Res55 1894 - Laserfiche WebLink

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1971, or on any interest date thereafter, in inverse numerical order. The bonds subject to call shall be redeemed at the par amount thereof plus a premium equal to one - quarter of one per cent (1/4 of 1 %) of such principal amount for each whole twelve (12) months period and for any remaining fraction of a twelve (12) months' period from the date of such bond, but not to exceed tour per cent (4%) of such principal amount, (except that the maximum premium for bonds maturing in 1933 shall be 3 %) . The City may also, from time to time, purchase any or all of the outstanding bonds at prices offered, but not to exceed the sum required to be paid in the event of redemption by call. All bonds purchased or called shall be cancelled and shall not again be reissued. 12. Registration. The bonds issued hereunder shall be subject to registration as to principal and interest upon written request of theowner and presentation of any such bond to the City Treasurer for registration. Upon such presenta- tion and request, the City Treasurer shall cut off the coupons and preserve them in his office. The City Treasurer shall maintain a book upon which he shall enter the numbers of all registered bonds. Until such registration is cancelled as herein provided, the interest and principal thereof shall be payable only to the registered holder or to his duly register- ed transferee. There shall be provided on the back of each bond a suitable blank showing the name of the registered owner, the date of registration or transfer and the signature of the City Treasurer. Registered bonds shall be transferred at the office of the City Treasurer in the same manner as the original registration and the name of the new registered owner shall be entered on the bond register and on the back of the bonds. The registration of any unmatured bonds may be cancelled upon written request of the registered holder. Upon receipt of such a request, the City Treasurer shall cancel the registration in the bond register book and on the back of the bond re- attach all unmatured coupons to the bond, and deliver the bond and attached coupons to the holder. Until such bond is re- registered, the principal thereof shall be payable to bearer, and the interest shall again be , paid upon surrender of proper coupons. Any such bond is subject to re- registration as to principal and interest in the same manner as previously unregistered bonds. The bonds may be registered as to principal only. Such registration may be cancelled and the bond re- registered as to principal or as to principal and interest. When bonds are registered as to principal only, a notation shall be made to that effect in the registration book and on the bond. The coupons shall not be detached and the interest on such bonds shall be paid upon presentation of such coupons in the same -11-