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<br />semiannually on each January 15 and July 15 thereafter. The Bonds shall mature and become
<br />due and payable on July 15 in each of the years 1994 to 2013, both inclusive, in the principal
<br />amounts set forth opposite each such year below, with the Bonds maturing in each such year
<br />bearing interest at the rate per annum set forth opposite such year, as follows:
<br />Year
<br />Principal
<br />Interest
<br />Year
<br />Principal
<br />Interest
<br />(July 15)
<br />Amount
<br />Rate
<br />(July 15)
<br />Amount
<br />Rate
<br />1994
<br />$245,000
<br />3.95%
<br />2004
<br />$495,000
<br />4.65%
<br />1995
<br />245,000
<br />3.95
<br />2005
<br />810,000
<br />4.80
<br />1996
<br />245,000
<br />4.00
<br />2006
<br />805,000
<br />5.00
<br />1997
<br />250,000
<br />4.00
<br />2007
<br />795,000
<br />5.10
<br />1998
<br />250,000
<br />4.05
<br />2008
<br />790,000
<br />5.20
<br />1999
<br />255,000
<br />4.05
<br />2009
<br />780,000
<br />5.25
<br />2000
<br />505,000
<br />4.05
<br />2010
<br />525,000
<br />5.30
<br />2001
<br />500,000
<br />4.20
<br />2011
<br />200,000
<br />5.35
<br />2002
<br />500,000
<br />4.35
<br />2012
<br />200,000
<br />5.40
<br />2003
<br />495,000
<br />4.50
<br />2013
<br />200,000
<br />5.40
<br />(b) The Bonds maturing on and after July 15, 2004 (or portions thereof in
<br />installments of $5,000) shall be subject to redemption at the option of the City prior to their
<br />stated maturities, on or after July 15, 2003, in whole at any time, or in part on any interest
<br />payment date, from any moneys that may be made available for such purpose, in such order as
<br />may be determined by the City (except that if at any time less than all of the Bonds of a given
<br />maturity are called for redemption, the particular Bonds or portions thereof in installments of
<br />$5,000 of such maturity to be redeemed shall be selected by lot), upon payment of the principal
<br />amount of the Bonds (or portions thereof in installments of $5,000) to be redeemed, together
<br />with the interest accrued thereon to the date fixed for redemption, plus a premium of one-quarter
<br />(1/4) of one percent (1 %) of the principal amount of each Bond to be redeemed for each twelve
<br />(12) month period or fraction thereof from and excluding the date fixed for redemption to and
<br />including the stated maturity date of such Bond; provided, however, that in no event shall such
<br />premium shall exceed two percent (2%) of such principal amount.
<br />If any Bond (or any portion of the principal amount thereof in installments of
<br />$5,000) shall be called for redemption, notice of the redemption thereof, specifying the date,
<br />number and maturity of such Bond, the date and place or places fixed for its redemption, the
<br />premium, if any, payable upon such redemption, and if less than the entire principal amount of
<br />such Bond is to be redeemed, that such Bond must be surrendered in exchange for the principal
<br />amount thereof to be redeemed and a new Bond or Bonds issued equalling in principal amount
<br />that portion of the principal amount thereof not to be redeemed, shall be mailed not less than
<br />thirty (30) days prior to the date fixed for redemption by first class mail, postage prepaid, to the
<br />registered owner of such Bond at his address as it appears on the books of registry kept by the
<br />Registrar for the Bonds as of the close of business on the forty-fifth (45th) day next preceding
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