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2022-05 Ordinance Providing for the Issuance of not to Exceed $26,100,000 General Obligation Bonds, to Finance Water and Sewer Infrastructure Improvements, to Robert Baird & Co. Incorporated
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2022-05 Ordinance Providing for the Issuance of not to Exceed $26,100,000 General Obligation Bonds, to Finance Water and Sewer Infrastructure Improvements, to Robert Baird & Co. Incorporated
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Last modified
1/24/2023 5:03:06 PM
Creation date
2/24/2022 9:29:49 AM
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Resolution/Ordinance
Res Ord Num
2022-05
Res Ord Title
2022-05 Ordinance Providing for the Issuance of not to Exceed $26,100,000 General Obligation Bonds, Series 2022, of the City of Decatur, Water and Sewer and Authorizing the Sale of said Bonds to Robert W. Baird & Co. Incorporated
Department
Finance
Approved Date
2/22/2022
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redemption. For optional redemptions,the City shall, at least 45 days prior to the redemption date <br /> (unless a shorter time period shall be satisfactory to the Bond Registrar),notify the Bond Registrar <br /> for the Bonds of such redemption date and of the maturities and principal amounts of Bonds to be <br /> redeemed. In the event of an optional redemption of less than all of a given maturity of Term <br /> Bonds,the City shall also notify the Bond Registrar of the allocation of the amount to be redeemed <br /> to the mandatory redemption requirements for such Term Bonds. For purposes of any redemption <br /> of less than all of the Bonds of a single maturity, the particular Bonds or portions of Bonds to be <br /> redeemed shall be selected by lot not more than 60 days prior to the redemption date by the Bond <br /> Registrar for the Bonds of such maturity by such method of lottery as the Bond Registrar shall <br /> deem fair and appropriate;provided, however, that such lottery shall provide for the selection for <br /> redemption of Bonds or portions thereof so that any$5,000 Bond or$5,000 portion of a Bond shall <br /> be as likely to be called for redemption as any other such $5,000 Bond or$5,000 portion. <br /> The Bond Registrar shall promptly notify the City and the Paying Agent in writing of the <br /> Bonds or portions of Bonds selected for redemption and, in the case of any Bond selected for <br /> partial redemption, the principal amount thereof to be redeemed. <br /> Unless waived by the registered owner of Bonds to be redeemed,official notice of any such <br /> redemption shall be given by the Bond Registrar on behalf of the City by mailing the redemption <br /> notice by first class mail not less than 30 days and not more than 60 days prior to the date fixed <br /> for redemption to each registered owner of the Bond or Bonds to be redeemed at the address shown <br /> on the Bond Register or at such other address as is furnished in writing by such registered owner <br /> to the Bond Registrar. <br /> All official notices of redemption shall include the full name of the Bonds to be redeemed <br /> and at least the information as follows: <br /> (a) the redemption date; <br /> (b) the redemption price; <br /> -10- <br />
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