City Council Agenda and Packet 1986 04 22

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April 1, 1986, and shall consist of 320 Bonds in the denomination of $5,000 each. The Bonds shall be issue1 only as fully registered bonds and shall be due and payable on October 1, 1996, subject to call and prior payment on any interest payment date, in direct numerical order, upon payment of par and accrued interest. The Bonds shall bear interest payable semiannually on each April 1 and October 1, commencing on October 1 , 1986, as follows: Year Amount Bond Numbers Interest Rat• 1987 $100,000 1 - 20 7.00% 1988 100,000 21 - 40 7.50 1989 150,000 41 - 70 8.00 1990 150,000 71 - 100 8.50 1991 150,000 101 - 130 9,00 1992 150,000 131 - 160 9,25 1933 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 rat♦ 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 Bonder Paxi�n Agent and Bond Registrar,. The principal 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 off ice of Central Bank of Denver, a banking corporation, in Denver, Colorado, or its successor, as paying agent (the 'paying Agents). Notwithstanding anything contained in this Ordinance to the contrary, interest on any Bond is payable to the person in whose name such Bond is registered, at his address as it appears on the registration books maintained by or on behalf of the City by Central Bank of Denver, a banking corporation, in Denver, Colorado, or its successor, as bond registrar (the "Bond Registrar') , at the close of business on the fifteenth ( 15th) day of the calendar month next preceding each interest payment date (the 'Record Date') , irrespective of any - 24 -