Ordinance 1994-1145 - Laserfiche WebLink

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It is hereby recited, certified, and warranted that for the payment of this Bond, the City has created and will maintain the special accounts referred to above, and will deposit therein out of the Net Revenue the amounts specified in the authorizing Bond Ordinance, and out of such accounts, as an irrevocable charge thereon, will pay the principal of, premium if any, and interest on this Bond in the manner provided by said Ordinance. For a description of such accounts, the Net Revenue, the manner in which the authorizing Bond Ordinance may be amended, and the nature and extent of the security afforded thereby for the payment of this Bond, reference is made to the authorizing Bond Ordinance. This Bond does not constitute a debt or indebtedness of the City within the meaning of any constitutional or statutory provision or limitation, and shall not be considered or held to be a general obligation of the City. Bonds of this issue maturing on and after December 1 , 199 _, are subject to redemption prior to maturity, at the option of the City, as a whole or in integral multiples of $5,000, in any order of maturity, and if less than an entire maturity is to be redeemed, then by lot within such maturity, on December 1, 199_, and on any interest payment date thereafter, upon payment of par, accrued interest, and a premium of 1.00% of the principal amount so redeemed. The Bonds maturing on December 1, 200_, also are subject to mandatory sinking fund redemption, in part, by lot, on December 1, 200_, and on each December 1 thereafter prior to the maturity date of such Bonds, upon payment of par and accrued interest, without redemption premium, pursuant to sinking fund installments provided in the Bond Ordinance. The Bonds will be redeemed only in integral multiples of $5,000. In the event a Bond is of a denomination larger than $5,000, a portion of such Bond may be redeemed, but only in the principal amount of $5,000 or any integral multiple thereof. Such Bond will be treated for the purposes of redemption as that number of Bonds which results from dividing the principal amount of such Bond by $5,000. Notice of prior redemption shall be given by mailing a copy of the redemption notice, not less than thirty (30) days nor more than sixty (60) days prior to the date fixed for redemption to the registered owner of this Bond at the address shown on the registration books maintained by the Bond Registrar, in the manner set forth in the authorizing Bond -21-