739 - Laserfiche WebLink

Home Browse Search

VAW land for any unpaid sewer charge, even though the use of the Sewer System is by a tenant or lessee instead of the owner, and pursuant thereto, the City Council has directed that suit will be brought to enforce the lien and collect unpaid sewer charges. The bonds will be subject to redemption prior to maturity, in whole or in part, at the option of the City, in inverse numerical order, at a price of par and accrued interest, as follows: (1) From the unexpended proceeds of the sale of the bonds not needed for accomplishing the refunding and the cost to the City of the construction work on any interest payment date; (2) From surplus revenues derived from the operation of the Sewer System on any interest payment date; and (3) From funds from any other source on any interest payment date on and after February 1, 1972. Notice of the call for redemption shall be published one time in a news- paper published in the City of Little Rock, Arkansas, and having a general circulation throughout the State of Arkansas, giving the number and maturity of each bond being called, the publication to be at least fifteen (15) days prior to the redemption date and after the date fixed for redemption each bond so called shall cease to bear interest, providing funds for its payment are on deposit with the Paying Agent at that time. In addition, notice shall be given by first class mail to the registered owner of any bond registered as to principal at the address of such owner reflected on the books of the Bond Registrar and if all outstanding bonds shall be registered as to principal, then notice by first class mail to the registered owners thereof as aforesaid shall be sufficient and it shall not be necessary to publish notice of the redemption. This bond may be registered as to principal alone and may be discharged from such registration in the manner, with the effect and subject to the terms and conditions endorsed hereon. Subject to the provisions of registration endorsed