Ordinance 1986-885 - Laserfiche WebLink

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Apr il 1 , 1986, and shall consist of 320 Bonds in the denomination of $5,000 each. The Bonds shall be issued only as fully registered bonds and shall be due and payable on October 1 , 1996, s ub j e c t to call and prior payment on any interest payment date, in direct numer ical order, upon payment of par and accrued interest. The Bo n d s shall bear interest payable semiannually on each Apr il 1 and October 1, commenc ing on October 1, 1986, as follows: Year Amount Bond Numbers Interest Rate 1987 $lOO,OOO 1 - 20 7.00% 1988 lOO,OOO 21 - 40 7.50 1989 l50,000 41 - 70 8.00 1990 150,000 71 - 100 8.50 1991 l50,000 lOl - 130 9.00 1992 l50,000 131 - 160 9.25 1993 200,000 161 - 200 9.50 1994 200,000 201 - 240 9.75 1995 200,000 241 - 280 10.00 1996 200,000 281 - 320 10.00 The maximum net effective interest rate authorized for this issue of Bonds is 12.00% per annum, and the actual net effec- tive interest rate on this issue of Bonds is 9.974% per annum. The average Bond rate is 9.4463% per annum. Section 2. Payment of Bonds; Paying Agent and Bond Registrar. The pr inc ipal of the Bonds is payable in lawful money of the United States of America to the registered owner of each Bond upon presentation at the principal office of Cen tral Bank of Denver, a bank i ng corporation, in Denver, Colorado, or its successor, as pay i ng age n t (the "Paying Agen t" ) . Notwithstanding anything contained in this Ordinance to the contrary, interest on any Bond is payable to the pe r so n in whose name such Bond is r eg i s t e red , at his address as it appears on the registration books maintained by or on behalf of the City by Central Bank of De n ve r , a banking corporation, in De nver, Colorado, or its s uc c e s so r , as bond registrar (the "Bond Registrar"), at the close of bus iness on the fifteenth (15th) day of the calendar month next preceding each interest payment date (the " Record Da te" ) , irrespe ct i ve of any - 24 -