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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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9951-09 Authorizing the aquisitions, constructions and installation of certain improvements and extensions
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Last modified
12/3/2009 11:51:05 AM
Creation date
8/20/2009 12:22:25 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
8/10/2009
Ord-Res Number
9951-09
Bill Number
56-09
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sinking fund redemption (or final maturity) dates determined by the Clerk, and the <br />principal amount of such Term Bond to be redeemed on such mandatory sinking fund <br />redemption dates by operation of the mandatory sinking fund requirements shall be <br />reduced accordingly; provided, however, the Registrar and Paying Agent shall only credit <br />Bonds against the mandatory sinking fund requirements to the extent such Bonds are <br />received on or before 45 days preceding the applicable mandatory sinking fund <br />redemption date. <br />The Registrar shall determine by lot (treating each $5,000 principal <br />amount of each Bond as a separate Bond for such purpose) the Bonds within a Term <br />Bond of a particular maturity to be redeemed pursuant to the mandatory sinking fund <br />redemption requirements on December 1 of each year. <br />Notice of any such mandatory sinking fund redemption shall be given in <br />the same manner as notice of optional redemption is required to be given pursuant to this <br />Section IV of this Ordinance. If Bonds are to be redeemed by optional redemption and <br />mandatory sinking fund redemption on the same date, the Registrar shall select by lot the <br />Bonds for optional redemption before selecting the Bonds by lot for the mandatory <br />sinking fund redemption. <br />In the event any of the Bonds are issued as Term Bonds, the form of the <br />Bond set forth in Appendix A to this Ordinance shall be modified accordingly. <br />Any reference to payment of principal on the Bonds shall include payment <br />of scheduled mandatory sinking fund redemption payments described in this Section V. <br />Section VI. Execution and Authentication of the Bonds and BANS. The Bonds <br />and the BANS shall be executed in the name of the City by the manual or facsimile signature of <br />-19- <br />BDDBOI 5738468v1 <br />
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