CC PACKET 11271995 - Laserfiche WebLink

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• Section 3. Bond Terms. Execution and Delivery. 3.01. Maturities, Interest Rates, Denominations, Payment. The City shall forthwith issue and deliver the,Bonds, which shall be denominated "General Obligation Tax Increment Bonds, Series 1995B". The Bonds shall be dated as of December 1, 1995, shall be issuable in the denomination of $5,000 each 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 from the date of original issue of the Bonds computed on the basis of the number of days elapsed in a 360-day year consisting of twelve 30-days months from December 1, 1995 until paid or duly called for redemption at the rates per annum shown opposite such years and amounts as follows: Year Amount Rate Year Amount Rate 1996 $130,000 % 2004 $180,000 ' % 1997 . 135,000 2005 190,000 1998 140,000 2006 195,000 1999 145,000 2007 205,000 2000 150,000 2008 220,000 2001 155,000 2009 230,000 • 2002 165,000 2010 240,000 2003 170,000 The Bonds shall be issuable only in fully registered form. The interest thereon and, upon surrender of each Bond, the principal amount thereof, shall be payable by check or draft issued by the Registrar described herein. 3.02. Dates: Interest Payment Dates. Each Bond shall bear a date of original issue of Dcember 1, 1995, and shall be dated as of the date of authentication. Interest on the Bonds shall be payable on February 1 and August 1 in each year, commencing February 1, 1996, to the owner of record thereof 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) Register. The Registrar shall keep at its principal corporate trust 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.