§ 250.429.

AMOUNTS FUNDED OR REFUNDED

Refunding bonds may be issued in a principal amount sufficient to provide for the payment of all of the following:

a.

The principal amount of the bonds to be refunded;

b.

The premium necessary to be paid in calling and retiring the outstanding bonds;

c.

The price in excess of the par value of bonds required to be paid for their purchase in the open market;

d.

Interest accrued, or to accrue, on the bonds to be refunded, to the date of their refunding or to the next interest payment date thereafter when required to be paid;

e.

The costs of financial, legal and other technical services employed to accomplish the refunding;

f.

The costs of printing and advertising, and all other costs of the City incurred or to be incurred in the refunding proceedings; and

g.

Interest on the refunding bonds from their date to the date they are delivered to the former bondholders, in exchange for former bonds.

History

(Added by Ord. 225-81, App. 5/5/81)

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