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91-58 PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991
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91-58 PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991
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Last modified
8/22/2016 2:16:19 PM
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8/22/2016 2:16:16 PM
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Resolution/Ordinance
Res Ord Num
91-58
Res Ord Title
PROVIDING FOR THE ISSUE OF GENERAL OBLIGATION BONDS, SERIES 1991,...AND FOR THE LEVY AND COLLECTION OF A DIRECTION ANNUAL TAX SUFFICIENT TO PAY THE COMPOUND ACCRETED VALUE OF, PRINCIPAL OF AND INTEREST ON SAID BONDS...
Approved Date
8/19/1991
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. 1 a <br /> 1 <br /> Bond Registrar may require the payment of a sum sufficient to <br /> cover any tax or other governmental charge that may be imposed in <br /> relation thereto. <br /> (d) Redemption. The Capital Appreciation Bonds may be <br /> made subject to mandatory redemption prior to maturity, at the <br /> Compound Accreted Value to the date fixed for redemption, on <br /> October 1 of each of the years and in integral multiples of <br /> $5,000 Compound Accreted Value at maturity as determined pursuant <br /> to Section 9 hereof. Capital Appreciation Bonds are not subject <br /> to optional redemption prior to maturity. <br /> Current Interest Bonds may be made subject to optional <br /> and mandatory redemption prior to maturity at the option of the � <br /> City, in whole or in part, as determined at the time of the sale ��, <br /> and as provided in Section 9 hereof. <br /> The principal amounts of Current Interest Bonds to be <br /> mandatorily redeemed may be reduced through the earlier optional <br /> redemption thereof, with any partial optional redemptions of <br /> Current Interest Bonds credited against future mandatory <br /> redemption requirements in such order thereof as the City may <br /> determine, or if n� such determination is made, in the inverse <br /> order of future mandatory redemption dates. <br /> The Bonds shall be redeemed only in the principal <br /> amount of $5,000 each as to Current Interest Bonds and $5,000 <br /> Compound Accreted Value at maturity as to Capital Appreciation <br /> Bonds, and integral multiples thereof. In the event of the <br /> -14- <br />
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