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HomeMy WebLinkAbout1966-12-13; City Council; 1100; Ord 1099 amend - 1966 Library bond issuance0 * ORDINANCE MO.llOO AN ORDINANCE OF THE CITY OF CAXLSBAD, CALIFOiWIA, “DING ORDINANCE NO.1099 OF SAID CITY, ENTITZED “AN ORDINANCE OF Tf-IE: CITY OF CAXLSBAD, CALIFORNIA, PRO- VIDING FOR THE ISSUANCE OF BONDS DESIG- NATED 1966 LIBRARY BONDS OF SAID CITY IN THE AMOUNT OF $295 , 000.00” TrfHEREAS, on November 1, 1966, this City Council introduced Ordinance No. 1099 ”An Ordinance of the City of Carlsbad, California, Pro- ity, entitled viding for the Issuance of Bonds Designated 1966 Library Bonds of said City in the Amount of $295,OOO.OO;” and WHEXEAS, on November 15, 1966, said Ordinance No. 1099 was duly adopted; and WHEREAS, it is necessary to amend Section 9 of said Ordinance No. 1099 ; NOW, THEREFORE, the city C;ouncu vi L,I of Czrlsbad, California, DOES ORDAIN as follows: No. 1099 be and hereby is amended to provide as follows: Section 9. Mhen notice of‘ redemption I! 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 Eiedemption Fund, as provided for I I 0 (I, herein, the bonds designated for redemption shall become due and payable on the date fixed for redemption thereof, and, upon presentation and surrender of said bonds and all interest coupons maturing after the redemption date, at the place specified in the notice of re- demption, and, if any of said bonds be registered, upon the appropriate assignment 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 coupons thereof shall be cancelled forthwith by the City Treasurer and shall not be reissued. All interest coupons pertaining to any I1 redeemed bonds, which coupons have matured on or prior to the time fixed for redemption, shall continue to be payable to the respective holders thereof\but without interest thereon. All un- paid interest payable at or prior to the date fixed for redemption upon registered bonds shall continue to be payable to the respective regis- tered owners of such bonds, or their order, but without interest thereon. It 2.