Ord 1993-038 - Laserfiche WebLink

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) 5DlfA amount of $15,955,000 (herein referred to as the "Bonds") pursuant to a certain Ordinance of the City Council of the City (the "Ordinance") for the purpose of refunding certain obligations of the City payable from a lien on and pledge of certain Pledged Revenues, including the Net Revenues of the City's Electric Light and Power System. The Bonds, together with certain Previously Issued Parity Bonds (defined and described in the Ordinance), and the interest thereon are payable from and secured by a first lien on and pledge of the Pledged Revenues (which include the Net Revenues of the City's Electric Light and Power System) as defined in the Ordinance. The Holder hereof shall never have the right to demand payment of this obligation out of any funds raised or to be raised by taxation, or from any source whatsoever other than the aforesaid Pledged Revenues. The City has reserved the right, subject to the restrictions stated in the Ordinance, to issue, addi tional parity revenue bonds and obligations, which also may be payable from and secured by a first lien on and pledge of the Pledged Revenues. The City has reserved the option to redeem the Bonds "maturing on and after November 1, 2003, before their respective scheduled maturities in whole or in part in integral multiples of $5,000 on November 1, 2002, or on any date thereafter, at a price equal to the principal amount of the Bonds so called for redemption pIus accrued interest to the redemption date. If less than all of the Bonds are to be redeemed, the City shall determine the amounts thereof to be redeemed and shal1 direct the Paying Agent/Registrar to call by 10t Bonds, or portions thereof within such maturity or maturities and in such amounts, for redemption. The Bonds scheduled to mature on November 1, 2016, are subject to mandatory sinking fund redempti.on in part at random (in such manner as the Paying Agent/Registrar, with the approval of the Ci ty , deems fair and appropriate) on the dates and in the respective principal amounts set forth below, at a redemption price equal to the principal amount thereof plus accrued interest to the date of redemption: Amount to Date be Redeemed November 1, 2012 $1,005,000 November 1, 2013 1,060,000 November 1, 2014 1,125,000 November I, 2015 1,190,000 November I, 2016 (maturity) 1,265,000 4588f -23-