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HomeMy WebLinkAbout1965-08-17; City Council; 1092; 1962 Sewer bonds series C issuanceI shall bear interest qC a rake by resolution, but payable an Said bands and Che interest Angeles, California to be impressed, in- The CITY OF CARLSBAD situated in the County of San Diego alifornla, FOR VALUE RECE%.VED, hemby es its indebtedness and promises to pay to the bearer hereof the swn o DO" ($1,000 ) on the firs Jul;y , 19 , with in rate of per cent ( $) per annum, inter- est For the first year payable at the end of said year and interest thereafter payable semiannually OM the first days of July and January of each and every year from the da%e hereof untll ond is pald, on presentation and surrender of spective interest coupons hereto abtachede rincipal and interest are payable in lawfa of the United States of America a$ the office Clty Treasurer of the City of Carlsbad California, in safd city, or, at the option of the lder hereof, at the paying agent of the city in s Angeles, Calffornia, Chi New York, New York, Th3.s bond is issued by under and in pursuance of and. in conformity with the provisions of Article 1, Chapter 4$ Dfvfsion Tit1.e 4 of the Government @ode of the State 09" Calffornia, and acts supplementary thereto, and fm suanee of the laws and Constituthm of California, and is authorized by a vot two-thSrds of all the quPff9ed voters of said City Of Carlsbad voting at 8x1 electfon? duly lly called, held and eanducted 3.m said city day of January, 1962, IT IS HEREBY CERTIFIED, RECITED AND DECURED that all acts, condfttlons and thfngs requf~ed by law to exist, happen and be perfarmed precedent to and in the issuance of this bond have ex3, happened and been performed in due %ime, for said city, does not exceed mer as required by lawg and that the amount of Ps bond, together with al ther indebtedness of debt limit prescribed s 01" Constitution of the State or California. tantially the roll z 0 6 I. 4/64-1 [TO BE INSERTED ON FACE OF BOND] Unless this bond matures on or prior to July 1, 1983 rnaturtty in accordance with the provisions for redemption endorsed hereon, it is redeemable prior to [REVERSE OF COUPON] 24: the bond attached is eenxible and 2s called for redemption on a date. prior to the maturity date of this couponJ this coupon will be which this coupon is [REVERSE OF BOND] PROVISIONS FOR REDEMPTION Unless this bond matures on or prior to manner and s and with the No. dopted by the Cit Council o said city on T at the op of said City Council on July 1, 1975 or on any interest payment date thereafter prior to maturity, upon at least thirty (30) days' prior notice in a financial newspaper or journal of national circulation, published in the City and State of New York, at a redemp- tion price equal to the principal amount hereofJ plus interest to the date of redemption plu premium equal to one-quarter of one per cen the principal amount for each year or portio thereof remaining from the date of redemption to the maturity date of the bonds but not to exceed four per cent of said principal amount. July 1, 1983 it is redeemable in the Ject to the terms and Provisions, ffect, set forth in 0mm"e 9. 0 -. 4/64-2 Section 6 . The bonds maturi July 1, 1983, demption prior to maturity. July 1, 1984, maturity and redeemed at the option of the City Council of said city on July 1, 1975 date thereafter prior to maturity for each redeemable bond equal to the principal amount thereof, plus interest to the date of redemption plus a premium equ to one-quarter of pal amount the date of redemption to the maturity date of the bonds, but not to exceed four per cent of said principal amount. _I shall not be subject to call o The bonds maturing on or after or any of them, may be called or on any interest payment rice at a redemp All or any of the bonds subject to for redemption at any one time. If are redeemed at any one time, redeemed only in inverse order of beginning with the highest numbere payment date on which bonds which presented for rede the "redemption date. called are to be It Section 7 Notice of the intended redemption shall he published by one (1) publication in a fi newspaper or journal of national cisculatio published 1 0 -1 4/64 in the City and State of Ne at least thirty (30) days but not more than sixty (60) York, said publication to be days prior to the redemption date. The notice of redemp- tion shall (a) state the redemption date; (b) state the redemption price; (e) state he numbers and dates of maturity of the bonds to be redeemed; provided, however, that whenever any call includes all of the bonds of a matur- ity, the numbers of such maturity need not be stated; (d) require that such bonds be surrendered with all interest coupons maturing subsequent to the redemption date at the office of the City Treasurer of the City of Carlsbad, Cali- fornia, or, at the option of the holder thereof, at the paying agent o:f the city In Los Angeles, California, Chicago, Illinois, or Zn New York, New York; (e) require that bonds which at the time of call are registered so as to be payable other than to bearer shall be accompanied by appropriabe instruments of assignment duly executed in blank; and (f ) give notice that further interest; on such bonds