1974.03.18 CC Minutes - Laserfiche WebLink

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3. Said bonds shall provide funds for the purchase of fire equipment consisting of a tank truck and pumper tanker (hereinafter called the Project) for the City . The total cost of said Project, including legal and other professional charges , publication and printing costs , interest accruing on money borrowed for the Project before the collection of taxes levied therefor, and all other costs necessarily incurred and to be incurred from the inception to the completion of the Project, is estimated to be at least equal to the amount of the bonds herein authorized. 4. The bonds of said issue maturing in the years and bearing the serial numbers set forth below shall bear interest , payable October 1, 1974 and semiannually there- after on April 1 and October 1 of each year, at the respec- tive rates per annum set opposite said maturity years and serial numbers : Maturity Years Serial Numbers Interest Rate 1976/80 1 - 25 4.80% 1981/84 26 - 45 5.00% 1985/86 46 - 56 5.20% 5. All bonds of this ssue mat4jing in the years 1985 and 1986, (bonds numbered to , both inclusive) , shall be subject to redemption and prepayment at the option of the City in inverse order of serial numbers , on April 1,1984 and on any interest payment date thereafter at par and accrued interest . Published notice of redemption shall in each case be given in accordance with law , and at least thirty days prior mailed notice of redemption shall be given to the bank where said bonds are payable and to the last known holders , provided that published notice alone shall be effective without mailed notice. Holders desiring to receive mailed notice must register their names , addresses and bond numbers with the City Clerk. 6. The bonds and interest coupons to be issued hereunder shall be in substantially the following form: