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I ~02. The sum of $-0- being the amount bid by the Purchaser
<br />in e×(;e~a o/ $392,100, shall be credited to the Debt Service Fund herein-
<br />after c~_eated. The C~ty Treasurer is directed to retain the good faith
<br />check oJ th~ Purchaser pending completion of the sale and delivery of the
<br />Bonds~ and to return the checks of the unsuccessful bidders forthwith. The
<br />Mayor ~nd CLty Administrator a.re directed to execute a contract with the
<br />Purcha~er o~ behalf of the City.
<br />
<br /> l~(i]~ The City shall forthwith issue and sell the Bonds in the total
<br />principal amount of $400,000, originally dated August 1, 1987, in the
<br />denominatior~ of $5,000 each or any integral multiple thereof, numbered
<br />No~ R,--] upward, bearing interest as above set forth, and which Bonds mature
<br />serially on February 1 in the years and amounts as follows:
<br />
<br />¥IAR AMOUNT YEAR AMOUNT
<br />1990 $ 10,000 1999 $ 20,000
<br />1991 10,000 2000 25,000
<br />1992 10,000 2001 25,000
<br />[993 15,000 2002 25,000
<br />i994 15,000 2003 30,000
<br />1(~95;. _ 15,000 2004 30,000
<br />i996 15,000 2005 35,000
<br />i~97 15,000 2006 40,000
<br />t998 20,000 2007 45,000
<br />
<br /> 1,04~ O_p~jonal Redemption. The City may elect on February i, 1996,
<br />and o~ any interest payment date thereafter, to prepay Bonds maturing on or
<br />after February 1, 1997. Redemption may be in whole or in part of the bonds
<br />subject to prepayment. If redemption is in part, those Bonds remaining
<br />unpaid which have the latest maturity date will be prepaid first. If only
<br />part o~ the Bonds having a common maturity date are called for prepayment
<br />the spe~ific Bonds to be prepaid will be chosen by lot by the Registrar.
<br />Ali. prepaTm~m, ts shall be at a price of par plus accrued interest.
<br />
<br />.qectto~, 2. _Registration and Payment.
<br />
<br /> 2~01. ~gistered Form. The Bonds shall be issued only in fully
<br />registered i~orm. The interest thereon and, upon surrender of each Bond,
<br />the princ[p~,! amount thereof shall be payable by check or draft issued by
<br />the RegJs~:rar described herein.
<br />
<br /> 2,02.. Dates; Interest Payment Dates. Each Bond shall be dated as of
<br />the iast interest payment date preceding the date of authentication to
<br />which interest on the Bond has been paid or made available for payment,
<br />unless l~) the date of authentication is an interest payment date to which
<br />interest ha:; been paid or made available for payment, in which case such
<br />Bond sb~]..i be dated as of the date of authentication, or (ii) the date of
<br />authentJcatJon is prior to the first interest payment date, in which case
<br />such Bored ~hall be dated as of the date of original issue. The interest on
<br />the Boad~ ahall be payable on February 1 and August 1 of each year,
<br />commencing lebruary 1, 1988, to the owner of record thereof as of the close
<br />of b~siness on the fifteenth day of the immediately preceding month,
<br />whethe~ o~? ~ot such day is a business day.
<br />
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