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Municipal Waterworks Revenue Bonds
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Municipal Waterworks Revenue Bonds
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Last modified
5/13/2013 1:13:21 PM
Creation date
10/11/2012 11:36:33 AM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
11/23/1992
Ord-Res Number
8318-92
Bill Number
93-92
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i <br /> o <br /> proceedings for the redemption of any other Bond. The notice shall <br /> specify the redemption price, the date and place of redemption, and <br /> the registration numbers (and, in case of partial redemption, the <br /> respective principal amounts) of the Bonds called for redemption. <br /> The place of redemption may be at the office of the Registrar and <br /> Paying Agent or as otherwise determined by the City. Interest on <br /> the Bonds (or portions thereof) so called for redemption shall <br /> cease to accrue on the redemption date fixed in such notice, if <br /> sufficient funds are available at the place of redemption to pay <br /> the redemption price on the redemption date and when such Bonds (or <br /> portions thereof) are presented for payment. Any Bond redeemed in <br /> part may be exchanged for a Bond or Bonds of the same maturity in <br /> authorized denominations equal to the remaining principal amount <br /> thereof. At the time of payment of the principal of, premium, if <br /> any, and interest on any Bonds called for redemption, such Bonds <br /> shall be surrendered for cancellation. <br /> In addition to the foregoing notice, the City may also <br /> direct that further notice of redemption of the Bonds be given, <br /> including without limitation and at the option of the City, notice <br /> described in paragraph (a) below given by the Registrar and Paying <br /> Agent to the parties described in paragraphs (b) and (c) below. <br /> No defect in any such further notice and no failure to give all or <br /> any portion of any such further notice shall in any manner defeat <br /> the effectiveness of any call for redemption of Bonds so long as <br /> notice thereof is given as prescribed above. <br /> (a) If so directed by the City, each further notice <br /> of redemption given hereunder shall contain the <br /> information required above for an official notice of <br /> redemption plus (i) the CUSIP numbers of all Bonds being <br /> redeemed; (ii) the date of issue of the Bonds as <br /> originally issued; (iii) the rate of interest borne by <br /> each Bond being redeemed; (iv) the maturity date of each <br /> Bond being redeemed; and (v) any other descriptive <br /> information needed to identify accurately the Bonds being <br /> redeemed. <br /> (b) If so directed by the City, each further notice <br /> of redemption shall be sent at least thirty-five (35) <br /> days before the redemption date by registered or <br /> certified mail or overnight delivery service to all <br /> registered securities depositories then in the business <br /> of holding substantial amounts of obligations of types <br /> comprising the Bonds (such depositories now being <br /> Depository Trust Company of New York, New York, Midwest <br /> Securities Trust Company of Chicago, Illinois, Pacific <br /> Securities Depository Trust Company of San Francisco, <br /> California, and Philadelphia Depository Trust Company of <br /> Philadelphia, Pennsylvania) and to one or more national <br /> information services that disseminate notices of <br /> redemption of obligations such as the Bonds (such as <br /> 7 <br />
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