Ord 1997-031 - Laserfiche WebLink

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I I - SectlOn 4 03 PartIal RedemptIon. (a) Ifless than all of the Bonds are to be redeemed, the CIty shall determme the amounts thereof to be redeemed and shall dIrect the PaYillg Agent/Reglstrar to call by lot Bonds, or portions thereof wlthm such maturlty and m such prillclpal amounts, for redemphon. (b) A portlOn of a smgle Bond of a denomination greater than $5,000 may be redeemed, but only m a prmclpal amount equal to $5,000 or any mtegral multlple thereof. The Paying Agent/Reglstrar shall treat each $5,000 portlOn of the Bond as though lt were a single Bond for purposes of selectlOn for redemptlOn. (c) Upon surrender of any Bond for redemphon in part, the Paymg Agent/RegIstrar, m accordance WIth Sectlon 3 06 of thIS Ordmance, shall authenticate and dehver an exchange Bond or Bonds ill an aggregate prmclpal amount equal to the unredeemed portlOn of the Bond so surrendered. (d) The PaYlllg Agent/RegIstrar shall promptly notrfy the Clty in wnting of the prlllcipal amount to be redeemed of any Bond as to whlch only a portlOn thereof lS to be redeemed. Section 4 04 Notlce of RedemptlOn to Owners (a) The PaYlllg AgentlReglstrar shall glve notlce of any redemptlOn of Bonds by sendmg nohce by Ulllted States mail, first class postage prepaid, not less than 30 days before the date fixed for redemption, to the Owner of each Bond (or part thereof) to be redeemed, at the address shown on the Register (b) The notlce shall state the redemption date, the redemptlOn price, the place at wmch the Bonds are to be surrendered for payment, and, ifless than all the Bonds outstandmg are to be redeemed, an ldenhficahon of the Bonds or portIons thereof to be redeemed. (c) Any nohce given as provlded m thlS SectlOn shall be concluslvely presumed to have been duly glven, whether or not the Owner recelves such nohce. SectlOn 405 Payment Upon RedemptlOn, (a) Before or on each redemptlOn date, the Paymg Agent/RegIstrar shall make provIslOn for the payment of the Bonds to be redeemed on such date by settmg aSlde and holdmg m trust an amount from the Interest and Smklllg Fund or otherwIse received by the PaYlllg Agent/Reglstrar from the City suffiCIent to pay the pnnclpa1 of, prermum, lf any, and accrued mterest on such Bonds, (b) Upon presentation and surrender of any Bond called for redemption at the DeSIgnated Payment/Transfer Office on or after the date fixed for redemption, the Paying Agent/Registrar shall pay the pnncIpaI of, premmm, If any, and accrued mterest on such Bond to the date of redemption from the money set aSIde for such purpose. Sechon 4 06 Effect of Redemphon. (a) Notice of redemption havmg been given as proVIded m SectlOn 4 04 of thIs Ordinance, the Bonds or portlOns thereof called for redemptlOn shall become due and payable on the date fixed for redemptlOn and, unless the CIty defaults ill the payment of the pnncIpal thereof, premlum, lf any, or accrued interest thereon, such R:I.SA......."'MAR\\VWSS.Il7\DOCS\ORDNCE. 12