Ord 1988-019 - Laserfiche WebLink

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Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1990 $60,000 9-,/ó % 1998 $100,000 6.7() % 1991 75,000 '¡'¿¡() % 1999 125,000 /;.1tl % 1992 75,000 C¡.1IJ % 2000 125,000 7.tl{) % 1993 75,000 ¿¡.J//) % 2001 125,000 7.co % 1994 75,000 't.,!/) % 2002 125,000 'i.t}O % 1995 75,000 9.7'0 % 2003 150,000 7.CO % 1996 75,000 ø. '10 % 2004 325,000 IF .5"0 % 1997 75,000 ø .:ft> % Section 3.03. Medium. Method and Place of Payment. (a) The principal of, premium, if any, and interest on the Bonds shall be paid in lawful money of the United States of America as provided in this Section. (b) Interest on the Bonds shall be payable to the Owner whose name appears in the Register at the close of business on the 15th calendar day of the month preceding such Interest Payment Date (the "Record Date"); provided, however, that in the event of nonpayment of interest on a scheduled interest payment date, and for 30 days thereafter, a new record date for such interest payment (the "Special Record Date") will be established by the Paying Agent/Registrar (hereinafter defined and designated) if and when funds for the payment of such interest have been received from the City. Notice of the Special Record Date and of the scheduled payment date of the past due interest (the "Special Payment Date", which shall be at least 15 days after the Special Record Date) shall be sent at least 5 business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each holder of a Bond appearing on the books of the Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing of such notice. (c) Interest on the Bonds shall be paid by check (dated as of the Interest Payment Date) and sent by the Paying Agent/Registrar to the person entitled to such payment, first class United States mail, postage prepaid, to the address of such person as it appears in the Register or by such other customary banking arrangements acceptable to the Paying Agent/Registrar and the person to whom interest is to be paid; provided, however, that such person shall bear all risk and expenses of such customary banking arrangements. (d) The principal of each Bond shall be paid to the person in whose name such Bond is registered on the due date thereof (whether at the maturity date or the date of prior redemption thereof) upon presentation and surrender of such Bond at the principal trust corporate office of the Paying Agent/Registrar. (e) If a date for the payment of the principal of or interest on the Bonds 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 2383f -5-