RES 14-026 Awarding GO Bonds - Laserfiche WebLink

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3.01. Maturities Interest Rates Denominations Payment, Dating -.of Bonds. The City shall forthwith issue and deliver the Bonds, which shall be denominated "General Obligation Improvement Bonds, Series 2014A" and shall be payable primarily from the 2014 General Obligation Improvement Bond Fund of the City created in Section 4.02. The Bonds shall be dated as of April 23, 2014, shall be issuable in the denominations of $5,000 or any integral multiple thereof, shall mature on February 1 in the years and amounts set forth below, and Bonds maturing in such years and amounts shall bear interest, computed on the basis of a 360 -day year consisting of twelve 30 -day months, from April 10, 2014 until paid or duly called for redemption at the rates per annum set forth opposite such years and amounts, respectively: Year Amount Rate Year Amount Rate 2016 $125,000 2.00% 2022 $135,000 2.10% 2017 125,000 2.00% 2024 270,000 3.00% 2018 130,000 2.00% 2026 285,000 3.00% 2019 130,000 2.00% 2028 295,000 3.00% 2020 130,000 2.00% 2030 315,000 3.30% 2021 130,000 2.00% The Bonds shall be issuable only in fully registered form, of single maturities. The interest thereon and, upon surrender of each Bond at the principal office of the Registrar described herein, the principal amount thereof, shall be payable by check or draft issued by the Registrar. Each Bond shall be dated by the Registrar as of the date of its authentication. 3.02. Interest Payment Dates. Interest on the Bonds shall be payable on February 1 and August 1 in each year, commencing February 1, 2015, to the owners thereof as such appear of record in the bond register as of the close of business on the fifteenth day of the immediately preceding month, whether or not such day is a business day. 3.03. Registration. The City shall appoint, and shall maintain, a bond registrar, transfer agent and paying agent (the "Registrar"). The effect of registration and the rights and duties of the City and the Registrar with respect thereto shall be as follows: (a) Re ig ster. The Registrar shall keep at its principal office a bond register in which the Registrar shall provide for the registration of ownership of Bonds and the registration of transfers and exchanges of Bonds entitled to be registered, transferred or exchanged. (b) Transfer of Bonds. Upon surrender to the Registrar for transfer of any Bond duly endorsed by the registered owner thereof or accompanied by a written instrument of transfer, in form satisfactory to the Registrar, duly executed by the registered owner thereof or by an attorney duly authorized by the registered owner in writing, the Registrar shall authenticate and deliver, in the name of the designated transferee or transferees, one or more new Bonds of a like aggregate principal amount and maturity, as requested by -8-