Laserfiche WebLink
payment of the principal and interest on the Bonds as the same become due, the full faith, credit <br />and taxing power of the City have been and are hereby irrevocably pledged. The Bonds are <br />issuable only as fully registered bonds in denominations of $5,000 or any multiple thereof, of <br />single maturities. <br />Bonds maturing in the years 2015 through 2020 are payable on their respective stated <br />maturity dates without option of prior payment, but Bonds having stated maturity dates in 2021 <br />and later years are each subject to redemption and prepayment, at the option of the City and in <br />whole or in part, and if in part, in the maturities selected by the City and, within a maturity, in <br />$5,000 principal amounts selected by lot, on February 1, 2020 and on any date thereafter, at a <br />price equal to the principal amount thereof to be redeemed plus accrued interest to the date of <br />redemption. <br />Bonds maturing in the year 2016 shall be subject to mandatory sinking fund redemption <br />by lot at a redemption price equal to the principal amount of the Bonds to be so redeemed plus <br />interest accrued thereon to the date fixed for redemption, on February 1, in the years and <br />principal amounts set forth below: <br />Year Amount <br />2015 $115.000 <br />2016* 115,000 <br />*Final Maturity <br />In the event that any Bonds maturing in the year 2016 are redeemed pursuant to (a) above by the <br />City and canceled by the Registrar and not reissued, the Bonds maturing in the year 2016 so <br />redeemed and canceled may be applied by the City as a credit against the Bonds to be redeemed <br />pursuant to this subsection (b). such credit to be equal to the principal amount of the Bonds <br />maturing in the year 2016 so redeemed or canceled provided that the City has notified the <br />Register not less than thirty-five (35) days prior to the redemption date of its election to apply <br />such Bonds as a credit. <br />Bonds maturing in the year 2018 shall be subject to mandatory sinking fund redemption <br />by lot at a redemption price equal to the principal amount of the Bonds to be so redeemed plus <br />interest accrued thereon to the date fixed for redemption, on February 1. in the years and <br />principal amounts set forth below: <br />Year Amount <br />2017 $1 15,000 <br />2018* 115,000 <br />*Final Maturity <br />