Resolution 7243 - Laserfiche WebLink

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December Mandatory Redemption Date December 20, 2040 December 20, 2041 2041 Term Bonds Principal Amount $565,000 575,000 December 20 2051 Term Bonds Mandatory Redemption Date Principal Amount December 20, 2047 $650,000 December 20, 2048 665,000 December 20, 2049 680,000 December 20, 2050 695,000 December 20, 2051 * 705,000 *Maturity The principal amount of the Term Bonds required to be redeemed on each mandatory redemption date as set forth above, may be reduced through the earlier optional redemption thereof, with any partial optional redemptions of Bonds of such maturities credited against future mandatory redemption requirements for such Bonds in such order as the City Council shall determine. In addition, on or prior to the 60th day preceding any mandatory redemption date, the Registrar and Paying Agent may, and if directed by the City shall, purchase the Term Bonds in an amount not exceeding the amount of the Bonds of such maturity required to be redeemed on such date and at a price not exceeding the principal amount thereof plus accrued interest. Any Bonds so purchased shall be canceled and the redemption thereof shall be credited against the principal amount of Bonds of such maturity required to be redeemed on the next mandatory redemption date. (b) Optional Redemption. All Bonds maturing on or after December 20, 2031, are subject to redemption and prior payment in whole or in part in such order as the City may determine and by lot within a maturity at the option of the City on December 20, 2030, and any date thereafter at par and accrued interest. All Bonds shall be redeemed at a price of par plus accrued interest to the date of redemption. If redemption is in part, the selection of the amounts and maturities of the Bonds to be redeemed shall be at the discretion of the City. If only part of the Bonds having a common maturity date are called for redemption, then the City or Paying Agent, if any, will notify DTC of the particular amount of such maturity to be redeemed. DTC will determine by lot the amount of each participant's interest in such maturity to be redeemed and each participant will then select by lot the beneficial ownership interest in such maturity to be redeemed. (c) Notice of Redemption. Notice of redemption of Bonds stating their designation, date, maturity, principal amounts and the redemption date shall be given by the Registrar by mailing such notice by first class mail, postage prepaid, not more than 60 days and not less than 30 days prior to the date fixed for redemption (or such shorter period as may be acceptable to the then registered owner of the Bonds) to the registered owners at their most recent addresses appearing upon the books of the Registrar. Failure to give notice to any particular registered owner or any defect in the notice given to such owner shall not affect the validity of the proceedings calling the 0 4854-7635-7637.2