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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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2001-08 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION LINE OF CREDIT NOTES
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3/2/2016 3:12:44 PM
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3/2/2016 3:12:42 PM
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Resolution/Ordinance
Res Ord Num
2001-08
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $10,000,000 GENERAL OBLIGATION LINE OF CREDIT NOTES TO PAY THE COSTS OF REDEVELOPMENT PROJECTS AND PROVIDING FOR THE SECURITY FOR AND PAYMENT OF SAID NOTES
Approved Date
3/5/2001
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t <br /> � <br /> All notices of redemption shall include the name of the Notes and at least the information <br /> as follows: <br /> (a) the redemption date; <br /> (b) the redemption price; <br /> (c) if less than all of the outstanding Notes of a particular maturity are to be <br /> redeemed, the identification (and, in the case of partial redemption of Notes within such <br /> maturity,the respective principal amounts) of the Notes to be redeemed; <br /> (d) a statement that on the redemption date the redemption price will become ', <br /> due and payable upon each such Note or portion thereof called for redemption and that ', <br /> interest thereon shall cease to accrue from and after said date; and <br /> (e) such Notes are to be surrendered to the City far payment of the redemption <br /> price. <br /> Notice of redemption having been given as aforesaid, the Notes or portions of Notes so to <br /> be redeemed shall, on the redemption date, become due and payable at the redemption price <br /> therein specified, and from and after such date(unless the City shall default in the payment of the <br /> redemption price) such Notes or portions of Notes shall cease to bear interest. <br /> Upon surrender of such Notes for redemption in accordance with said notice, such Notes <br /> shall be paid by the City at the redemption price. The procedure for the payment of interest due <br /> as part of the redemption price shall be as herein provided for payment of interest otherwise due. <br /> Upon surrender for any partial redemption of any Note, there shall be prepared for the Bank a <br /> new Note or Notes of like tenor, of authorized denominations, of the same maturity, and bearing <br /> the same rate of interest in the amount of the unpaid principal. <br /> If any Note or portion of Note called for redemption shall not be so paid upon surrender <br /> thereof for redemption, the principal shall, until paid or duly provided for, bear interest from the <br /> -8- <br />
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