Ord 2007-008 - Laserfiche WebLink

Home Browse Search

Paymg Agent/RegIstrar, If and when funds for the payment of such mterest have been receIved from the CIty NotIce of the SpecIal Record Date and of the scheduled payment date of the past due mterest (the "Special Payment Date", whIch shall be 15 days after the Special Record Date) shall be sent at least five busmess days pnor to the Special Record Date by Umted States mail, first class postage prepaId, to the address of each regIstered owner of a CertIficate appeanng on the books of the Paying Agent/Registrar at the close of bus mess on the last bus mess day precedmg the date of maIlmg such notIce If a date for the payment of the pnncIpal of or mterest on the CertIficates IS a Saturday, Sunday, legal holiday, or a day on whIch bankmg mstitutIOns 10 the city 10 whIch the DesIgnated Payment/Transfer Office IS located are authonzed by law or executive order to close, then the date for such payment shall be the next succeedmg day which IS not a Saturday, Sunday, legal holiday, or day on whIch such bankmg mstltutIOns are authonzed to close, and payment on such date shall have the same force and effect as If made on the ongmal date payment was due This CertIficate IS one of a senes of fully regIstered certIficates of obligatIOn speCIfied in the tItle hereof Issued in the aggregate pnncIpal amount of $6,905,000 (herem referred to as the "Certificates"), issued pursuant to a certam Ordinance ofthe CIty Council of the City (the "Ordmance"), for the following purposes constructmg, acqulflng and eqUippmg a conference center facility and related Improvements includmg parkmg facilitIes and utility and mfrastructure Improvements to be located 10 the vIcImty of the northeast sIde of the mtersectIOn of McCarty Lane and IH-35, capltahzmg mterest on the CertIficates, and the payment of professIOnal servIces 10 connectIOn therewIth mcludmg legal, fiscal and engmeenng fees and the costs of Issumg the CertIficates The CertIficates and the mterest thereon are payable from the levy of a duect and contmumg ad valorem tax, wlthm the limIt prescribed by law, agamst all taxable property 10 the City and by a hmIted pledge of certam Surplus Revenues of the CIty's waterworks and sewer system, all as proVIded 10 the Ordmance The CIty has reserved the optIOn to redeem the CertIficates matunng on and after February 15,2017, before theIr respective scheduled matunty 10 whole or from time to tIme 10 part 10 mtegral multIples of $5,000, on February 15, 2016, or on any date thereafter, at a pnce equal to the pnnclpal alTlount ofthe Certificates so called for redemptIOn plus accrued mterest to the redemption date Ifless than all of the CertIficates are to be redeemed, the CIty shall determme the alTlounts thereof to be redeemed and shall duect the Paymg Agent/RegIstrar to call by lot CertIficates, or portIons thereofwlthm such matunty or matunties and 10 such alTlounts, for redemptIOn. Notice of such redemptIOn or redemptions shall be sent by Umted States mall, first class 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 10 part. Notice having been so gIven, the CertIficates or portIOns thereof deSignated for redemptIOn shall become due and payable on the redemption date speCified 10 such notice, and from and after such date, notwlthstandmg that any of the Certificates or portIOns thereof so called for redemptIOn shall not have been surrendered for payment, mterest on such Certificates or portIOns thereof shall cease to accrue CondItional notIce of redemptIOn may also be gIven as proVIded 10 the Ordmance With respect to any optIOnal redemptIOn of the CertIficates, unless certam prereqUisItes to such redemptIOn required by the Ordmance have been met and moneys suffiCIent to pay the pnnclpal of and premium, If any, and mterest on the CertIficates to be redeemed shall have been received by the Paymg Agent/RegIstrar pnor to the gIvmg of such notIce of redemption, such notIce shall state that saId redemptIOn S an Marcos CTRCO 2007 A. Ordinance 18