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95-77 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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95-77 PROVIDING FOR THE ISSUANCE OF GENERAL OBLIGATION REFUNDING BONDS
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Last modified
3/24/2016 8:25:05 AM
Creation date
3/24/2016 8:25:02 AM
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Resolution/Ordinance
Res Ord Num
95-77
Res Ord Title
PROVIDING FOR THE ISSUANCE OF NOT TO EXCEED $10,000,000 GENERAL OBLIGATION REFUNDING BONDS, SERIES 1995, AND PROVIDING FOR THE LEVY AND COLLECTION OF A DIRECT ANNUAL TAX FOR THE PAYMENT OF THE PRINCIPAL OF AND INTEREST
Approved Date
12/18/1995
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. <br /> , ` . <br /> If any Bond or portion of a Bond called for redemption shall not be so paid upon <br /> surrender thereof for redemption, the principal shall, until paid or duly provided for, bear <br /> interest from the redemption date at the rate borne by the Bond or portion of Bond so called <br /> for redemption. All Bonds which have been redeemed shall be canceled and destroyed by the <br /> Bond Registrar and shall not be reissued. <br /> In addition to the foregoing notice, further notice shall be given by the Bond Registrar <br /> on behalf of the City as set out below, but no defect in said further notice nor any failure to <br /> give all or any portion of such further notice shall in any manner defeat the effectiveness of <br /> a call for redemption if notice thereof is given as above prescribed. <br /> Each further notice of redemption given hereunder shall contain the information <br /> required above for an official notice of redemption plus (a) the CUSIP numbers of all Bonds <br /> being redeemed; (b) the date of issue of the Bonds as originally issued; (c) the rate of <br /> interest borne by each Bond being redeemed; (d) the maturity date of each Bond being <br /> redeemed; and (e) any other descriptive information needed to identify accurately the Bonds <br /> being redeemed. <br /> Each further notice of redemption shall be sent at least 35 days before the redemption <br /> date by registered or certified mail or overnight delivery service to all registered securities <br /> depositories then in the business of holding substantial amounts of obligations of typeS <br /> comprising the Bonds (such depositories now including Depository Trust Company of New <br /> York, New York, and Depository Trust Company of Philadelphia, Pennsylvania) and to one <br /> or more national information services, chosen in the discretion of the Bond Registrar, that <br /> disseminate notice of redemption of obligations such as the Bonds. <br /> Upon the payment of the redemption price of Bonds being redeemed, each check or <br /> other transfer of funds issued for such purpose shall bear the CUSIP number identifying, by <br /> -12- <br />
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