Resolution 2691 - Laserfiche WebLink

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• The good faith check of the successful bidder shall be applied as provided in the Official Notice of Bond Sale pending delivery of and payment for the Bonds . 2 2 . The Bonds shall be in the aggregate principal amount, of $2, 300, 000, shall be dated September 16, 1989 , shall be issued in denominations of $5, 000 or any integral multiple thereof not exceeding the principal amount of Bonds maturing in �any year, shall be numbered from R-1 upwards in order of issuance or such other order as the Bond Registrar shall determine and shall bear interest at the rates set forth above, payable August 1, 1990 and semiannually thereafter on August 1 and February 1 of each year, and shall mature serially on February 1 in the years and amounts as follows : Year mo n Year Amo n 1993 $175, 000 1998 $225, 000 1994 $175, 000 1999 $250, 000 1995 $200, 000 2000 $275, 000 , 1996 � $200, 000 2001 $275, 000 1997 $225, 000 2002 $300, 000 • All Bonds maturing on or after February 1, 1997 are subject to redemption in whole or in part at the option of the City in inverse order of maturity and by lot within a maturity on February 1, 1996 and any interest payment date thereafter at par and accrued interest . In the event of redemption by lot of. Bonds of like maturity, the Bond Registrar shall assign to each Bond of such maturity then outstanding a distinctive number for each $5, 000 o.f the principal amount of such Bonds and shall select by lot in the manner it determines the order of numbers, at $5, 000 for each number, for all outstanding Bonds of like maturity. The order of selection of Bonds to be redeemed shall be the Bonds to which were assigned numbers so selected, but only so much of the principal amount of each Bond of a denomination of more than $5, 000 shall be redeemed as shall equal $5, 000 for each number assigned to it and so selected. 2 . 03 . The Bonds shall be payable as to principal upon presentation at the main office of American National Bank & Trust Company in St. Paul , Minnesota as Registrar and Paying Agent, or at the offices of such other successor agents as the City may hereafter designate upon 60 days mailed notice to the registered owners at their registered addresses . Interest _ shall be paid by check or draft of the Registrar mailed to the registered owners at their addresses shown on the registration books . The City shall deposit immediately available funds with the Bond Registrar sufficient for the payment of principal and • interest when due. The reasonable charges of said bank for its -3-