclusive, in order of maturi- ty, shall be of the denomination of $5,000 each, shall mature serially in numerical order, $125,000 principal amount of the Uti- lity Bonds on December 1 in each of the years 1974 to 1993, both inclusive, without option of prior redemption by the City cf Ports- mouth and, in accordance with the bid of First National Bank of Chicago the Utility Bonds maturing in the years set forth below shall bear interest, payable semi-annually on Jun~ 1 and December 1 of each year, at the rate per annum set opposite the respective year, as follows: Year of Interest Year of Interest Maturity Rate Maturity Rate 1974 6.00 1984 4.75 1975 6.00 1985 4.80 1976 6.00 1986 4.90 1977 6.00 1987 5.00 1978 6.00 1988 5.10 -2-