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The Public Improvement Bonds maturin9 on August 1, 2016, <br />shall be subject to mandatory sinking fund redemption on August <br />1, 2015 and on Au'guDtl Is~ df each year thereafter to maturity <br />in the principal amounts in each year set forth below, with the <br />particular Public Improvement Bond or Bonds or portions thereof <br />to be redeemed to be selected by lot, upon payment of the <br />principal amount of the Public Improvement Bonds to be <br />redeemed, together with the interest accrued on the principal <br />amount to be redeemed to the date fixed for the redemption <br />thereof: <br /> <br /> Year <br />(Auqust lst) <br /> <br />Principal Amount <br /> <br />2015 <br />2016 <br /> <br />$2,000,000.00 <br /> 2,000,000.00 <br />$4,000,000.00 <br /> <br /> The City, at its option, may credit against such mandatory <br /> sinking fund redemption requirement the principal amount of any <br /> Public Improvement Bonds maturing on August 1, 2016 which have <br /> been purchased and cancelled by the City or which have been <br /> redeemed and not theretofore applied as a credit against such <br /> mandatory sinking fund redemption requirement. <br /> <br /> The Public Utility Bonds maturing on August 1, 2017 shall <br />be subject to mandatory sinking fund redemption on Augusn 1, <br />2015 and on August 1st of each year thereafter co maturity in <br />the principal amounts in each year sen forth below, with the <br />particular Public utility Bond or Bonds or portions thereof to <br />be redeemed mo be selected by lot, upon payment of the <br />principal amount of the Public Utility Bonds to be redeemed, <br />together with the interest accrued on the principal amoun5 to <br />be redeemed :o the date fixed for the redemption thereof: <br /> <br /> Year <br />(Auqusn lst) <br /> <br />Principal Amounm <br /> <br />2015 $ 665,000.00 <br />2016 705,000.00 <br />2017 7401000.00 <br /> $2,110,000.00 <br /> <br />The City, at its option, may credit against such mandatory <br />sinking fund redemption requirement the principal amount of any <br />Public Utility Bonds maturing on August 1, 2017 which have been <br />purchased and cancelled by the City or which have been redeemed <br />and not theretofore applied as a credit against such mandatory <br />sinking fund redemption requirment. <br /> <br /> The Public Utility Bonds maturing on August 1, 2021, shall <br />be subject ~o mandatory sinking fund redemption on August 1, <br />2018 and on Augus: 1st of each year thereafter ~o maturity in <br />the principal amounts in each year set forth below, with the <br />particular Public Utility Bond or Bonds or portions thereof to <br />be redeemed to be selected by lot, upon payment of the <br />principal amounm of the Public Utility Bonds to be be redeemed, <br />together with the interest accrued on the principal amount to <br />be redeemed ~o the date fixed for the redempmion thereof; <br /> <br /> Year <br />(Auqust lst) Principal Amount <br /> <br />2018 <br />2019 <br />2020 <br />2021 <br /> <br />785,000.00 <br />830,000.00 <br />875,000.00 <br />925,000.00 <br />3,415,000.00 <br /> <br />The City, at its optmon, may credit against such mandatory <br />sinking fund redemption requirement the prmncipal amoun5 of any <br />Public Utility Bonds maturing on August 1, 2021 which have been <br />purchased and cancelled by the City or which have been redeemed <br />and not theretofore applied as a credit against such mandatory <br />sinking fund redempEion requiremenE. <br /> <br /> <br />