Ord 1988-017 - Laserfiche WebLink

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* If a date for the payment of the principal of or interest on the Certificates is a Saturday, Sunday, legal holiday, or a day on which banking institutions in the City in which the Paying Agent/Registrar is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. * This Certificate is one of a series of funy registered certificates of obligation specified in the title hereof issued in the aggregate principal amount of $1,340,000 (herein referred to as the "Certificates") and issued pursuant to a certain Ordinance of the City Council of the City (the "Ordinance") for the purpose of paying contractual obligations to be incurred for constructing and improving streets in said City and drainage facilities in connection therewith; and for payment of fees for professional services including engineering, attorneys and financial advisors. * The Certificates and the interest thereon are payable from the levy of a direct and continuing ad valorem tax against all taxable property in the City and by a pledge of and lien on certain Surplus Revenues of the City's combined Waterworks and Sewer System, all as provided in the Ordinance. * The City has reserved the option to redeem the Certificates maturing on or after August 1, 1999, before their respective scheduled maturities in whole or in part in integral multiples of $"5,000 on August 1, 1998, or on any interest payment date thereafter, at a price equal to the principal amount of the Certificates so caned for redemption plus accrued interest to the redemption date. If less than an of the Certificates are to be redeemed, the City shall determine the maturity or maturities and the amounts thereof to be redeemed and shan direct the Paying Agent/Registrar to call by lot Certificates, or portions thereof within such maturity or maturities and in such amounts, for redemption. * Notice of such redemption or redemptions shall be given by first class mail, postage prepaid, not less than 30 days before the date fixed for redemption, to the registered owner of each of the Certificates to be redeemed in whole or in part. Notice having been so given, the Certificates or portions thereof designated for redemption shall become due and payable on the redemption date specified in such notice, and from and after such date, notwithstanding that any of the Certificates or portions thereof so caned for redemption shan not have been surrendered for payment, interest on such Certificates or portions thereof shall cease to accrue. * As provided in the Ordinance, and subject to certain limitations therein set forth, this Certificate is transferable upon surrender of this Certificate for transfer at the principal corporate trust office of the Paying Agent/Registrar with such endorsement or other evidence of transfer as is acceptable to the Paying Agent/Registrar, and, thereupon, one or more new funy registered Certificates of the same stated maturity, of authorized denominations, bearing the same rate of interest, and for the same aggregate principal amount wi11 be issued to the designated transferee or transferees. 2389f -17-