Ordinance 98-39 - Laserfiche WebLink

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or benefit under the Ordinance until the certificate of authentication hereon shall have been signed by an authorized officer of the Registrar, Except in the event of a Oetennination of Taxability and as otherwise provided in the Ordinance, this Bond shall bear interest at the Interest Rate set forth above. Principal of and interest on this Bond shall be payable in equal installments of t15'h919. 02 on each quarterly Payment Date commencing October I, 1998. All previously unpaid principal of the 1998 Bond and all previously accrued and unpaid interest on the 1998 Bond shall be payable on the Maturity Date. The principal of and interest on this Bond shall be secured solely by and payable from the Pledged Revenues (as defined below). "Pledged Revenues" shall mean all moneys on deposit in the Debt Service Fund. (created and established under the Ordinance) derived from the proceeds of the Utilities Tax required to be deposited therein each month in accordance with the provisions of the Ordinance. "Utilities Tax" shall mean the tax imposed by the City on each and every purchase in the City of electricity. Said term shall also apply to all taxes imposed by the City on the purchase of electricity, whether levied in the amounts prescribed by the Utilities Tax Ordinance or in any other amounts and whether imposed either by amendment to the Utilities Tax Ordinance or otherwise. "Utilities Tax Ordinance" shall mean all proceedings imposing the Utilities Tax, including Ordinance No. 97-3 of the City adopted on September 11, 1997, as the same may be amended from time to time, and every supplementary ordinance or other ordinance in lieu thereof as may hereafter be adopted. The City may prepay this Bond in whole or in part, at any time or from time to time, without penalty or premium, by paying to the registered holder all or part of the principal amount of this Bond, together with the unpaid interest accrued on the amount of principal so prepaid to the date of such prepayment. Such accrued and unpaid interest shall be payable on the next succeeding Payment Date. Each prepayment shall be made on such date and in such principal amount as shall be specified by the City in a written notice delivered to the registered owner not less than ten (10) business days prior thereto. Notice having been given as aforesaid, the principal amount stated in such notice or the whole thereof, as the case may be, shall become due and payable on the prepayment date stated in such notice; and the amount of principal shall be paid (i) in case the entire unpaid balance of the principal of this Bond is to be paid, upon presentation and surrender of the Bond to the office of the Paying Agent (designated corporate trust office, if the Paying Agent is not the CitYs Finance Department), and (ii) in case only part of the unpaid balance of principal of this Bond is to be paid, upon presentation of such Bond at the office of the Paying Agent (designated corporate trust office, if the Paying Agent is not the CitYs Finance Department) for notation thereon of the amount of principal then paid or for issuance of a replacement Bond in the principal amount not redeemed. Notwithstanding the provisions of clause (Ii) above, if all of the Bonds are registered in the name of the Bank, a partial prepayment may be effected by payment to the Bank of the principal without surrender of this Bond. u: on the prepayment date, funds for the payment of the principal amount to be prepaid shall have been provided to the Paying Agent, as above provided, then from and after the prepayment date interest on such principal amount of this Bond shall cease to accrue. If said funds shall not have been so paid on the prepayment date with respect to principal and on the next succeeding Payment Date with respect to interest, the principal amount of the Bond shall continue to bear interest until payment thereof. THIS BOND SHALL NOT BE AND SHALL NOT CONSTITUTE AN INDEBTEDNESS