Ordinance 99-86 - Laserfiche WebLink

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"Sales Tax" shall mean local government half-cent sales tax imposed by Chapter 82-154, Laws of Florida, as amended, and distributed to the City under Part VI of Chapter 218, Florida Statutes, as amended. "Utilities Tax Ordinance" shall mean all proceedings of the City imposing the Electric Utilities Tax and the Non-electric Utilities Tax, including Ordinance No. 97-3 of the City enacted 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 enacted. The City may prepay this Bond Anticipation Note in whole or in part, at any time or from time to time, without penalty or premium, by paying to the Noteholder all or part of the principal amount of this Bond Anticipation Note, 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 Noteholder 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 Anticipation Note is to be paid, upon presentation and surrender of the Bond Anticipation Note to the office of the Paying Agent (designated corporate trust office, if the Paying Agent is not the City's Finance Department), and (ii) in case only part of the unpaid balance of principal of this Bond Anticipation Note is to be paid, upon presentation of such Bond Anticipation Note at the office of the Paying Agent (designated corporate trust office, if the Paying Agent is not the City's Finance Department) for notation thereon of the amount of principal then paid or for issuance of a replacement Bond Anticipation Note in the principal amount not redeemed. Notwithstanding the provisions of clause (ii) above, a partial prepayment may be effected by payment to the Noteholder of the principal without surrender of this Bond Anticipation Note. If, 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 Anticipation Note 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 Anticipation Note shall continue to bear interest until payment thereof. THIS BOND ANTICIPATION NOTE SHALL NOT BE AND SHALL NOT CONSTITUTE AN INDEBTEDNESS OF THE CITY WITHIN THE MEANING OF ANY CONSTITUTIONAL, STATUTORY, CHARTER OR OTHER LIMITATIONS OF INDEBTEDNESS BUT SHALL BE SECURED SOLELY BY AND PAYABLE FROM THE PLEDGED REVENUES. NO HOLDER OF THIS BOND ANTICIPATION NOTE SHALL EVER HAVE THE RIGHT TO COMPEL THE EXERCISE OF AD VALOREM A-4