09/26/2005 Council Packet - Laserfiche WebLink

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• $5,550,000, originally dated November 1, 2005, in the denomination of $5,000 each or any integral multiple thereof, numbered No. R -1, upward, bearing interest as above set forth, and maturing serially on February 1 in the years and amounts as follows: • Year Amount Year Amount 2007 $195,000 2015 $380,000 2008 275,000 2016 400,000 2009 285,000 2017 425,000 2010 300,000 2018 445,000 2011 315,000 2012 330,000 2013 345,000 2014 365,000 Term Bonds due February 1, 2021 in the aggregate principal amount of $1,490,000. 1.04. Optional Redemption. The City may elect on February 1, 2016, and on any day thereafter to prepay Bonds due on or after February 1, 2017. Redemption may be in whole or in part and if in part, at the option of the City and in such manner as the City will determine. If less than all Bonds of a maturity are called for redemption, the City will notify DTC (as defined in Section 7 hereof) of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interests in such maturity to be redeemed. Prepayments will be at a price of par plus accrued interest. 1.05. Mandatory Redemption. The Term Bonds are subject to mandatory sinking fund redemption and shall be redeemed in part by lot at par plus accrued interest on the sinking fund installment dates and in the principal amounts as follows: Sinking Fund Installment Date Principal Amount February 1, 2.021 Term Bonds 2019 $470,000 2020 495,000 2021 (maturity) 525,000 The specific Term Bonds to be redeemed will be selected by lot by the Registrar. All prepayments will be at a price of par plus accrued interest. Section 2. Registration and Payment. 2.01. Registered Form. The Bonds will be issued only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof, is payable by check or draft issued by the Registrar described herein. CAW- 268337v1 LN140 -93