Laserfiche WebLink
Section 4. Bond Details. For the purpose of providing for such costs, there shall be <br /> issued and sold the Bonds,in one or more series and comprised of Refunding Bonds and/or Project <br /> Bonds as may be specified in the Bond Notification or Bond Notifications, in the aggregate <br /> principal amount of not to exceed $36,800,000. The Bonds shall each be designated "General <br /> Obligation Bond, Series 2024" or such other name or names or series designation as may be <br /> appropriate and as stated in the Bond Notification. The Bonds, if issued, shall be dated such date <br /> (not prior to April 15, 2024, and not later than October 31, 2024) (the "Dated Date") as set forth <br /> in the Bond Notification, and shall also bear the date of authentication, shall be in fully registered <br /> form, shall be in denominations of$5,000 each or authorized integral multiples thereof, unless <br /> otherwise provided in the Bond Notification (but no single Bond shall represent installments of <br /> principal maturing on more than one date), and shall be numbered 1 and upward. The Bonds shall <br /> become due and payable serially or be subject to mandatory redemption (subject to prior <br /> redemption as hereinafter described) as shall be set forth in the Bond Notification, and in such <br /> principal amounts as shall be set forth therein;provided, however, that the final maturity shall be <br /> due on or before March 1, 2035, and any annual installment of principal or sinking fund payment <br /> shall not exceed $4,250,000. Each Bond shall bear interest, at a rate not to exceed 5.50% per <br /> annum,from the later of its Dated Date as herein provided or from the most recent interest payment <br /> date to which interest has been paid or duly provided for,until the principal amount of such Bond <br /> is paid or duly provided for, such interest (computed upon the basis of a 360-day year of twelve <br /> 30-day months) being payable on March 1 and September 1 of each year, commencing on <br /> September 1, 2024, or as provided in the Bond Notification. <br /> Interest on each Bond shall be paid by check or draft of the Paying Agent, payable upon <br /> presentation thereof in lawful money of the United States of America,to the person in whose name <br /> such Bond is registered at the close of business on the applicable record date(the "Record Date <br /> -8- <br />