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<br />ARTICLE II. <br />Maturities, Form, Issuance, <br />Delivery and Registration of Bonds <br /> <br />,. • <br />Sec. 2.01. The principal amount of all Bonds which may be <br />issued and outstanding under this Agreement shall be One Million <br />Four Hundred Ten Thousand Dollars ($1,410,000) face value. The <br />Bonds shall be originally dated as of 1, 1992, shall be <br />issued in the denomination of Five Thousand Dollars ($5,000) each, <br />or any integral multiple thereof and shall be numbered <br />consecutively. <br />The Bonds shall mature serially on February 1 in the years and <br />amounts and bear interest at the rates as follows: <br /> Interest Interest <br />Year Amount Rate Year Amount Rate <br />1993 $ 35,000 1999 $120,000 <br />1994 85,000 2000 130,000 <br />1995 90,000 2001 140,000 <br />1996 100,000 2002 150,000 <br />1997 105,000 2003 165,000 <br />1998 110,000 2004 180,000 <br />The interest on all of the Bonds is payable semiannually on <br />February 1 and August 1 of each year, beginning February 1, 1993. <br />Interest shall be calculated on the b asis of twelve 30-day months <br />for a 360-day 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 />of, and premium on, the Bonds shall be payable upon presentment and <br />surrender thereof in lawful money of the United States of America, <br />at the principal office of the Trustee in the City of South Bend, <br />Indiana. <br />All Bonds shall be cancelled upon their payment by the <br />Trustee. The Trustee shall dispose of such Bonds as permitted by <br />law and furnish to the Authority a certificate of their disposal, <br />signed by an authorized officer of the Trustee. <br />Sec. 2.02. The Bonds shall be executed in the name of the <br />Authority by the facsimile signature of the President of its Board <br />and attested by the facsimile signature of the Secretary-Treasurer <br />of the Board. In case any official whose facsimile signature <br />appears on the Bonds, shall cease to be such officer before the <br />-6- <br />