Ord 2000-011 - Laserfiche WebLink

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Term Bond Maturity: August 15, 2020 Mandatory Redemption Date Principal Amount August 15,2018 $200,000 August 15,2019 300,000 August 15,2020 (maturity) 500,000 (ii) 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 hereof shall 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 to the Paying Agent/Registrar for cancellation, (2) shall have been purchased and canceled by the Paying Agent/Registrar at the request of the 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 Bonds, 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 Bonds, and the principal amount of Term Bonds 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 Bonds then to be subject to mandatory redemption equal to the aggregate Principal Amount of such Term Bonds to be redeemed, shall call such Bonds 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) Ifless 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 (or DTC or a successor securities depository, as applicable, ifthe Certificates are in Book-Entry-Only form) to call by lot Bonds, or portions thereof within such maturity and in such principal amounts, for redemption. (b) A portion of a single Bond of a denomination greater than $5,000 may be redeemed, but on ly 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 Bond as though it were a single Bond for purposes of selection for redemption. (c) Upon surrender of any Bond for redemption in part, the Paying Agent/Registrar, in accordance with Section 3.06 of this Ordinance, shall authenticate and deliver an exchange Bond or Bonds in an aggregate principal amount equal to the unredeemed portion of the Bond so surrendered. (d) The Paying Agent/Registrar shall promptly notify the City in writing of the principal amount to be redeemed of any Bond as to which only a portion thereof is to be redeemed. R:\SANMAR\ WWSS.OOIDOCSIFinaIIORDWWSS. WPD 12