Ord 2004-074 - Laserfiche WebLink

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I I I ARTICLE IV REDEMPTION OF BONDS BEFORE MATURITY Section 4.01 Limitation on Redemption The Bonds shall be subject to redemption before scheduled maturity only as provided in this Article IV. Section 4.02. Redemption of Bonds Prior to Maturitv. (a) Optional Redemption (i) The Bonds reserves the option to redeem the Bonds maturing on and after August 15,2014, in whole or in part, before their scheduled maturity date, on August 15,2013, or on any date thereafter (such redemption date or dates to be fixed by the City) at a price equal to the principal amount of the Bonds called for redemption plus accrued interest from the most recent interest payment date on which interest has been paid or duly provided for to the redemption date. (ii) The City, at least forty-five (45) days before the redemption date (unless a shorter period shall be satisfactory to the Paying Agent/Registrar), shall notify the Paying Agent/Registrar of such redemption date and of the principal amount of Bonds to be redeemed. (b) Mandatory Sinking Fund Redemption. (i) The Bonds scheduled to mature on August 15,2022 (the "Term Bonds") are subject to sched u led mandatory redem ption by the Payi ng Agent/Registrar (or DTC or a successor securities depository, as applicable, if the Bonds are in Book-Entry form) by lot, or by any other customary method that results in a random selection, at a price equal to the principal amount thereof, plus accrued IIlterest to the redemption date, out of moneys available for such purpose in the Interest and Sll1king Fund, on the dates and in the respective principal amounts, set forth in the following schedule: Term Bond Maturity: August 15,2022 Mandatory Principal Amount Redemption Date August 15,2021 $875,000 August 15,2022 (matunty) 920,000 (ii) The prlllclpaI amount of Term Bonds of a stated maturity required to be redeemed on any mandatory redemption date pursuant to the operation of the mandatory sinking fund redemption prov isions hereof shall be reduced, at the option of the City, by the principal amount of any Term Bonds of the same maturity which, at least 50 days prior to a mandatory redemption date (1) shall have been acquired by the City and delivered to the Paying Agent/Registrar for cancellation, (2) shall have been purchased and canceled by the PaYing Agent/Registrar at the request of the City, or (3) shall have been redeemed pursuant to the optional redemption prOVISions and not theretofore credited agall1st a mandatory Sinking fund redemption requirement. RSall Marcus WWSSRllJ"A,l)ocsJlrd"""1cc'WW Urd hllal "I'd 12