ANNUAL MEETING
The Annual Meeting of Council was held on May 13, 1985 at 7:30 p.m. with Mayor Carroll presiding. Members of Council present were Messrs. Richter, Tudor, Boaman, Bulley, Christiansen, Witt, Weyandt and Shevock.
The invocation was given by the Reverend J.H. Williams, Council Chaplain.
ADOPTION OF MINUTES - REGULAR COUNCIL MEETING OF APRIL 22, 1985
The Minutes of the Regular Council Meeting of April 22, 1985 were unanimously approved by motion of Mr. Weyandt, seconded by Mr. Bulley and bore the written approval of Mayor Carroll.
OATH OF OFFICE - COUNCILMEN ELECT
The Honorable Henry duPont Ridgely, Judge of the Superior Court, administered the oath of office to the following Councilmen elect:
Councilman - First District - John E. Richter
Councilman - Second District - Michael J. Ambruso
Councilman - Third District - Charles L. Witt
Councilman - Fourth District - Robin Christiansen
RESOLUTION - COUNCILMAN ROBERT H. TUDOR
Council unanimously adopted the following resolution:
WHEREAS, Robert H. Tudor has served as Councilman from the Second District for the City of Dover from August 10, 1981,to May 13, 1985; and
WHEREAS, during his years as a Councilman, Robert H. Tudor has served on the Utility Committee and the Building, Plumbing, Mechanical and Fire Prevention Code Appeals Committee; and
WHEREAS, Robert H. Tudor has devoted his time and attention to the important functions of the City of Dover and has played an important role in resolving the problems which have been encountered during his years of service; and
WHEREAS, Robert H. Tudor has decided not to seek re-election to Council for which his term expires on May 13, 1985.
NOW, THEREFORE, BE IT RESOLVED BY THE MAYOR AND COUNCIL OF THE CITY OF DOVER IN COUNCIL MET:
1. The Mayor and Council of the City of Dover express their extreme appreciation to Robert H. Tudor for the untiring devotion to his duties as City Councilman.
2. The Mayor and Council of the City of Dover extend their best wishes to Robert H. Tudor in his future endeavors.
3. The Mayor and Council of the City of Dover direct the City Clerk to make this Resolution a part of the permanent records of the City of Dover in expression of their appreciation to Robert H. Tudor.
ADOPTED: May 13, 1985
Mayor Carroll thanked Councilman Tudor for his dedication and the sacrifice of many hours in performing his duties as Councilman of the City of Dover.
Councilman Tudor was also presented with the framed Resolution in his behalf, embossed with the Seal of the City of Dover.
Councilman Tudor expressed his thanks to Mayor and Council for the respect shown to him as an individual during his term of office. He alluded to the many burdens placed upon each individual Councilman and wished them luck in their future endeavors.
MAYOR CRAWFORD J. CARROLL - REMARKS
Mayor Carroll presented the following remarks to members of Council:
In the 1985/86 Fiscal Year we will be faced with some unsolved problems and many new ones. The future of Dover is only as bright and as strong as this Council is able and willing to make it. As the Capital of the First State we have a tremendous obligation to all of the citizens of Dover and to the entire State of Delaware. The strong economy we are now enjoying will continue, but only if every member of Council, together with the support of the citizens of Dover and the support of the news media, work towards a better City.
Having served the citizens of Dover for more than 23 years, I have seen many changes take place. Rapid growth, a strong economy, job opportunity, and low taxes are what every community in this nation would like to have. We have all of these in Dover, Delaware along with beauty and safety. Having them today does not mean that we will have them tomorrow or next year. Unless this Administration continues to move ahead and keep pace with the ever growing needs of Dover, we will lose some of those things we take for granted today. It is the responsibility of the Mayor and Council to see that good legislation is passed, sound policies are set and adequate personnel, equipment and facilities are made available.
In the Fiscal Year 84/85 a great deal was accomplished. We completed the re-evaluation of all properties in the City of Dover making it possible to cut our tax rate in half and be in a better position to re-apportion our four Council representative districts. We issued the first Water and Sewer Revenue Bonds to upgrade our systems. The citizens of Dover approved a Bond Referendum by a seven to one margin to expand the Dover Library. Through the full cooperation of the City employees, we implemented a comprehensive health care cost containment program. The City's general ledger was completely computerized, along with our new tax assessments. New vehicles and equipment were put into use in all Departments of the City. The Puncheon Run Sewer System was completed making it possible for the City to eliminate four old pumping stations. Federal and State approval was received for the Dover Brook Gardens, State College Road, Lafferty Lane, and Whiteoak Road Sewer. A complete inventory of the conditions of all streets was completed and our resurfacing program expanded. We continued the Groundwater Study to ensure Dover of adequate water supply in the future. The City contributed money to help support the hiring of an Economic Director to the Central Delaware Chamber of Commerce, along with financial support to start the community and/or Civic Center Study.
