Ord 2000-009 - Laserfiche WebLink

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(b) The Bonds shall mature on August 15 in the years and in the principal amounts and interest rates set forth below, interest on each Bond accruing from the Original Issue Date or the most recent Interest Payment Date to which interest has been paid or provided for at the per annum rates of interest, payable semiannually on February 15 and August 15 of each year until the principal amount shall have been paid or provision for such payment shall have been made, commencing August 15, 2000, as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 2001 $ 50,000 5.250% 2011 65,000 5.500% 2002 30,000 5.250% 2012 100,000 5.600% 2003 40,000 5.250% 2013 100,000 5.700% 2004 45,000 5.250% 2014 100,000 5.800% 2005 55,000 5.250% 2015 100,000 5.900% 2006 55,000 5.250% 2016 100,000 6.000% 2007 55,000 5.250% 2017 100,000 6.000% 2008 55,000 5.300% 2020 330,000 6.000% 2009 60,000 5.400% 2010 60,000 5.400% 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 Owners whose names appear in the Register at the close of business on 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 (a "Special Record Date") will be established by the Paying Agent/Registrar 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 five business days prior to the Special Record Date by United States mail, first class postage prepaid, to the address of each Owner of a Bond appearing on the books of the Paying Agent/Registrar at the close of business on the last business day next 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 by United States mail, first class 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 aU risk and expenses of such other customary banking arrangements. R:\SANMAR\GO.OOIDOCSlFINAL\Ordgo.wpd 5