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1990-12-17 Resolution 26
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1990-12-17 Resolution 26
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7/17/2008 2:02:19 PM
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• (r) "Trustee" means .and includes not only the Trustee <br />but also its successor or successors in trust. <br />(s) Unless the context shall clearly otherwise indicate, <br />words importing the singular number shall include the plural number <br />in each case, and vice versa, and words importing persons shall <br />include firms and corporations, and terms employed in the <br />disjunctive form shall be deemed to be employed also in the <br />conjunctive form and vice versa. <br />ARTICLE II. <br />• <br />Maturities, Form, Issuance, <br />Delivery and Registration of Bonds <br />Sec. 2.01. The principal amount of all Bonds which may be <br />issued and outstanding under this Agreement shall be Four Million <br />Two Hundred Thousand Dollars ($4,200,000) face value. The Bonds <br />shall be originally dated as of the first day of the month in which <br />they are to be originally delivered, shall be issued in the <br />denomination of Five Thousand Dollars ($5,000) each, or any <br />integral multiple thereof and shall be numbered consecutively. <br />The Bonds shall mature serially on August 1 in the years and <br />amounts and bear interest at the rates as follows: <br />Year <br />1996 <br />1997 <br />1998 <br />1999 <br />2000 <br />2001 <br />2002 <br />2003 <br />2004 <br />a <br />The interest <br />February 1 and <br />Interest shall <br />for a 360-day <br />Interest <br />Amount Rate Year <br />$40,000 2.005 <br />50,000 2006 <br />90,000 2007 <br />125,000 2008 <br />145,000 2009 <br />165,000 2010 <br />190,000 2011 <br />210,000 2012 <br />230,000 <br />Interest <br />Amount Rate <br />$255,000 <br />280,000 <br />310,00.0 <br />340,000 <br />380,000 <br />420,000 <br />460,000 <br />510,000 <br />on all of the Bonds is payable semiannually on <br />August 1 of each year, beginning August 1, 1991. <br />be calculated on the basis of twelve 30-day months <br />year. <br />The interest on the Bonds shall be payable by check or draft <br />mailed one business day prior to the interest payment date to the <br />person in whose name each Bond is registered on the fifteenth day <br />of the month preceding such interest payment date. The principal <br />-5- <br />
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