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RES 14-026 Awarding GO Bonds
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RES 14-026 Awarding GO Bonds
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7/29/2015 10:55:00 AM
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7/28/2015 3:51:06 PM
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City Council
Meeting Date
3/25/2015
Document Type
Council Resolutions
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(c) Bonds maturing in the year 2026 shall be subject to mandatory sinking fund <br />redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br />redeemed plus interest accrued thereon to the date fixed for redemption, on February 1, in the <br />years and principal amounts set forth below: <br />Year Amount <br />2025 $140,000 <br />2026* 145,000 <br />*Final Maturity <br />In the event that any Bonds maturing in the year 2026 are redeemed pursuant to (a) above by the <br />City and canceled by the Registrar and not reissued, the Bonds maturing in the year 2026 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 (c), such credit to be equal to the principal amount of the Bonds <br />maturing in the year 2026 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 />(d) Bonds maturing in the year 2028 shall be subject to mandatory sinking fund <br />redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br />redeemed plus interest accrued thereon to the date fixed for redemption, on February 1, in the <br />years and principal amounts set forth below: <br />Year Amount <br />2027 $145,000 <br />2028* 150,000 <br />*Final Maturity <br />In the event that any Bonds maturing in the year 2028 are redeemed pursuant to (a) above by the <br />City and canceled by the Registrar and not reissued, the Bonds maturing in the year 2028 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 2028 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 />(e) Bonds maturing in the year 2030 shall be subject to mandatory sinking fund <br />redemption by lot at a redemption price equal to the principal amount of the Bonds to be so <br />redeemed plus interest accrued thereon to the date fixed for redemption, on February 1, in the <br />years and principal amounts set forth below: <br />-11- <br />
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