Res65 4809 - Laserfiche WebLink

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REDEMPTION: Bonds of each issue maturing by their terms on or prior to January 15, 1986, shall not be subject to call or redemp- tion prior to their fixed maturity dates. Bonds of each issue maturing by their terms on and after January 15, 1987, shall be subject to call and redemption at the option of the Council, as a whole, or in part in inverse numerical order from higher to lower, on January 15, 1986 (but not prior thereto), and on any interest payment date thereafter prior to their fixed maturity date or dates at the principal amount thereof and accrued interest thereon to date of redemption, together with a premium of 1/4 of 1% of such principal amount for each whole year and for any remaining fraction of a year from the date fixed for redemption to the fixed maturity date of the bonds so called for redemption. PAYMENT: Both principal and interest are payable in lawful money of the United States of America at the office of the Treasurer of the City, in Redwood City, San Mateo County, California, or, at the option of the holder, at the San Francisco Main Office of Bank of America National Trust and Savings Association in San Francisco, California, the principal office of Chemical Bank New York Trust Co., in New York, New York, or The First National Bank of Chicago in Chicago, Illinois. EXECUTION: The bonds will be coupon bonds executed by the manual signature of at least one official authorized to execute the bonds. REGISTRATION: The bonds are registrable only as to both -. principal and interest. After being regis- tered a bond may be transferred only by registration in the name of the new owner. Registered bonds are convertible into coupon bonds at the owner's expense. - PURPOSE OF The Drainage Bonds, Water Bonds, and Sewer ISSUE: Bonds are authorized by a majority vote of the qualified voters voting at special bond elections in the respective districts for the purpose of author- izing bonds for, respectively, drainage system improvements for Redwood City General Improvement District No. 1 -65, water system improvements for Redwood City General Improvement District No. 2 -65, and sewer system improvements for Redwood City General Improvement District No. 3 -65. -17-