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271 <br /> <br /> Interest <br />Year Rate Year <br /> <br />1990 2000. <br />1991 2001 <br />1992 2002 <br />1993 2003 <br />1994 2004 <br />1995 2005 <br />1996 2006 <br />1997 2007 <br />1998 2008 <br />1999 ~ · 2009 <br /> <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br /> <br />Interest <br />Rate <br /> <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br />6.75% <br /> <br /> (b) The Bonds maturing on and after July 15, 2000 <br />(or portions thereof in installments of $5,000) shall be <br />subject to redemption at the option of the City prior to <br />their stated maturities, on or after July 15, 1999, in whole <br />at any time or in part on any intereSt payment 'date, from any <br />moneys that may be made available for such purpose, in such <br />order as may be determined by the City (except that if-at any <br />time less than all of the Bonds of a given maturity are <br />called for redemption, the particular Bonds: or portions <br />thereof in installments of $5,000 of such maturity to be <br />redeemed shall be selected by lot), upon payment of the <br />principal amount of the Bonds (or portions thereof in <br />installments of $5,000) to be redeemed, together with the <br />interest accrued thereon to the ~date fixed for redemption, <br />plus a premium of one-quarter (1/4) of one percent (1%) of <br />the principal amount of each Bond to be~redeemed for eaCh <br />twelve (12) month period or fraction thereof from. and <br />excluding the'ate fixed for redemption to and including, the <br />stated maturity date of such Bond; provided, however, that <br />such redemption premium shall not exceed twopercent (2%) of <br />such principal amount. <br /> <br /> 5. The Bonds are hereby designated as "qualified tax- <br />exempt obligations" for purposes of Section 265 of the Code. <br /> <br /> 6. The Bonds shall, as soon as practicable, be <br />prepared, executed and delivered at the expense of the City <br />to the Purchaser in accordance with the provisions of the <br />Bond Ordinance, the Detailed Notice of Sale and this <br />resolution and upon payment of the balance of the purchase <br />price for the Bonds. <br /> <br /> 7. The appointment of Crestar Bank.in the City of <br />Richmond, Virginia, as Registrar and Paying Agent for the <br />Bonds, is hereby approved, ratified and confirmed. <br /> <br /> 8. The City Attorney for the City is hereby directed to <br />file a copy of this resolution, certified by the Clerk of <br />Council of the City to be~a true and correct.copy hereof, <br />with the Clerk of the Circuit Court of the City. <br /> <br /> 9. This resolution shall take effect upon its adoption. <br /> The/-meeting~w~as adjourned <br /> <br />Pres~ent <br /> <br /> <br />