Ord 1996-032 - Laserfiche WebLink

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?~J of interest, payable semiannually on February 15 aad 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, 1997, as follows: Princip~ Interest Principal Interest Year Amount Rate Year Amount Rate .. 1998 $ 25,000 5.00% 2006 $100,000 6,375% 1999 25,000 5.00% 2007 100,000 5.10% 2000 25,000 5.00% 2008 100,000 5.10% 2001 25,000 5.00% 2009 100,000 5.20% 2002 25,000 5,00% 2010 300,000 5.30% 2003 25,000 5.00% 2011 300,000 5,40% 2004 50,000 5.00% 2012 200,000 5.50% 2005 100,000 7,00% 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, 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 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 shall bear all risk and expenses of such other customary banking arrangements. (d) The principal of each Bond shall be paid to the person in whose name such Bond is registered on the due date thereof (whether at the maturity date or the date of prior redemption thereat) upon presentation and surrender of such Bond at the Designated Payment/Transfer Office. ",,'SA>o'MAJl,W-..SS. "" noCS".CJ<D"""""" 6