Ord 2000-010 - Laserfiche WebLink

Home Browse Search

Term Certificate Maturity: August 15, 2020 Mandatory Redemption Date Principal Amount August 15,2018 $110,000 August 15,2019 115,000 August 15, 2020 (maturity) 120,000 (ii) The principal amount of Term Certificates of a stated maturity required to be redeemed on any mandatory redemption date pursuant to the operation of the mandatory sinking fund redemption provisions hereof shall be reduced, at the option of the City, by the principal amount of any Term Certificates 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 ofthe City, or (3) shall have been redeemed pursuant to the optional redemption provisions and not theretofore credited against a mandatory sinking fund redemption requirement. (iii) The City reserves the right to purchase Term Certificates, in lieu of redemption, at a price not exceeding the principal amount thereof, plus accrued interest, with moneys on deposit in the Interest and Sinking Fund which are available for mandatory redemption of the Term Certificates, and the principal amount of Term Certificates so purchased and delivered to the Paying Agent/Registrar at least 50 days prior to a mandatory redemption date shall be credited against the amount required to be called for redemption in that year. (iv) At least thirty (30) days prior to each scheduled Mandatory Redemption Date, the Paying Agent/Registrar shall select for redemption a principal amount of Term Certificates then to be subject to mandatory redemption equal to the aggregate Principal Amount of such Term Certificates to be redeemed, shall call such Certificates for redemption on such scheduled Mandatory Redemption Date, and shall give notice of redemption, as provided in Section 4.04. Section 4.03. Partial Redemption. (a) If less than all of the Certificates are to be redeemed pursuant to Section 4.02(a), the City shall determine the maturities and amounts thereof to be redeemed and shall direct the Paying Agent/Registrar (or DTC or a successor securities depository, as applicable, ifthe Certificates are in Book- Entry-Only form) to call by lot Certificates, or portions thereof within such maturity and in such principal amounts, for redemption. (b) A portion of a single Certificate of a denomination greater than $5,000 may be redeemed, but only in a principal amount equal to $5,000 or any integral multiple thereof. The Paying Agent/Registrar shall treat each $5,000 portion of the Certificate as though it were a single Certificate for purposes of selection for redemption. R:\SANMAR'CO.OO\lJocsIflNALIORDCO.WPD 14