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Resolution - #21-276 - 09/28/2021
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Resolution - #21-276 - 09/28/2021
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4/10/2025 12:42:03 PM
Creation date
9/29/2021 8:28:30 AM
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Resolutions & Ordinances
Resolutions or Ordinances
Resolutions
Resolution or Ordinance Number
#21-276
Document Date
09/28/2021
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To effect a partial redemption of Bonds having a common maturity date, the Bond <br />Registrar prior to giving notice of redemption shall assign to each Bond having a common <br />maturity date a distinctive number for each $5,000 of the principal amount of such Bond. The <br />Bond Registrar shall then select by lot, using such method of selection as it shall deem proper in <br />its discretion, from the numbers so assigned to such Bonds, as many numbers as, at $5,000 for <br />each number, shall equal the principal amount of such Bonds to be redeemed. The Bonds to be <br />redeemed shall be the Bonds to which were assigned numbers so selected; provided, however, <br />that only so much of the principal amount of each such Bond of a denomination of more than <br />$5,000 shall be redeemed as shall equal $5,000 for each number assigned to it and so selected. If <br />a Bond is to be redeemed only in part, it shall be surrendered to the Bond Registrar (with, if the <br />City or Bond Registrar so requires, a written instrument of transfer in form satisfactory to the <br />City and Bond Registrar duly executed by the Holder thereof or the Holder's attorney duly <br />authorized in writing) and the City shall execute (if necessary) and the Bond Registrar shall <br />authenticate and deliver to the Holder of the Bond, without service charge, a new Bond or Bonds <br />having the same stated maturity and interest rate and of any Authorized Denomination or <br />Denominations, as requested by the Holder, in aggregate principal amount equal to and in <br />exchange for the unredeemed portion of the principal of the Bond so surrendered. <br /> <br />6.Bond Registrar. Bond Trust Services Corporation, in Roseville, Minnesota, is <br />appointed to act as bond registrar and transfer agent with respect to the Bonds (the "Bond <br />Registrar"), and shall do so unless and until a successor Bond Registrar is duly appointed, all <br />pursuant to any contract the City and Bond Registrar shall execute which is consistent herewith. <br />The Bond Registrar shall also serve as paying agent unless and until a successor paying agent is <br />duly appointed. Principal and interest on the Bonds shall be paid to the registered holders (or <br />record holders) of the Bonds in the manner set forth in the form of Bond and paragraph 12. <br /> <br />7.Form of Bond. The Bonds, together with the Bond Registrar's Certificate of <br />Authentication, the form of Assignment and the registration information thereon, shall be in <br />substantially the following form: <br /> <br /> 6 <br /> <br />71128706v1 <br /> <br /> <br />
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