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CC PACKET 04282020
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CC PACKET 04282020
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4/23/2020 4:20:39 PM
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4852-6958-9943\3 3 <br />February 1, 2029, and on any date thereafter, at a price equal to the principal amount thereof and <br />accrued interest to the date of redemption. The City Manager shall cause notice of the call for <br />redemption thereof to be published if and as required by law and, at least thirty days prior to the <br />designated redemption date, shall cause notice of the call for redemption to be mailed, by first <br />class mail, to the registered owners of any Bonds to be redeemed at their addresses as they appear <br />on the bond register described in Section 2.06 hereof but no defect in or failure to give such mailed <br />notice of redemption shall affect the validity of proceedings for the redemption of any Bond not <br />affected by such defect or failure; provided that notice shall be given to any securities depository <br />in accordance with its operational arrangements. Official notice of redemption having been given <br />as aforesaid, the Bonds or portions of Bonds so to be redeemed shall, on the redemption date, <br />become due and payable at the redemption price therein specified, and from and after such date <br />(unless the City shall default in the payment of the redemption price) such Bonds or portions of <br />Bonds shall cease to bear interest. Upon partial redemption of any Bond, a new Bond or Bonds <br />will be delivered to the registered owner without charge, representing the remaining principal <br />amount outstanding. <br />[TO BE COMPLETED IF THERE ARE TERM BONDS] <br /> <br />[Bonds maturing on February 1, 20____ and 20____ (the “Term Bonds”) shall be subject <br />to mandatory redemption prior to maturity pursuant to the sinking fund requirements of this <br />Section 2.04 at a redemption price equal to the stated principal amount thereof plus interest accrued <br />thereon to the redemption date, without premium. The Registrar shall select for redemption, by <br />lot or other manner deemed fair, on February 1 in each of the following years the following stated <br />principal amounts of such Bonds: <br /> <br />Year Principal Amount <br /> <br /> <br />* <br /> <br />*Final Maturity <br /> <br /> <br />Year Principal Amount <br /> <br /> <br />* <br /> <br />*Final Maturity <br /> <br /> <br />[or, if less than such amount of Term Bonds is outstanding on any such Sinking Fund Payment <br />Date, an amount equal to the aggregate principal amount of all Term Bonds then Outstanding. If <br />Term Bonds are redeemed at the option of the City pursuant to this section, the Term Bonds so <br />optionally redeemed may, at the option of the City, be applied as a credit against any subsequent <br />mandatory sinking fund payment with respect to Term Bonds otherwise to be redeemed thereby, <br />such credit to be equal to the principal amount of such Term Bonds redeemed pursuant to this <br />section, provided that the City shall have delivered to the Registrar not less than forty-five (45) <br />17
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