will not accrue after the designated redemption date, If any of the bonds esignated for redemption shall be registered so as to be payable otherwise than to bearer, the City Treasurer shall, the publication of said noti notice, postage prepaid, to the respective registered owners thereof at the addresses appearing on the bond registry books, The actual receipt by the holder of any bond (herein- after referred to as "bondholder") of notice of such redemption 11 e shall not be a condition precedent to'redemption, and shall not be a condition precedent to'redemption, and failure to receive such notice shall not affect the validity of the proceedings for the redemption of such bonds or the cessation of interest on the date fixed for redemption. The notice or notices required by this section shall be given by the City Treasurer. City Treasurer that notice of call and redemption has been given to holders of registered bonds as herein provided shall be conclusive as against all parties, and no bondholder whose registered bond is called for redemption may object thereto or object to the cessation of interest on the redemption date A certificate by said fixed by any claim or showing that he failed to actually re- ceive such notice of call and redemption. Section 8. Prior to the time the City Council determines to call and redeem any of said bonds there shall be established in the treasury of said city a Redemption Fund to be described or known as a962 SEWER BONDS, SERIES C, RB- 11 DEMPTION FUND (hereinafter sometimes referred to as Redemption Fundi"), and prior to the publication of the notice of a redemption there must be set aside in said Redemption Fund moneys avail- able for the purpose and sufficient to redeem, at the premiums payable as in this resolution in such notice of redemption. the bonds designated Said moneys must be set aside in said f'und solely for that purpose and shall be applied on or after the redemption date to payment (principal and prenaiwn) for the bonds to be redeemed upon presentation and surrender of such bonds and all interest coupons maturing after the re- demption date, and shall be used only for that purpose. interest coupons due on or prior to the redemption date shall Any 12 . 4/64 0 e be paid from the Interest and Redemption Fund provided for herein upon presentation and surrender thereof. presented must have attached all interest coupons maturin after all of the bonds have been redeemed and cancelled or paid and cancelled there are moneys remaining in said Redemption Fund, said moneys shall be transferred to the general fund of said city; provided, however, that if said moneys are part of the proceeds of refunding bonds, said moneys shall be transferred to the fund created for the payment of principal of and interest on such refunding bonds, Each bond Section9 When notice of redemption has been given, substantially as provided for herein, and when the amount necessary for the redemption of the bonds called for redemption. (principal and premium) is set aside for that purpose in the Redemption Fund, as provided for herein, the bonds designated for redemption shall become due and payable on the date fixed for redemption thereof, and upon presenta- tion and surrender of said bonds and all interest coupons maturing after the redemption date, at the place specified In the notice of redemption and, if any of said bonds be reg- istered, upon the appropriate assignmen% thereof in blank, such bonds shall be redeemed and paid at said redemption price out of the Redemption Fund, and no interest will accrue on such bonds called for redemption or on any interest coupons thereof after the redemption date specified in such notice, and the holders of said bonds so called for redemption after such redemption date shall look for the payment of such bonds and the premium thereon only to said Redemption Fund, All bonds redeemed and all interest c cancelled forthwith by the City Treasurer and shall not be re is sued. All interest coupons pertaining to any redeemed bonds, which coupons have matured on or prior to the time Fixed f’or redemption, shall continue to be payable to the respective holders thereof but without interest thereon. All unpaid interest payable at or prior to the date fixed for redemption upon bonds registered in such manner that the interest is payable only to the registered owners shall continue to be payable to the respective registered owners of such.bonds, or their order, but without interest thereon. 14 . bh .I 'e Section 10 That any of 8 nds may be regisw tered ei,th,er a8 to principal on& and interest, and $he form of registration of any regiatered 'bond may be changed or any registered bond may be discharged from registration, in the manner and with the effect; set forth In the pro isions for registxation form of bond set forth herein. or a% to both principal Section 11 , That the ty Clerk shall certify to the passage and adoptfon of the8 ordlneence by a vote of at beast two-t the City Council s of a11 the membe shall cause this CARLSBAD JOURNAL a newspaper of general clrculat%on in said Section 12 , This ordinance shall take effect thirty (30) days after its adoption, AMIPTED, STONED AND APPRO is 17th day of Auqust 9 19 ,65 California. ATTEST: @=4 5.