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10052-10 Sewage Works Revenue Bonds
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10052-10 Sewage Works Revenue Bonds
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Last modified
1/25/2011 11:43:40 AM
Creation date
11/22/2010 4:15:13 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/8/2010
Ord-Res Number
10052-10
Bill Number
66-10
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necessary to maintain the reserve required by the Ordinance. Such required payments shall <br />constitute a first charge upon all the Net Revenues of the Works. <br />[The Bonds maturing on and after 1, 20 ,are redeemable at the option of <br />the City on 1, 20 , or any date thereafter, on thirty (30) days' notice, in whole or <br />in part, in inverse order of maturity and by lot within a maturity, at face value, together with the <br />following premiums: <br />if redeemed on 1, 20_ or thereafter on <br />or before , 20_; <br />_% if redeemed on , 20_ or thereafter <br />prior to maturity; <br />plus in each case accrued interest to the date fixed for redemption.] <br />[Notice of redemption shall be mailed to the address of the Registered Owner as shown <br />on the registration record of the City, as of the date which is forty-five (45) days prior to such <br />redemption date, not less than thirty (30) days prior to the date fixed for redemption. The notice <br />shall specify the date and place of redemption and sufficient identification of the Bonds called <br />for redemption. The place of redemption may be determined by the City. Interest on the Bonds <br />so called for redemption shall cease on the redemption date fixed in such notice, if sufficient <br />funds are available at the place of redemption to pay the redemption price on the date so named.] <br />[The Bonds shall be called for redemption in multiples of $5,000. The Bonds in <br />denominations of more than $5,000 shall be treated as representing the number of Bonds <br />obtained by dividing the denomination of the Bond by $5,000 within a maturity. The Bonds may <br />be redeemed in part. In the event of the redemption of the Bonds in part, upon surrender of the <br />Bond to be redeemed, a new Bond or Bonds in an aggregate principal amount equal to the <br />unredeemed portion of the Bond surrendered shall be issued to the Registered Owner.] <br />This bond is subject to defeasance prior to payment as provided in the Ordinance and the <br />owner of this bond, by the acceptance hereof, hereby agrees to all the terms and provisions <br />contained in the Ordinance. <br />This bond is transferable or exchangeable only upon the books of the City kept for that <br />purpose at the office of the Registrar by the Registered Owner in person, or by his attorney duly <br />authorized in writing, upon surrender of this bond together with a written instrument of transfer <br />or exchange satisfactory to the Registrar duly executed by the Registered Owner or his attorney <br />duly authorized in writing, and thereupon a new fully registered bond or bonds in the same <br />aggregate principal amount, and of the same maturity, shall be executed and delivered in the <br />name of the transferee or transferees or the Registered Owner, as the case may be, in exchange <br />therefor. The City, any registrar and any paying agent for this bond may treat and consider the <br />person in whose name this bond is registered as the absolute owner hereof for all purposes <br />including for the purpose of receiving payment of, or on account of, the principal hereof and <br />interest due hereon. <br />B-3 <br />
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