Resolution 2006-015 - Laserfiche WebLink

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or registered assigns, the principal sum specified above on the maturity date specified above, with interest thereon from the date of original issue specified above or froze the most recent Interest Payment Date (as hereinafter defined) to which interest has been paid or duly provided for, at the annual rate specified above, payable on June I and December I in each year, commencing December 1, 2006 (each such date, an Interest Payment Date), all subject to the provisions referred to herein with respect to the redemption of the principal of this Obligation before maturity. The interest so payable on any Interest Payment Date shall be paid to the person in whose narne this Obligation is registered at the close of business on the fifteenth day (whether or not a business day) of the immediately preceding month. Interest hereon shall be computed on the basis of a 360 -day year composed of twelve 30 -day months. The interest hereon and, upon presentation and surrender hereof, the principal hereof are payable in lawful money of the United States of America by check or draft or other agreed means of payment by the City Finance Director as Registrar and Paying Agent (the Registrar), or its designated successor under the Resolution described herein. For the prompt and full payment of such principal and interest as the same respectively become due, the full faith, credit and taxing powers of the City have been and are hereby irrevocably pledged. This Obligation is one of an issue in the aggregate principal amount of $443,000 issued pursuant to a resolution adopted by the City Council on February 7, 2006 (the Resolution), to finance the costs of acquisition of capital equipment, and is issued pursuant to and in full. conformity with the Constitution and laws of the State of Minnesota thereunto enabling, including Minnesota Statutes, Section 412.30I and Chapter 475. The Obligations are issuable only in fully registered form of single maturities. Obligations maturing in 2015 are subject tb redemption and prepayment at the option of the City, in whole or in part, in such order of maturity dates as the City may select and, within a maturity, by lot as selected by the Registrar on December 1, 2013, and on any date thereafter, at a price equal to the principal amount thereof phis interest accrued to the date of redemption. The City will cause notice of the call for redemption to be published if and as required by law and, at least thirty (30) days prior to the designated redemption date, will cause notice of the call thereof to be mailed by first class mail to the registered owner of any Obligation to be redeemed at the owner's address as it appears on the bond register maintained by the Registrar, but no defect in or failure to give such mailed notice of redemption shall affect the validity of proceedings for the redemption of any Obligation not affected by such defect or failure. Official notice of redemption having been given as aforesaid, the Obligations or portions of Obligations so to be redeemed shall, on the redemption date, become due and payable at the redemption price therein specified, and from and after such date (unless the City shall default in the payment of the redemption price) such Obligations or portions of Obligations shall cease to bear interest. Upon partial redemption of any Obligation, a new Obligation or Obligations will be delivered to the registered owner without charge, representing the remaining principal amount outstanding. Bonds maturing in the year 2008, 2011 and 2015 shall be subject to mandatory redemption, at a redemption price equal to their principal amount plus interest accrued thereon to the redemption date, without premium, on December 1 in each of the years shown below, in an amount equal to the following principal amounts: 7