Minutes 04/14/1987 - Laserfiche WebLink

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April 14, 1987 If any Bond (or any portion of the primcipal a~u~t thereof in installments of $5,000) shall be called for redemption, notice of the redemption thereof, specifying the date, number and maturity of such Bond, the date and place or places fixed for its redemption~ the premium, if any, payable upon such redemption, and if less than the entire principal amount of such Bond is to be redeemed, that such Bond must~ be surrendered in exchange for th~ principal amount thereof to be redeemed and a new Bond or Bonds issued equatling~in principal amount that portion of th~ principal amount thereof not to be redeemed, shall be mailed not less than thirty (30) days prior to the date fixed for redemption by first class mail, Uos~age prepaid, to the registered holder of such Bond at his address as it appears on the books of registry kept by the Registrar and Paying Agent for the Bonds to be hereinafter designated by the Colncil (the "Registrar"), as of the close of business on the forty-fifth (45th) day preceding the date fixed for redemption. If notice of the redemption of any Bond shall have been given as aforesaid, and payment of the principal amoun~ of such Bond (or the portion of the principal amount thereof to be redeemed) and of the accrued interest and premium, if any, payable upon such redemption shall have been duly made or provided for, interest on such Bond shall cease ~o accrue from and after the date so specified for the redemption thereof. 2. The principal of and premium, if any, and interest on the Bonds shall be payable in such c6in or currency of the United States of America as at the respec- tive dates of paymen~ is legal tender for public and private debts. The principal of and premium, if any, on the Bonds shall be payable at the principal corporate trus~ office of the Registrar. The interest-on the Bonds shall be paid by check mailed by the Registrar to the holders of record of the Bonds as of the fifteenth (15th) day of the :alendar month next preceding each interest paymen~ date. At all times during which any Bond remains o~tstanding and unpaid, the Registrar shall keep, or cause to be kept, a~ its principal corporate trust office books of registry for the registration, exchange and transfer of the Bends. Upon presentation at its principal corpe~ate trust of~ioe for such purpose, the Registrar, under such reason- able regulations as it may prescribe, shall register, exchange or transfer, or cause to be registered, exchanged setor transferred, forth, on the books of registry the Bonds as herein The books of registry shall at all tim~s be open fe~ inspection hy the City or any ~uly a~t/~ri~ed ~officer thereof. A~y Bond may be ~xchang~d st the principal Corporate trust office of the Registrar .fo~ a like aqgregate principal amoun~ of such Bonds in other authorized principal ~ounts of the same interest rate and maturity. Any Bond may, in accordance with its terms, be transferred upqn the books of registry by the p ~son in whose n~ it 'is registered, in pe~so~ or b~ hi~ duly a~thorized agent, upon.surrender o~ such B~nd t¢ Registrar~for cancellation, accompanied by a written instrument of transfer duly executed by the regi holder in person or his duly authorized agent, satisfactory to the Registrar. All transfers or exchanges of Bonds sh without expense to the holder of such Bonds, exc otherwise herein provided, and excep~ that the shall require the payment by the holder of the S requestin~ such transfer or exchange of any tax governmental charges required to be paid w~th re snch transfer or exehaDge. Ail Bonds surrendere · transfer ~r ~xchan~e s~lt he ca~celted~ the stered form tl be made ~gistrar i 265