Finance Highlights 2011 0909 - Laserfiche WebLink

Home

Banker, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Designated Investment Banker by such Reference Treasury Dealer at 3:30 P.M., New York City time, on the third Business Day preceding such redemption date. date. "Valuation Date" means the fifth Business Day preceding the redemption The Bonds maturing on or after [June 1], 20_ are also subject to redemption at the option of the City prior to their respective maturity dates in whole or in part (and if in part, to be selected as described in subsection (d) below), on any Business Day on or after [June 1], 20_, at a redemption price equal to 100 %,of the principal amount of the Bonds to be redeemed, plus accrued but unpaid interest to the date fixed for redemption, without premium. The City shall give the Trustee written notice of its intention to redeem Bonds under this subsection (a), and the manner of selecting such Bonds for redemption from among the maturities thereof and the amount of the redemption premium thereon, at least forty -five (45) days prior to the date set for redemption to enable the Trustee to give notice of such redemption in accordance with subsection (c) of this Section.] (b) Mandatory Sinking Fund Redemption The Term Bonds are subject to mandatory redemption, within a maturity on a pro rata basis among the Beneficial Owners of the Term Bonds of such maturity, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, in the aggregate respective principal amounts and on [June 11 in the respective years as set forth in the following table. Sinking Fund Redemption Date Principal Amount June 1 To Be Redeemed (c) Notice of Redemption The Trustee on behalf and at the expense of the City will mail (by first class mail) notice of any redemption to the respective Owners of Bonds designated for redemption at their respective addresses appearing on the Registration Books, to the Securities Depositories and the Municipal Securities Rulemaking Board, at least thirty (30) but not more than sixty (60) days prior to the date fixed for redemption; provided, however, that neither failure to receive any such notice so mailed nor any defect therein will affect the validity of the proceedings for the redemption of such Bonds or the cessation of the accrual of interest thereon. Such notice must state the date of the notice, the redemption date, the redemption place and the redemption price and must designate the CUSIP numbers, the Bond numbers and the maturity or maturities (in the event of redemption of all of the Bonds of such maturity or maturities in whole) of the Bonds to be redeemed, and must require that such Bonds be then surrendered at the Office of the Trustee identified in such notice for redemption is