CCRes_74-13 - Laserfiche WebLink

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.~, the terms of the lowest bid received, engineering, legal and other professional charges, publication and .printing costs, interest accruing on money borrowed for the project before the collection of taxes levied therefor, and all other costs necessarily incurred and to be incurred from the inception to the completion of the project, is estimated to be at least equal to the amount of the bonds herein author- ized. Work on the project shall proceed with due dili- gence to co repletion . 4. The bonds of said issue maturing in the years and bearing the serial numbers set forth below shall bear interest, payable June 1, 1975 and semiannually there- after on December 1 and June 1 of each year, at the respec- tive rates per annum set opposite said maturity years and serial numbers: Maturity Years Serial Numbers 1976-1980 1- 5 1981 6 198 2 7 1983 8 1984 9-10 1985 11-12 1986 13-14 1987 15-16 1988-1989 17-20 5. All bonds of this issu 1985 to lg8g, bot h inclusive (bonds. both inclusive) , shall b e subject to at the option of the City in inverse 5.200 5.300 5.400 S.SOo 5.600 5.700 5.800 5.900 6.OOo e raturing in the years numbered 11 to 20, redemption and prepayment order of serial numbers., on June 1, 198+ and on any interest payment date thereafter at par and accrued interest, plus a premium of $25.00 per bond. Published notice of redemption shall in each case be given in accordance with law, and. at least thirty days prior mailed notice of redemption shall be given to the bank where said bonds are payable and to the last known holders, provided that published notice alone shall be effective without mailed notice. Folders desiring to receive mailed notice must register their names, addresses and bond numbers with the City Clerk. 6. The bonds and interest coupons to be issued hereunder shall be in substantially the r"ollowing form: Interest Rate