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1985-036
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1985-036
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4b <br />• <br />00 <br />being indemnified as aforesaid, and if such Bond be lost, stolen <br />or destroyed, without surrender thereof. <br />Any such duplicate Bonds issued pursuant to this section <br />shall constitute original additional, contractual obligations on <br />the part of the County whether or not the lost, stolen or <br />destroyed Bonds be at any time found by anyone, and such dupli- <br />cate Bonds shall be entitled to equal and proportionate benefits <br />and rights as to lien on and source and security for payment from <br />the funds, as hereinafter pledged, to the sa.ie extent as all <br />other Bonds issued hereunder. <br />SECTION 11. PROVISIONS FOR REDEMPTION. Except as pro- <br />vided below, the Bonds are not subject to redemption prior to <br />their first interest payment date. on July 1, 1986, and on each <br />January 1 and July 1 thereafter, after providing for the payment <br />of interest on the Bonds on the next annual interest payment date <br />and the amortization installments specified below, the County <br />shall, from money on deposit in the Improvement Fund, redeem <br />Bonds or portions thereof as are selected by lot, at a price of <br />par and accrued interest to the redemption date, to the extent <br />necessary to exhaust the Improvement Fund as nearly as may be <br />practicable. <br />Principal amounts of the Bonds or portions thereof, to <br />be selected by lot, which shall be equal to the following man- <br />datory amortization installments: <br />YEARS AMOUNTS <br />1987 $516,500 <br />1988 516,500 <br />1989 516,500 <br />1990 516,500 <br />1991 516,500 <br />1992 516,500 <br />1993 516,500 <br />1994 516,500 <br />1995 516,500 <br />1996 516,500 <br />shall be redeemed on January 1 prior to their maturity (except <br />the installment maturing in the year 1996) at the price of the <br />principal amount thereof, plus accrued interest, or be purchased <br />-10- <br />
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