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No. 1422 authorizing the issuance and sale of special taxing district refunding bonds of the SB redevelopment district for the purpose of advance refunding the COSB redevelopment district bonds of 1990
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No. 1422 authorizing the issuance and sale of special taxing district refunding bonds of the SB redevelopment district for the purpose of advance refunding the COSB redevelopment district bonds of 1990
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manner as the Registrar shall determine) within a maturity. Bonds so redeemed shall be <br />redeemed on such redemption date at a redemption price expressed as a percentage of the <br />principal amount of the Bond to be redeemed plus accrued interest to the redemption date <br />on the principal amount to be redeemed in accordance with the following schedule: <br />Redemption Date <br />(Both Dates Inclusive) Redemption Price <br />February 1, 2003, or thereafter on or 101% <br />before January 31, 2004 <br />February 1, 2004, or thereafter on or 100.5% <br />before January 31, 2005 <br />February 1, 2005, and thereafter prior 100% <br />prior to maturity <br />Unless waived by any holder of Bonds to be redeemed, official notice of any <br />such redemption shall be given by the Registrar on behalf of the Commission by mailing a <br />copy of an official redemption notice by registered or certified mail at least 30 days and not <br />more than 60 days prior to the date fixed for redemption to the registered owner of the <br />Bond or Bonds to be redeemed at the address shown on the Bond Register or at such other <br />address as is furnished in writing by such registered owner to the Registrar; provided, <br />however, that failure to give such notice, or any defect therein, with respect to any Bond <br />shall not affect the validity of any proceedings for the redemption of other Bonds. <br />Official notice of redemption having been given as aforesaid, the Bonds, or <br />portions of Bonds so to be redeemed shall, on the redemption date, become due and <br />payable at the redemption price therein specified, and from and after such date (unless the <br />Commission shall default in the payment of the redemption price) such Bonds or portions <br />of Bonds shall cease to bear interest. Upon surrender of such Bonds for redemption in <br />accordance with said notice, such Bonds shall be paid by the Paying Agent at the <br />redemption price. Bonds redeemed in part may be exchanged for a Bond or Bonds of the <br />same maturity in authorized denominations equal to the remaining principal amount. <br />This Bond is transferable or exchangeable only upon the Bond Register by the <br />registered owner hereof in person, or by his attorney duly authorized in writing, upon <br />surrender of this Bond together with a written instrument of transfer or exchange <br />satisfactory to the Registrar duly executed by the registered owner or his attorney duly <br />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 <br />exchange therefor. This Bond may be transferred or exchanged without cost to the <br />registered owner, except for any tax or governmental charge required to be paid with respect <br />-11- <br />
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