2015-031 Council Resolution - Laserfiche WebLink

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• • • DETAILS OF THE BONDS The Bonds be dated as of the date of delivery and wil.1 bear interest payable an FebmarY 1 and August 1 of each year. commencing February 1 2016. Interest will he computed on the basis of a 360 -day year of twelve 30 -day months. The Bonds will mature February 1 in the years and amounts* as follows: 2017 S230.000 2020 8040.000 2023 5—f 5.000 2026 5770.000 2029 5235.000 2018 835.000 2021 8245 000 2024 825 5 000 2027 8220 000 2030 8240 000 2019 5235.000 2022 8250 000 0005 5265.000 2025 5225 000 2031 5245.000 nit' C 7 tuerte; rile 7117112% a.1474.77% propos;.1is are opened ani pror al% 271:7=e or reduce the prinpai mormr r;leB or the ame:w of any MX717-7S1 711 27-1U;17p:CSo 8.4-‘,000 17;24.1 erC717 the Cllnalint r.P1,1 771,Viivirri0 0aggregale purcha;e pnce 11711 be :0 7'4.%:liji 171 714C .;aFt:c yre,ss :;;.,,eaa per Si 000 of Bo ?•;I:zt r;:e orIginai propeseri Gro07Q1212 1.1iC 212fC71,2:1.21, bentV 7 cp:77d ;0 ;he C2r) me icw 1::2;o and the prk-es at which. the :ecvrmes 77721.2711.1 0.5'7 C.: 1:2 7,72i7 12-i'C7.21777f,";71/!2,;/C Proposals for the Bonds may contain a manuitv schedule providing for a combination of serial bonds and term bonds_ All term bonds shall be subject to nruidatory sinking fund redemption at a price of par plus accrued interest to the date of redemption scheduled to conform to the maturity schedule set forth above. In order to desiEniate term bonds the proposal must specify Years of Term Maturities- in the spaces provided on the proposal form BOOK ENTRY SYS I EM The Bonds will be issued by means of a book entry system with no physical distnbution of Bonds made to the public. The Bonds will be issued in fully registered form and one Bond. represent= the aggregate principal ainount of the Bonds maturing ui each year, will be registered in the name of Cede .k Co as nominee of The Depository Trust Company (-DTC-). New York. New York. which will act as securities depository of the Bonds Individual purchases of the Bonds may be made ui the principal amount of 85.000 or any multiple thereof of a single maturity through book entries made on the books and records of DTC and its participants Principal and interest are pas -able by the registrar 10 DTC or its nommee as registered owner of the Bonds Transfer of pnncipal and interest payments to participants of DTC will be the responsibility of DTC: transfer of principal and interest payments to beneficial owners by participants will be the responsibility of such participants and other nomniees of beneficial owners. The purchaser, as a condition of delivers- of the Bonds. will be required to deposit the Bonds with Dlr. REGISTRAR The City will name the registrar which shall he subject to applicable SEC regulations The City will pay for the services of the registrar. OPTIONAL REDEMPTION The City limy elect on Febniary 1, 2023 and on any day thereafter. to prepay Bonds due on or after February 1. 2024. Redemption may be m whole or in part and if in part at the option of the City and in such manner as the City shall deternune If less than all Bonds of a nianinty are called for redemption, the City will notify DTC of the particular amount of such maturity to be prepaid. DTC will determine by lot the amount of each participant's interest ui such mammy to be redeemed and each participant will then select by lot the beneficial ownerslup interests m such inaninty to be redeemed. All prepayments shall be at a price of par plus accrued interest. 458637v1 JAE EN140-115 A-3