Ordinance 1993-1099 - Laserfiche WebLink

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of par, accrued interest to the date of redemption, without redemption premium. Notice of optional redemption shall be mailed or delivered at least thirty (30) days before the redemption date to the Holder of the Bond at its last address appearing on the Bond Register of the Trustee. Any notice mailed as provided in the Indenture shall be conclusively presumed to have been duly given, whether or not the Holder receives the notice. Each notice of redemption shall specify the date fixed for redemption, the redemption price, the place or places of payment, that payment will be made upon presentation and/or surrender of the Bond, that interest accrued to the date fixed for redemption will be paid as specified in said notice, and that on and after said date interest thereon will cease to accrue. If less than the entire outstanding principal amount of the Bond is to be redeemed, the notice of redemption shall specify the principal amount of the Bond to be redeemed. In case an Event of Default as defined in the Indenture or Loan Agreement occurs, the principal of this Bond may be declared or may become due and payable prior to the stated maturity hereof in the manner and with the effect and subject to the conditions provided in the Indenture, but the Holder of the Bond shall have no rights to enforce the provisions of the Indenture, Loan Agreement, Assignment, or Mortgage except as provided in the Indenture. With the consent of the City and Trustee and to the extent permitted by and as provided in the Indenture, the terms and provisions of the Indenture, the Loan Agreement, Assignment, or the Mortgage, or of any instrument supplemental thereof, may be modified or altered by the assent or authority of the Holder of the Bond. It is hereby certified and recited and the City Council has found: that the Project is an eligible "project" defined in Section 29-3-103(10) of the Act; that the issuance of the Bond and the acquisition and construction of the Project will promote the public welfare and carry out the purposes of the Act; that all acts, conditions and things required to be done precedent to and in the issuance of this Bond have been done properly, have happened and have been performed in regular and due time, form, and manner as required by law; and that this Bond does not constitute a debt of the City within the meaning of any constitutional or statutory limitation. This Bond is a negotiable instrument and is transferable by the Registered Holder hereof upon surrender of this Bond for transfer at the principal corporate trust office of the Trustee, duly endorsed or accompanied by a written instrument of transfer in form satisfactory to the Trustee and executed by the Registered - 8 -