Ord 1987-050a - Laserfiche WebLink

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name this Bond is registered at the close of business on the "Record Date," which shall be the fifteenth day of the month next preceding such interest payment date. Reference is hereby made to the further provisions of this Bond set forth on the reverse side hereof, and such further provisions shall for all purposes have the same effect as if set forth on the face hereof. * This Bond is one of a series of fully registered bonds specified in the title hereof issued on the aggregate principal amount of $6,680,000 (herein referred to as the "Bonds") and issued pursuant to a certain Ordinance of the City (the "Bond Ordinance") for the purpose of refunding certain outstanding obligations of the City. * The Bonds 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 Bond Ordinance. * The City reserves the right to issue additional obligations which may be payable from the same source, secured in the same manner, and placed on a parity with this Bond and the series of which it is a part. * The City has reserved the option to redeem the Bonds maturing on or after August 1, 1998, before their respective scheduled maturities in whole or in part in integral multiples of $5,000 on August 1, 1997, or on any date thereafter, at a price equal to the principal amount of the Bonds so called for redemption plus accrued interest to the redemption date. If less than all of the Bonds are to be redeemed, the City shall determine the maturity or maturities and the amounts thereof to be redeemed and shall direct the Paying Agent/Registrar to call for redemption, by lot, Bonds or portions thereof within such maturity or maturities and in such amounts so determined. * 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 Bonds to be redeemed in whole or in part. Notice having been so given, the Bonds 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 Bonds or portions thereof so called for redemption shall not have been surrendered for payment, interest on such Bonds or portions thereof shall cease to accrue. * As provided in the Bond Ordinance, and subject to certain limitations therein set forth, this Bond is transferable upon surrender of this Bond for transfer at the principal corporate 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 fully registered Bonds of the same stated maturity, of authorized denominations, bearing the same rate of interest, and for the same aggregate principal amount will be issued to the designated transferee or transferees. * Neither the City nor the Paying Agent/Registrar shall be required to issue, transfer or exchange any Bond called for redemption where such redemption is 1659f -18-