Ord 1997-030 - Laserfiche WebLink

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II~¡ Section 3.02. Date. Denomination. Maturities. Numbers and Interest. ~- (a) The Bonds shall have the Original Issue Date of July 15, 1997, shall be in fully registered fonn, without coupons, in the denomination of $5,000 or any integral multiple thereof, and shall be numbered separately from one upward or such other designation acceptable to the City and the Paying Agent/Registrar. (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 armum rates of interest, payable semiarmually 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, 1998, as follows: Principal Interest Principal Interest Year Amount Rate YeM Amount Rate 1999 $ 50,000 6.60% 2008 $155,000 4.60% 2000 50,000 6.60% 2009 165,000 4.70% 2001 50,000 6.60% 2010 175,000 4.80% 2002 50,000 6.60% 2011 180,000 4.90% 2003 50,000 6.60% 2012 190,000 5.00% 2004 50,000 6.60% 2013 205,000 5.00% 2005 50,000 6.60% 2014 210,000 5.00% 2006 50,000 6.60% 2015 215,000 5.05% 2007 150,000 4.60% 2016 230,000 5.10% 2017 225,000 5.10% Section 3.03. Medium. Method and Place ofPavment. (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, ho\vever, that in the event of nonpayment of interest on a scheduled Interest Pa}ment Date, and for 30 days thereafter, a new record date for such interest payment (a "Special Record Date") I,vill 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", I,vhich 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 shaH bear all risk and expenses of such other customary banking arrangements. R.'SA"MAA\WWss.""'OCS'OIlDNCE 5