Ordinance 1993-1130 - Laserfiche WebLink

Home Browse Search

maturities, at the option of the City, on and after December I, , in whole or in pan, in integral multiples of $5,000, from such maturities or any portions of maturities selected by the City and by lot within a maturity in such Il13I1Iler as the Paying Agent sball determine, at a redemption price equal to the principal amount of each Bond or portion thereof called for redemption plus accrued interest to the redemption date, and a premium of a percentage of the principal amount so redeemed, as follows: Redemotion Date Premium December 1, _, through November 30, 1.00% December 1, _, and thereafter _ 0 _ Except for any optional redemption elected by the City in connection with any escrow refunding, the Bonds shall only be called for optional redemption to the extent of funds on deposit with the Paying Agent and available for such purpose (which may include the known minimum yield from Federal Securities as provided in Section 28 hereof) on the date the notice of redemption is mailed to the Registered Owners as hereinafter in this Section provided, 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 integral multiples thereof, and the Registrar shall, without charge to the Owner of such Bond, authenticate and issue a replacement Bond or Bonds for the unredeemed portion thereof. (b) Notice of Redemotion. The Finance Director shall give written instructions concerning any optional prior redemption of Bonds to the Registrar at least 60 days prior to the redemption date; provided, however, that the Registrar may waive this requirement if instructions are given in time for notice to be given to Bond Owners. Unless waived by the owners of the Bonds to be called, notice identifying the Bonds or portions thereof to be redeemed shall be given by the Bond Registrar by mailing a copy of the redemption notice by fIrst class mail, postage prepaid, not more than 60 nor less than 30 days prior to the date fIxed for redemption, to the Registered Owner of each Bond to be redeemed in whole or in part at the address shown on the registration records maintained by the Bond Registrar and to the Bond Insurer. Failure to give such notice by mailing to - 16 -