Ordinance No. 18636 - Laserfiche WebLink

Home Browse Search

I$636 DATE AMOUNT DATE AMOUNT 1981 $loo,000 19$9 $300,000 1982 125,000 1990 325,000 1983 150,000 1991 350,000 19$4 175,000 1992 350,000 1985 200,000 1993 375,000 1986 225,000 1994 440,044 1987 250,000 1995 400,000 1988 275,000 Section 2. Redemption. The bands maturing on or prior to July 1, 1990 shall not be subject to call or redemption prior to maturity. The bonds maturing after July 1, 1990 ar any of them may be called before maturity in whole or in part in inverse order of maturity and by lot within each maturity at the option of the City on July 1, 1990, or on any interest payment date thereafter, upon payment of a redemption price equal to the principal amount thereof with accrued interest to the date of redemption, plus a premium equal to one-fourth X1/4} of one percent ~l~} of said principal amount for each year or fraction of a year from the redemption date to the maturity date , with a maximum premium not to exceed two percent ~ 2 ~ } . Section 3. Signatures. Each of the bonds shall be signed with the facsimile signatures of the Mayor of the City in office on the date of execution of such bonds and by the Finance Officer of the City in office an such date , and the coupons appertaining to the bonds shall be executed with the facsimile s ignatures of such Mayor and Finance Officer . Section 4. Securit The full faith and credit of the City are pledged to the successive holders of each of the bonds and of the interest coupons appertaining thereto, far the punctual payment of such obligations, when due; and the City shall levy annually, as provided by law, a direct ad valorem tax upon all of the taxable property within the City in sufficient amount, after taking into consideration discounts taken and delinquencies that may occur in the payment of such taxes and all other monies reasonably available for the payment of debt service on the bonds, to pay the bond and bond interest obligations promptly as they respectively mature; and the City covenants with the holders of its bonds to levy such a tax annually during each year that any of the bonds, or bonds issued to refund them, and bond interest Obligations, are outstanding. Section 5. Form. The bonds and the coupons attached thereto shall be in substantially the following form: Page 2 - ordinance