Ord 1992-032 - Laserfiche WebLink

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Section 3.02. Date. Denomination. Maturities. Numbers and Interest. (a) The Bonds shall have the Original Issue Date of April I, 1992, shall be in fully registered form, 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 January 1 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 annum rates of interest, payable semiannually on January I and July I of each year until the principal amount shall have been paid or provision for such payment shall have been made, commencing January I, 1993, as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1993 $25,000 8.-5"0 % 2000 $50,000 S'~() % 1994 50,000 B.SO % 2001 50,000 6.00 % 1995 60,000 ~...s;t) % 2002 50,000 b.l'O % 1996 65,000 ~..~ % 2003 75,000 ~ . '2..0 % 1997 50,000 ~ . '!."1.S % 2004 100,000 b.30 % 1998 50,000 S.S"b % 2005 175,000 6.40 % 1999 50,000 s- .-, () % 2006 200,000 (o.~ % Section 3.03. Medium. Method and Place of Payment. (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, howeve r, 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. 4322f -6-