Ord 2000-027 - Laserfiche WebLink

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(b) The Certificates shall mature on August 15 in the years and in the principal amounts and interest rates set forth below, interest on each Certificate 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 February 15,2001, as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 2002 $45,000 6.50% 2012 $80,000 5.30% 2003 45,000 6.50% 2013 85,000 5.35% 2004 50,000 6.50% 2014 90,000 5.40% 2005 50,000 6.50% 2015 100,000 5.45% 2006 55,000 6.50% 2016 100,000 5.50% 2007 60,000 6.50% 2017 105,000 5.55% 2008 60,000 6.50% 2018 115,000 5.60% 2009 65,000 6.50% 2019 120,000 5.65% 2010 70,000 5.30% 2020 130,000 5.70% 2011 75,000 5.25% Section 3.03. Medium. Method and Place of Payment. (a) The principal of, premium, if any, and interest on the Certificates shall be paid in lawful money of the United States of America as provided in this Section. (b) Interest on the Certificates 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 Certificate 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 Certificates 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; R:ISAA'MAR\CO.OOA\DOCS\FINAL\ORDCO.WPD 5