HomeMy Public PortalAboutOrd 096 Amend Ord 95
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ORDINANCE NO. ~
AN ORDINANCE AMENDING ORDINANCE
NO. 95 OF THE CITY OF BEL AIRE
WHICH PREVIOUSLY AUTHORIZED THE
ISSUANCE OF GENERAL OBLIGATION
BONDS OF THE CITY.
WHEREAS, the governing body of the City of Bel Aire has
heretofore adopted Ordinance No. 95 on April 16, 1985, which
Ordinance was published in the official city newspaper on
April 19, 1985, and authorized the issuance of General
Obligation Bonds of the City of Bel Aire, Kansas, Series B,
1985, in the original aggregate principal amount of
$450,000.00: and
WHEREAS, it has been discovered that through a clerical
error Section 2 of said Ordinance No. 95 should be amended.
NOW THEREFORE, BE IT ORDAINED BY THE GOVERNING BODY OF THE
CITY OF BEL AIRE, KANSAS:
SECTION 1. Section 2 of Ordinance No. 95 is hereby
amended to read as follows:
"SECTION 2. The Bonds shall be issued as fully
registered certificated bonds without coupons in
denominations of $5,000.00 or any integral multiple
thereof not exceeding the principal amount of the
Bonds maturing on the respective Payment Dates, and
shall be numbered in such manner as the Bond Registrar
hereinafter designated shall determine. The Bonds
shall be dated as of May 1, 1985 and shall mature on
September 1 (the "Principal Payment Dates") in the
years and in the principal amount and shall bear
interest at the respective rates per annum as follows:
INTEREST
PRINCIPAL RATE MATURITY
AMOUNT PER ANNUM DATE
$30,000.00 10.00% September 1, 1986
30,000.00 10.00% September 1, 1987
30,000.00 10.00% September 1, 1988
30,000.00 10.00% September 1, 1989
30,000.00 10.00% September 1, 1990
30,000.00 10.00% September 1, 1991
30,000.00 9.60% September 1, 1992
30,000.00 9.20% September 1, 1993
30.000.00 9.40% September 1. 1994
30.000.00 9.60% September 1. 1995
30.000.00 9.80% September 1. 1996
30.000.00 10.00% September 1. 1997
30.000.00 10.00% September 1. 1998
30.000.00 10.00% September 1. 1999
30.000.00 10.00% September 1. 2000
The principal of. and premium. if any. on the Bonds
shall be payable in lawful money of the United States
of America at the principal office of the Paying
Agent. hereinafter designated. upon presentation of
the bonds for payment and cancellation. The interest
on the Bonds shall be payable in lawful money of the
United States of America by check or draft of the
Paying Agent. hereinafter designated. by mailing to
the registered owner thereof at the address appearing
on the registration books of the City maintained by
the Bond Registrar or at such other address as if
furnished in writing by such registered owner to the
Bond Register.
Interest on the Bonds shall be payable
semiannually on March 1 and September 1 (the "Interest
Payment Dates") in each year succeeding their date.
commencing March 1. 1986. to the respective owners
thereof appearing on the books maintained by the Bond
Registrar on the 15th day of the month next preceding
each Interest Payment Date (the "Record Dates"). The
Bonds shall bear interest from the Interest Payment
Date immediately preceding their effective
registration dates unless such effective registration
date shall be as of an Interest Payment Date in which
case the Bonds shall bear interest from such Interest
Payment Date or unless the effective registration date
shall be prior to the first Interest Payment Date in
which case the Bonds shall bear interest from May 1.
1985. The effective date of registration shall be set
forth on each such Bond. such effective date of
registration to be the date of authentication thereof
by the Bond Registrar."
SECTION 2. This Ordinance shall be in force and take
effect from and after its passage. approval and pUblication
once in the official city newspaper.
PASSED AND APPROVED by the governing body of the City of
Bel Aire. Kansas. on /'JAY .;1.1 . 1985.
ATTEST:
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