Ordinance 1987-933 - Laserfiche WebLink

Home Browse Search

l,I The principal of, premium, if any, and interest on the Bonds shall be paid in accordance with the terms of the Bond Paying Agent and Registrar Agreement. Section 4. Prior Redemption. Bo nds maturing on Au g u s t 1 5 , 2002, are subject to mandatory sinking fund redemption, in part, by lot, on August 15, 2001, upon payment of par and accrued interest, without redemption premium, in the annual amounts set forth below: Redempt ion Amount 2001 $275,000 2002 300,000 (actual maturity; not a sinking fund payment) On or before forty-five (45) days prior to each sinking fund installment date, the Bond Registrar shall select for redemption, by lot in such manner as the Bond Registrar may determine, from the outstanding Bonds maturing on August 15, 2002, a principal amount of such Bonds equal to the applicable sink i n g fund installment. The amount of the applicable sinking fund installmen t may be reduced by the principal amount of any Bonds maturing on August 15, 2002, which prior to said date have been redeemed (otherwise than through the operation of the sinking fund) and cancelled and not theretofore appl ied as a credit against a sinking fund installment. Bonds maturing on August 15, 2007, also are subject to mandatory sinking fund redemption, in part, by lot, on August 15, 2003, and on each August 15th thereafter prior to the maturity date of such Bonds, upon payment of par and accrued interest, without redemption premium, in the annual amounts set forth below: Redemption Amount 2003 $315,000 2004 340,000 2005 365,000 2006 400,000 2007 720,000 (final maturity; not a sinking fund paymen t) - 5 -