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2003-54 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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2003-54 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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1/28/2016 1:50:17 PM
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1/28/2016 1:50:14 PM
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Resolution/Ordinance
Res Ord Num
2003-54
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $34,000,000 GENERAL OBLIGATION REFUNDING BONDS AND PROVIDING FOR THE LEVY COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST ON SAID BONDS
Approved Date
9/2/2003
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(e) the place where such Bonds are to be sunendered for payment of the <br /> redemption price, which place of payment shall be the principal corporate trust office of <br /> the Paying Agent. <br /> Prior to any redemption date, the City shall deposit with the Paying Agent an amount of <br /> money sufficient to pay the redemption price of a11 the Bonds or portions of Bonds which are to <br /> be redeemed on that date. <br />, Official notice of redemption having been given as aforesaid, the Bonds or portions of <br /> Bonds so to be redeemed shall, on the redemption date, become due and payable at the <br /> redemption price therein specified, and from and after such date (unless the City shall default in <br /> the payment of the redemption price), such Bonds or portions of Bonds shall cease to bear <br /> interest. Neither the failure to mail such redemption notice, nor any defect in any notice so <br /> mailed, to any particular registered owner of a Bond, shall affect the sufficiency of such notice <br /> with respect to other registered owners. Notice having been properly given, failure of a <br /> registered owner of a Bond to receive such notice shall not be deemed to invalidate, limit or <br /> delay the effect of the notice or redemption action described in the notice. Such notice may be <br /> waived in writing by a registered owner of a Bond entitled to receive such notice,either before or <br /> after the event, and such waiver shall be the equivalent of such notice. Waivers of notice by <br /> registered owners shall be filed with the Bond Registraz,but such�ling shall not be a condition <br /> precedent to the validity of any action taken in reliance upon such waiver. <br /> Upon surrender of such Bonds for redemption in accordance with said notice,such Bonds <br /> shall be paid by the Paying Agent at the redemption price. The procedure for the payment of <br /> interest due as part of the redemption price shall be as herein provided for payment of interest <br /> otherwise due. Upon sunender for any partial redemption of any Bond, there sha11 be prepared <br /> -13- <br />
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