In our Electric Generating and Distribution system much has been accomplished. The right-of-way has been acquired to complete the 69KV loop around Dover. A coal conversion study has been completed and a second evaluation could be approved tonight. Our services and procedures policy manual was completely revised. The fuel adjustment was lowered last September. A new Electric Administration Building is nearly completed. Many sections of the City distribution lines have been converted from 4KV to 12KV, our substations have been upgraded and most important there has been a large decrease in outages.
If we expect to properly and efficiently carry out the $65,000,000 1985/86 Fiscal Year Budget, everyone within the City must work together. We have many projects pending and under consideration. Some of these will be discussed tonight. It is my hope that the Council will authorize a second study on the coal conversion of our Power Plant. The sooner we complete this study, the quicker we will be underway with the project. For us to stay competitive in the industry and within the PJM Pool, we must reduce our fuel adjustment costs. Another project that will be coming up tonight for consideration is the awarding of a contract to update our Comprehensive Plan. This update is very important to the future growth of our City for proper land use and development.
We are well into the contract negotiations with the Police Department. I wish to point out to this Council that it is important that each Councilman take a second look at the wage scale that was implemented for all Departments in the City and make sure the Police Officers are treated equally. The City of Dover has the best trained and most dedicated officers of any municipality within our State. They are entitled to fair and equitable treatment.
There is another area that has been a concern to me for the last three years. It is my feeling that the City of Dover's Finance Director should be appointed by the City Council and should report directly to the Mayor and Council. With the Finance Director under the direction of the City Manager we do not have the safeguards needed for good government.
Members of the City Council have been negotiating with the Members of the Kent County Levy Court trying to come to an agreement for some tax relief within our City. I feel the Levy Court is negotiating in good faith and hopefully a satisfactory conclusion will be reached.
The Charter Study Committee that was appointed is now underway. I am confident that this Committee will explore all avenues for information before submitting any recommendations to the City. It will be up to this Council to accept, reject or modify any and all recommendations. Whatever this Council decides to be the best form of government suited for the City of Dover could take four to five years to implement and it should be a Charter that will carry us well into the twenty-first century.
There are two other projects the City should continue to push for; the Dover By-Pass and a County-wide Paramedic Service.
In closing I wish to thank the City Council, the City Staff and all their employees, along with all the Members of the Committees and Authorities within the City for helping to make the Capital of the First State a better place in which to live.
Thank you,
CRAWFORD J. CARROLL, MAYOR
RECESS
Mayor Carroll called a short recess for photographs of the newly sworn Council members and appointed staff members.
NEWLY ELECTED COUNCILMAN - MICHAEL J. AMBRUSO
Mayor Carroll welcomed Michael J. Ambruso as Councilman of the City of Dover and presented him with a pin embossed with the City Seal.
AGENDA ADDITIONS/DELETIONS
Mr. Witt requested an additional agenda item concerning further consideration of the Finance Director as a Council appointed official.
ELECTION OF OFFICERS - 1985/86
Vice-Mayor
Mr. Boaman moved for the election of Charles L. Witt as Vice-Mayor of the City of Dover. The motion was seconded by Mr. Christiansen.
Hearing no further nominations from the floor, Mayor Carroll declared Charles L. Witt as Vice-Mayor of the City of Dover for the year 1985/86.
City Solicitor and Deputy City Solicitor
Mr. Boaman moved for the appointment of the Honorable Nicholas H. Rodriguez as City Solicitor and the Honorable Douglas Catts as Deputy City Solicitor. The motion was seconded by Mr. Weyandt and carried with Mr. Christiansen voting no on the appointment of the City Solicitor.
Chaplain
Mr. Bulley moved for the appointment of the Reverend J.H. Williams as Council Chaplain for the year 1985/86, seconded by Mr. Christiansen and unanimously carried.
