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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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(c) if less than all of the outstanding Bonds of a particular maturity are to be <br /> redeemed, the identification (and, in the case of partial redemption of Bonds within such <br /> maturity, the respective principal amounts) of the Bonds to be redeemed; <br /> (d) a statement that on the redemption date the redemption price will become due <br /> and payable upon each such Bond or portion thereof called for redemption and that interest <br /> thereon shall cease to accrue from and after said date; <br /> (e) the place where such Bonds are to be surrendered for payment of the <br /> redemption price, which place of payment shall be the principal corporate trust office of <br /> the Paying Agent; and <br /> (f) such other information then required by custom,practice or industry standard. <br /> Unless moneys sufficient to pay the redemption price of the Bonds to be redeemed at the <br /> option of the City shall have been received by the Paying Agent prior to the giving of such notice <br /> of redemption, such notice may, at the option of the City, state that said redemption shall be <br /> conditional upon the receipt of such moneys by the Paying Agent on or prior to the date fixed for <br /> redemption. If such moneys are not received, such notice shall be of no force and effect,the City <br /> shall not redeem such Bonds, and the Bond Registrar shall give notice, in the same manner in <br /> which the notice of redemption shall have been given, that such moneys were not so received and <br /> that such Bonds will not be redeemed. Otherwise, prior to any redemption date, the City shall <br /> deposit with the Paying Agent an amount of money sufficient to pay the redemption price of all <br /> the Bonds or portions of Bonds which are to be redeemed on that date. <br /> Subject to the provisions for a conditional redemption described above, notice of <br /> redemption having been given as aforesaid, the Bonds or portions of Bonds so to be redeemed <br /> shall, on the redemption date, become due and payable at the redemption price therein specified, <br /> and from and after such date (unless the City shall default in the payment of the redemption price) <br /> such Bonds or portions of Bonds shall cease to bear interest. Upon surrender of such Bonds for <br /> -11- <br />
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