Ord 2000-009 - Laserfiche WebLink

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Payment Date", which shall be 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 ofa Bond appearing on the books of the Paying Agent/Registrar at the close of business on the last business day preceding the date of mailing such notice. If a date for the payment of the principal of or interest on the Bonds is a Saturday, Sunday, legal holiday, or a day on which banking institutions in the city in which the Designated Payment/Transfer Office is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday, or day on which such banking institutions are authorized to close; and payment on such date shall have the same force and effect as if made on the original date payment was due. This Bond is one of a series of fuBy registered bonds specified in the title hereof issued in the aggregate principal amount of $1 ,500,000 (herein referred to as the "Bonds"), issued pursuant to a certain Ordinance of the City Council of the City (the "Ordinance") for the purpose of acquiring land and interests in land to be used for construction of city streets, including right-of way for extension of Wonder World Drive to Ranch Road 12 with connections to existing streets, as more fully described in the Ordinance. The Bonds and the interest thereon are payable from the levy of a direct and continuing ad valorem tax, within the limits prescribed by law, against all taxable property in the City. The City has reserved the option to redeem the Bonds maturing on and after August 15,2010, before their respective scheduled maturity in whole or in part in integral multiples of$5,OOO on August 15,2009, 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 amounts thereof to be redeemed and shall direct the Paying Agent/Registrar to call by lot Bonds, or portions thereof within such maturity or maturities and in such amounts, for redemption. The Bonds scheduled to mature on August 15,2000 (collectively, the "Term Bonds") are subjectto scheduled mandatory redemption by the Paying Agent/Registrar 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 interest to the redemption date, out of moneys available for such purpose in the interest and sinking fund for the Bonds, on the dates and in the respective principal amounts, set fQrth in the following schedule: Term Bond Maturity: August 15, 2020 Mandatory Redemption Date Principal Amount August 15,2018 $105,000 August 15,2019 110,000 August 15,2020 (maturity) 115,000 The principal 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 provisions shaH be reduced, at the option of the City, by the principal amount of any Term Bonds ofthe same maturity which, at least 50 days prior to a mandatory redemption date (1) shall have been acquired by the City and delivered R:\SANMARIGO.OOIDOCS\FINALIOrdgo.wpd 17