Ord 1992-033 - Laserfiche WebLink

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issued and delivered in accordance with the Constitution and laws of the State of Texas in the aggregate principal amount of $2,895,000 for the following purposes: $420,000 for constructing and improving streets in said City, providing drainage facilities in connection therewith, and purchasing land and interests in land and properties necessary therefor; $275,000 for improving and equipping the City's existing library facilities; $65,000 for acquiring, equipping, improving and reconditioning fire fighting equipment and facilities; and $2,135,000 for constructing, improving and equipping a new central public library for said City. Section 3.02. Date. Denomination. Maturities. Numbers and Interest. (a) The Bonds shall have the Original Issue Date of April 1, 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 August 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 February 1 and August I of each year until the principal amount shall have been paid or provision for such payment shall have been made, commencing February 1, 1993, as follows: Principal Interest Principal Interest Year Amount Rate Year Amount Rate 1993 $ 45,000 'ß.L\Q % 2001 $175, 000 ~ .CO % 1994 100,000 Ç:.~ % 2002 175,000 b. \0 % 1995 125,OOO ~.4O % 2003 200,000 b.~ % 1996 125, 000 ~.~ % 2004 225,000 b.ßo % 1997 150,000 b.'l.S % 2005 300,000 b.40 % 1998 150,000 S.40 % 2006 325, 000 b.~ % 1999 175,000 S.bO % 2007 450,000 b..s:-o % 2000 175,000 S~%b % Section 3.03. Medium. Method and Place of Pavrnent. (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 4327f -5-