Laserfiche WebLink
226 <br /> <br /> 2. The Proposal of the Purchaser to purchase the <br />Bonds for a purchase price equal to the principal amount <br />thereof plus a premium of one hundred Dollars ($100.00) and <br />accrued interest from the date of the Bonds to the date of <br />the payment in full of the purchase price thereof is hereby <br />accepted. In accordance with the terms of the Proposal of <br />the Purchaser, the Bonds shall bear interest at the rates <br />per annum as set forth in paragraph 4. <br /> <br /> 3. Ail action taken to date by the officials of the <br />City with respect to the sale of the Bonds, including the <br />action of the Director of Finance of the City in causing to <br />be published on March 26, 1986 in The Bond Buyer, a <br />financial newspaper published in the City of New York, New <br />York, and on March 28, 1986 in The Daily Progress, a <br />newspaper of general circulation published in the City, a <br />Notice of Sale relating to the Bonds, and the action of the <br />Director of Finance of the City in causing to be published <br />a correction to the Notice of Sale on March 31, 1986 in The <br />Bond Buyer, and the actions of the Mayor, the Director of <br />Finance and other officials of the City in causing to be <br />distributed copies of an Official Statement relating to the <br />Bonds (including the Notice of Sale of the Bonds contained <br />therein) and a Proposal Form for the submission of <br />proposals for the purchase of the Bonds in the respective <br />forms thereof presented at the meeting of the Council held <br />on April 9, 1986, and the form and contents of such Notice <br />of Sale, Official Statement and Proposal Form, and the <br />details of the Bonds described therein, are hereby <br />approved, ratified and confirmed. <br /> <br /> 4. (a) The Bonds shall be issued in fully registered <br />form and shall be in the denomination of $5,000 each or any <br />integral multiple thereof. The Bonds shall be numbered <br />from R-1 upwards in order of issuance. The Bonds shall be <br />dated as of April 1, 1986, and shall mature serially on <br />June 1 in the principal amount of $300,000 in each of the <br />years 1987 through 2006, inclusive. The Bonds maturing in <br />each year shall bear interest from their date payable on <br />December 1, 1986 and semiannually on each June 1 and <br />December 1 thereafter at the rate per annum set forth <br />opposite such year below: <br /> <br /> Interest Interest <br />Year Rate Year Rate <br /> <br />1987 5.90% 1997 6.10%~ <br />1988 5.90 1998 6.25 <br />1989 5.90 1999 6.40 <br />1990 5.90 2000 6.50 <br />1991 5.90 2001 6.60 <br />1992 5.90 2002 6.60 <br />1993 5.90 2003 6.70 <br />1994 5.90 2004 6.75 <br />1995 5.90 2005 6.75 <br />1996 6.00 2006 6.75 <br /> <br /> (b) The Bonds maturing on and after June 1, 1997 <br />(or portions thereof in installments of $5,000 or any <br />integral multiple thereof) shall be subject to redemption <br />at the option of the City prior to their stated maturities, <br />on or after June 1, 1996, in whole at any time or in part <br />from time to time on any interest payment date, from any <br />monies that may be made available for such purpose, in such <br />order as may be determined by the City (except that if at <br />any time less than all of the Bonds of a given maturity are <br />called for redemption, the particular Bonds of such <br />maturity or portions thereof in installations of $5,000 to <br />be 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 /> <br /> <br />