Laserfiche WebLink
In the event that any Bonds maturing in the year _____ are redeemed pursuant to (a) above by <br />the City and canceled by the Registrar and not reissued, the Bonds maturing in the year _____ 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 _____ so redeemed or canceled provided that the City has notified the <br />Registrar not less than thirty-five (35) days prior to the redemption date of its election to apply <br />such Bonds as a credit.] <br /> <br /> [(c) Bonds maturing in the year _____ 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 <br />so redeemed plus interest accrued thereon to the date fixed for redemption, on February <br />1, in the years and principal amounts set forth below: <br /> <br /> Year Amount <br /> <br /> $ <br /> <br />_________ <br />*Final Maturity <br /> <br />In the event that any Bonds maturing in the year _____ are redeemed pursuant to (a) above by <br />the City and canceled by the Registrar and not reissued, the Bonds maturing in the year _____ 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 _____ 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 /> <br /> (d) At least thirty days prior to the date set for redemption of any Bond, the City <br />shall cause notice of the call for redemption to be mailed to the Registrar and to the <br />registered owner of each Bond to be redeemed, but no defect in or failure to give such <br />mailed notice of redemption shall affect the validity of proceedings for the redemption of <br />any Bond not affected by such defect or failure. The notice of redemption shall specify <br />the redemption date, redemption price, the numbers, interest rates and CUSIP numbers of <br />the Bonds to be redeemed and the place at which the Bonds are to be surrendered for <br />payment, which is the principal office of the Registrar. Official notice of redemption <br />having been given as aforesaid, the Bonds or portions thereof so to be redeemed shall, on <br />the redemption date, become due and payable at the redemption price therein specified <br />and from and after such date (unless the City shall default in the payment of the <br />redemption price) such Bonds or portions thereof shall cease to bear interest. <br /> <br /> Bonds in a denomination larger than $5,000 may be redeemed in part in any integral <br />multiple of $5,000. The owner of any Bond redeemed in part shall receive without charge, upon <br />surrender of such Bond to the Registrar, one or more new Bonds in authorized denominations <br />equal in principal amount to be unredeemed portion of the Bond so surrendered. <br /> <br />55