|
134
<br />
<br />October 1, 1985
<br />
<br /> The Bonds maturing on and after November 1, 1996 (or
<br />portions thereof in installments of $5,000) shall be subject
<br />to redemption at the option of the City prior to their stated
<br />maturities on or after November 1, 1995, in whole at any time,
<br />or in part from time to time on any interest payment date in
<br />any order determined by the City (except that if less than all
<br />of the Bonds of a given maturity are called for redemption,
<br />the particular Bonds of such maturity or portions thereof in
<br />installments of $5,000 to be redeemed shall be selected by
<br />lot), upon payment of the principal amount of the Bonds (or
<br />portions thereof in installments of $5,000) to be redeemed,
<br />together with the interest accrued thereon to the date fixed
<br />for redemption plus a premium of one-quarter of one percent
<br />(1/4 of 1%) of the principal amount of each Bond to be
<br />redeemed for each twelve (12) month period or fraction thereof
<br />between the date fixed for redemption and the stated maturity
<br />date of such Bond.
<br />
<br /> If any Bond (or any portion of the principal amount
<br />thereof in installments of $5,000) shall be called for
<br />redemption, notice of the redemption thereof, specifying the
<br />date, number and maturity of such Bond, the date and place or
<br />places fixed for its redemption, the premium, if any, payable
<br />upon such redemption, and if less than the entire principal
<br />amount of such Bond is to be redeemed, that such Bond must be
<br />surrendered in exchange for the principal amount thereof to be
<br />redeemed and a new Bond or Bonds issued equalling in principal
<br />amount that portion of the principal amount thereof not to be
<br />redeemed, shall be mailed not less than thirty (30) days prior
<br />to the date fixed for redemption by first class mail to the
<br />registered holder of such Bond at his address as it appears on
<br />the books of registry kept by Bank of Virginia Trust Company,
<br />in the City of Richmond, virginia, the Registrar for the Bonds
<br />(the "Registrar"), as of the close of business on the
<br />forty-fifth (45th) day preceding the date fixed for
<br />redemption. If notice of the redemption of any Bond shall
<br />have been given as aforesaid, and payment of the principal
<br />amount of such Bond (or the portion of the principal amount
<br />thereof to be redeemed) and of the accrued interest and
<br />premium, if any, payable upon such redemption shall have been
<br />duly made or provided for, interest on such Bond shall cease
<br />from and after the date so specified for the redemption
<br />thereof.
<br />
<br /> 2. The principal of and premium, if any, and interest on
<br />the Bonds shall be payable in such coin or currency of the
<br />United States of America as at the respective dates of payment
<br />is legal tender for public and private debts. The principal
<br />of and premium, if any, on the Bonds shall be payable at the
<br />principal office of the Registrar. The interest on the Bonds
<br />shall be paid by check mailed by the Registrar to ~he holders
<br />of record of the Bonds as of the fifteenth (15th) day of the
<br />calendar month next preceding each interest payment date.
<br />
<br /> At all times during which any Bond remains outstanding
<br />and unpaid, the Registrar shall keep or cause to be kept at
<br />its principal office books of registry for the registration,
<br />exchange and transfer of the Bonds. Upon presentation at its
<br />principal office for such purpose, the Registrar, under such
<br />reasonable regulations as it may prescribe, shall register,
<br />exchange, transfer, or cause to be registered, exchanged or
<br />transferred, on the books of registry the Bonds as herein set
<br />forth.
<br />
<br /> The books of registry shall at all times be open for
<br />inspection by the City or any duly authorized officer thereof.
<br />
<br /> Any Bond may be exchanged at the principal office of the
<br />Registrar f6r a like aggregate principal amount of such Bonds
<br />in other authorized principal amounts of the same interest
<br />rate and maturity.
<br />
<br /> Any Bond mayr in accordance with its terms, be
<br />transferred upon the book of registry by the person in whose
<br />name it is registered, in person or by his duly authorized
<br />agent, upon surrender of such Bond to the Registrar for
<br />cancellation, accompanied by a written instrument of transfer
<br />duly executed by the registered holder in person or his duly
<br />authorized 9gent, in form satisfactory to the Registrar.
<br />
<br />
<br />
|