RES 67055 - Laserfiche WebLink

The Series A Bonds shall bear interest at such rate or rates, not exceeding six per cent (6%') per annum, as may be fixed by the Council at the time of sale of the Series A Bonds, Such interest on the Series A Bonds shall be payable semi- annually on May 1 and November 1 in each year. The interest coupons attached to the Series A Bonds shall be numbered in consecutive numerical order, and each such coupon shall represent six months' interest on the Series A Bond to which it is attached. Both the principal of and interest on the Series A Bonds shall be payable at the principal office of the Fiscal Agent in San Francisco, California, in lawful money of the United States of America, or, at the option of the holder, at the office of the paying Agent in New York, New York, or in Chicago, Illinois. SECTION 2.03. Redemption. (a) Series A Bonds numbered A1 to A34, both inclusive, maturing on or before May 1, 1982, are not subject to redemption prior to their respective maturity dates. Series A Bonds numbered A35 to A80, both inclusive, maturing on May 1, 1993, are subject to redemption prior to their maturity date, at the option of the City, as a whole and not in part, from funds derived from the City from any source, on any interest payment date on or after May 1, 1979, at the principal amount thereof and accrued interest to date of redemp- tion, plus a premium as set forth in the following schedule: Bonds Redeemedin (both yearsinelusive) Premium 1979-1980 ............. 5 % 1981-1982 ............. 4 1983-1984 ............. 3 1985-1986 ............. 2 1987-1988 ............. 1 1989-1990 ............. 1/2 of 1 1991-1993 ............. 0 Series A Bonds numbered A35 to AS0, both i~clusive, matui4ng on May 1, 1993, are also subject to redemption prior to their maturity date, at the option of the City, as a whole, or in part by lot, from the Series A Sinking Fund Account pro- vided for in Section 4.03(2) on any interest payment date on or after May 1, 1979, at the principal amount thereof and accrued interest to date ~of~redemption, plus a premium as set forth in the following schedule: Bonds Redeemed in (both yearsincluslve) Premium 1979-1981 ............. 3 % 1982-1983 ............. 2 1984-1985 ............. 11/2 1986-1987 ............. 1 1988-1989 ............. l/2ofl 1990-1993 ............. 0