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63-178
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63-178
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Last modified
4/28/2015 2:06:44 PM
Creation date
6/26/2003 10:27:33 AM
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Template:
City Clerk
Doc Type
Resolution
Doc #
63-178
Date
11/18/1963
Document Relationships
94-009
(Amended By)
Path:
\Resolutions\CITY COUNCIL\1952 - 1999\1994
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REDEMPTION DATES AND PREMIUMS <br /> <br />On or After And Prior to On or After And Prior to <br />July ! July ! Premium July 1 July I Premium <br /> <br />1974 1975 4% 1980 1981 1¼% <br />i975 1976 3~ 1981 1982 1 <br />1976 1977 3 1982 1983 3~ <br />1977 1978 2~ 1983 1984 ~ <br />1978 1979 2 1984 1985 ~ <br />1979 1980 1~ 1985 Maturity ~0~ <br /> <br />All or any of the bonds subject to call may be called for redemption at any one time. If less than <br />ali of the bonds are redeemed at any one time, such bonds shall be redeemed only by lot. The inter- <br />est payment date on which bonds are to be presented for redemption is hereinafter sometimes <br />called the "redemption date." <br /> <br /> (a) Notice of Redemption. Notice of the intended redemption shall be published by one inser- <br />tion in a newspaper of general circulation in the County of Orange, California, and in a financial <br />newspaper or journal of national circulation published in the City of New York, New York, said <br />publications to be at least 30 days but not more than 60 days prior to the redemption date. The <br />notice of redemption shall (a) state the redemption date; (b) state the redemption price; (c) state <br />the numbers and date of maturity of the bonds to be redeemed, provided, however, that whenever <br />any call includes all of the outstanding bonds subject to call the numbers of the bonds need not be <br />stated; (d) require that such bonds be surrendered with all interest coupons maturing subsequent <br />to the redemption date (except that no coupons need be surrendered on bonds registered as to <br />both principal and interest) at the office of the Director of Finance of the City of Santa Ana, in <br />said city, or, at the option of the holder, at any paying agent of the district in Los Angeles or San <br />Francisco, California, Chicago, Illinois, or in New York, New York; (e) require that bonds which <br />at the time of call are registered so as to be payable otherwise than to bearer shall be accompanied <br />by appropriate instruments of assignment duly executed in blank; and (f) give notice that further <br />interest on such bonds will not accrue after the designated redemption date. <br /> <br /> The Director of Finance shall, on or before the date of publication of said notice of redemption, <br />mail a similar notice, postage prepaid to any person, firm or corporation that originally purchased <br />bonds from the city. <br /> <br /> If any of the bonds designated for redemption shall be registered so as to be payable otherwise <br />than to bearer, the Director of Finance shall, on or before the date of publication of said notice <br />of redemption, mail a similar notice, postage prepaid, to the respective registered owners thereof <br />at the addresses appearing on the bond registry books. <br /> <br /> The actual receipt by the holder of any bond (hereinafter referred to as "bondholder") of <br />notice of such redemption shall not be a condition precedent to redemption, and failure to receive <br />such notice shall not affect the validity of the proceedings for the redemption of such bonds or the <br />cessation of interest on the date fixed for redemption. The notice or notices required by this section <br />shall be given by the Director of Finance. A certificate by the Director of Finance that notice of <br />call and redemption has been given to original purchasers and to holders of registered bonds as <br />herein provided shall be conclusive as against ali parties, and no bondholder whose bond or <br />registered bond is called for redemption may object thereto or object to the cessation of interest <br />on the redemption date fixed by any claim or showing that he failed to actually receive such notice <br />of call and redemption. <br /> <br /> (b) Redemption. Prior to the redemption date there must be set aside in the Retirement Fund <br />moneys for the purpose and sufficient to redeem, at the premiums payable as in this resolution pro- <br /> <br /> <br />
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