Ord 1996-038 - Laserfiche WebLink

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qy Date to which interest has been paid or provided for at the ~r 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, 1997, as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1998 $100,000 3.20% 2008 $425,000 4.40% 1999 100,000 3.40% 2009 525,000 4.50% 2000 100,000 3.55% 2010 615,000 4.60% f 2001 100,000 3.70% 2011 645,000 4.70% 2002 100,000 3.80% 2012 675,000 4.75% ¡ 2003 100,000 3.90% 2013 705,000 4.80% 2004 100,000 4.00% 2014 735,000 4.80% 2005 100,000 4.10% 2015 770,000 4.85% 2006 400,000 4.20% 2016 805,000 4.85% 2007 400,000 4.30% 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 O\vl1erS 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 AgentlRegistrar if and when funds for the payment of such interest have been received ITom 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, tirst class postage prepaid, to the address of each O\Viler of a Bond appearing on the books of the Paying AgentlRegistrar 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 i by the Paying AgentlRegistrar to the person entitled to such payment by United States mail, fITSt 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; pro\ided, hO\vever, that such person shall bear all risk and e:'.-penses of such other customary banking arrangements; and, further prO\ided, that so long as the Texas Water Development Board is the O\'mer of the Bonds, payments of interest shall be made by federal fimds wire transfer, at no expense to such O\vl1er, unless such O\vl1er shall agree in writing to payment of interest as othemise provided herein or by some other method that is also acceptable to the City. (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 thereof) upon presentation and surrender of such Bond at the Designated Payment/Transfer Office. '" 'SA. ~ 'MAll' lOWS S. ,., DC<;3',O JlD" CE. '" 5