Fire Marshal
Mr. Boaman moved for the appointment of Jack T. Roe as Fire Marshal for the year 1985/86, seconded by Mr. Christiansen and unanimously carried.
City Clerk and Deputy City Clerk
Mr. Boaman moved for the appointment of William H. Willis as City Clerk and Debrah J. Bittner as Deputy City Clerk for the year 1985/86. The motion was seconded by Mr. Weyandt and unanimously carried.
City Treasurer and Deputy City Treasurer
Mr. Boaman moved for the appointment of William H. Willis as City Treasurer and Debrah J. Bittner as Deputy City Treasurer for the year 1985/86. The motion was seconded by Mr. Weyandt and unanimously carried.
City Alderman and Deputy City Alderman
Mr. Boaman moved for the appointment of William H. Willis as City Alderman and Debrah J. Bittner as Deputy City Alderman for the year 1985/86. The motion was seconded by Mr. Weyandt and unanimously carried.
Mr. Boaman moved for approval of the elected officers of the City of Dover for the year 1985/86, seconded by Mr. Shevock and unanimously carried.
PROCLAMATION - SMALL BUSINESS WEEK
Mayor Carroll submitted the following Proclamation:
WHEREAS, the history of America is a history of a nation at work - a nation of farmers, manufacturers and merchants joining together to build a better society, and
WHEREAS, our growing and prosperous nation is built on individual initiative, a competitive spirit and intense pride in our achievements, and
WHEREAS, the enterprising determination to work and to prosper is embodied in the more than 14 million small businesses which provide the technology to keep the economy growing, the manufacturing and marketing skills to keep the nation competitive, and the innovation to guide us into a better future, and
WHEREAS, we all benefit from the contributions of small businesses and those who create them.
NOW, THEREFORE, I, CRAWFORD J. CARROLL, MAYOR OF THE CITY OF DOVER, do hereby proclaim this week of May 5 - 11, 1985 as
SMALL BUSINESS WEEK
in the City of Dover, Delaware, and ask that all in our fair City salute its small business men and women.
PROCLAMATION - ALUMINUM CAN RECYCLING WEEK
Mayor Carroll submitted the following Proclamation:
WHEREAS, Voluntary aluminum can recycling protects the environment, conserves valuable natural resources, saves energy, provides additional income to charities, civic organizations, non-profit groups, and individuals, and increases civic pride, and
WHEREAS, Every day, more and more citizens are helping make our Country a better place in which to live by recycling aluminum cans, and
WHEREAS, Last year alone, Delawareans earned over $1.1 million in recycling aluminum cans.
NOW, THEREFORE, I, CRAWFORD J. CARROLL, MAYOR OF THE CITY OF DOVER, do hereby proclaim the week of May 20-27, 1985 as
ALUMINUM CAN RECYCLING WEEK
in the City of Dover, Delaware, and ask that the citizens of Dover make aluminum recycling a way of life.
COMMITTEE APPOINTMENTS
Building, Plumbing, Mechanical and Fire Prevention Code Appeals Committee
Mayor Carroll appointed Councilman Roger F. Bulley as Chairman of the Building, Plumbing, Mechanical and Fire Prevention Code Appeals Committee and Councilman Michael J. Ambruso and the City Manager as members.
Mr. Witt moved for approval of the appointments, seconded by Mr. Richter and unanimously carried.
Chamber of Commerce and County Government Committee
Mayor Carroll appointed Councilmen Gregory P. Boaman and John E. Richter as members of the Chamber of Commerce and County Government Committee.
Mr. Witt moved for approval of the appointments, seconded by Mr. Bulley and unanimously carried.
Legislative and Finance Committee
Mayor Carroll appointed Councilman Gregory P. Boaman as Chairman of the Legislative and Finance Committee and Councilmen David A. Shevock and Francis R. Weyandt and Mr. Sherman Townsend as members.
Mr. Witt moved for approval of the committee appointments, seconded by Mr. Richter and unanimously carried.
Parks and Recreation Committee
Mayor Carroll appointed Councilman Charles L. Witt as Chairman of the Parks and Recreation Committee with members being Councilmen Francis R. Weyandt and Robin Christiansen and Mr. Fred B. Carey, Sr.
Mr. Richter moved for approval of the appointment , seconded by Mr. Boaman and unanimously carried.
Pension Committee - Civilian Pension Board of Trustees
Mayor Carroll appointed Councilmen David A. Shevock and Roger F. Bulley as members of the Civilian Pension Board of Trustees, serving with the City Manager and elected employee members.
