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9937-09 Concerning the Construction of Improvements to the Municipal Waterworks of the City
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9937-09 Concerning the Construction of Improvements to the Municipal Waterworks of the City
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Last modified
12/3/2009 11:50:35 AM
Creation date
6/18/2009 2:16:34 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
6/8/2009
Ord-Res Number
9937-09
Bill Number
36-09
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The bonds of this issue maturing on and after January 1, 2021 are redeemable at <br />the option of the City on January 1, 2020, or any date thereafter, on thirty (30) days' <br />notice, in whole or in part, [in any order of maturities selected by the City] [in inverse <br />order of maturity] and by lot within a maturity, at 100% of face value, together with the <br />following premiums: <br />_% if redeemed on January 1, 20_ or thereafter <br />before January 1, 20_; <br />_% if redeemed on January 1, 20_ or thereafter <br />before January 1, 20_; and <br />0% if redeemed on January 1, 20_, or thereafter <br />prior to maturity; <br />plus accrued interest to the date fixed for redemption. Each minimum authorized <br />denomination in principal amount shall be considered a separate bond for purposes of <br />partial redemption. <br />Notice of such redemption shall be mailed by first-class mail not more than sixty <br />(60) days and not less than thirty (30) days prior to the date fixed for redemption to the <br />address of the registered owner of each bond to be redeemed as shown on the registration <br />record of the City except to the extent such redemption notice is waived by owners of the <br />bond or bonds redeemed, provided, however, that failure to give such notice by mailing, <br />or any defect therein, with respect to any bond shall not affect the validity of any <br />proceedings for the redemption of any other bonds. The notice shall specify the date and <br />place of redemption, the redemption price and the CUSIP numbers of the bonds called for <br />redemption. The place of redemption may be determined by the City. Interest on the <br />bonds so called for redemption shall cease on the redemption date fixed in such notice if <br />sufficient funds are available at the place of redemption to pay the redemption price on <br />the date so named, and thereafter, such bonds shall no longer be protected by the <br />Ordinance and shall not be deemed to be outstanding thereunder. <br />This bond is subject to defeasance prior to payment or redemption as provided in <br />the Ordinance. <br />If this bond shall not be presented for payment or redemption on the date fixed <br />therefor, the City may deposit in trust with the Paying Agent or another paying agent, an <br />amount sufficient to pay such bond or the redemption price, as the case may be, and <br />thereafter the Registered Owner shall look only to the funds so deposited in trust for <br />payment and the City shall have no further obligation or liability in respect thereto. <br />This bond is transferable or exchangeable only upon the registration record kept <br />for that purpose at the office of the Registrar by the Registered Owner in person, or by his <br />attorney duly authorized in writing, upon surrender of this bond together with a written <br />instrument of transfer or exchange satisfactory to the Registrar duly executed by the <br />Registered Owner or such attorney, and thereupon a new fully registered bond or bonds <br />in the same aggregate principal amount, and of the same maturity, shall be executed and <br />delivered in the name of the transferee or transferees or the Registered Owner, as the case <br />-14- <br />
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