Mr. Witt moved for approval of the appointments, seconded by Mr. Richter and unanimously carried.
Pension Committee - Police Pension Board of Trustees
Mayor Carroll appointed Councilmen David A. Shevock and Roger F. Bulley, the City Manager and Chief Klenoski as members of the Police Pension Board of Trustees, serving with elected employee members.
Mr. Witt moved for approval of the appointments, seconded by Mr. Weyandt and unanimously carried.
Safety Advisory Committee
Mayor Carroll appointed Councilman Charles L. Witt as Chairman of the Safety Advisory Committee, serving with Council members Francis R. Weyandt and Robin Christiansen.
Mr. Richter moved for approval of the appointments, seconded by Mr. Boaman and unanimously carried.
Utility Committee
Mayor Carroll appointed Councilman John E. Richter as Chairman of the Utility Committee with Council member Michael J. Ambruso, Mayor Crawford J. Carroll, and Mr. Irving Levitt.
Mr. Boaman moved for approval of the appointments, seconded by Mr. Weyandt and unanimously carried.
LEGISLATIVE AND FINANCE COMMITTEE REPORT - APRIL 23, 1985
The Legislative and Finance Committee met on April 23, 1985 at 7:30 p.m. with Councilman Shevock presiding.
Discussion - Re-apportionment of Council Districts
As a matter of information, Councilman Shevock informed Council that the re-apportionment of Council districts was discussed and it was found that certain information was lacking, with maps submitted not clearly defining district lines. The City Manager was requested to contact the College of Urban Affairs to more precisely define certain questions that the committee presented.
City Insurance Coverage
Specifications to enable insurance companies to bid on the City's insurance coverage were submitted to the committee for their review. Mr. Shevock stated that the committee did make some changes in the bid documents. The time frame for the solicitation and awarding of bids will begin on June 7th when the bids are due and will be presented during the June Legislative and Finance Committee meeting.
Informational Pamphlet for New City Residents
Based on a suggestion by Mr. Weyandt, the committee suggested that the City Manager look into printing an informational pamphlet for new residents of the City that would contain such items as electric, sewer, and water rates, the tax rate, and other items concerning the various services within the City.
Councilman Christiansen Letter - Council Meetings with Resident Participation/Permitting Scheduled Speakers During Council Sessions/Scheduled Committee Meetings in the Evening
Mr. Shevock reported committee discussions on the above-mentioned items as submitted by Councilman Christiansen.
The committee felt that each Councilman should be given a time period to form their own suggestions on the subject matter which will be further discussed at the next regular Legislative and Finance Committee meeting.
Mr. Richter moved for approval of the Legislative and Finance Committee Report as submitted, seconded by Mr. Witt and unanimously carried.
LEGISLATIVE AND FINANCE COMMITTEE REPORT - MAY 7, 1985
The Legislative and Finance Committee met on May 7, 1985 at 7:30 p.m. with Chairman Boaman presiding.
Council Meetings - Citizen Input - Evening Committee Meetings (Councilman Christiansen)
The committee again reviewed suggestions by Councilman Christiansen that would set aside a period of time at the end of each Council Meeting to allow scheduled citizen input, quarterly or semi-annual meetings of Council that would allow citizens to speak on any subject and a suggestion that all committee meetings be held in the evenings.
Mr. Boaman advised that the committee recommended that ground rules be submitted to the committee by members of Council for the committee's consideration. In addition, the following suggestions were recommended by the committee:
1.Special meetings for citizen input be set for the first Monday during the months of February, May, August, and November.
2.Place a time limit on total length of the meeting.
3.No public hearing items will be permitted on the floor prior to the public hearing.
Mr. Boaman explained that subject matter pertaining to zoning changes could not be permitted on the floor since it would present a legal conflict.
Mr. Boaman urged all Council members to submit any suggestions relative to the ground rules for a public meeting. Hopefully, the committee will be prepared to present a final recommendation to Council at the next regularly scheduled Legislative and Finance Committee meeting.
With the prospect of setting quarterly citizen meetings, the committee felt that scheduled speakers at each Regular Council Meeting should not be permitted other than those who wish to participate in a public hearing.
It was also recommended that each committee chairman be permitted to set times for meetings, noting the difficulty in arranging meeting times that would suit each committee member, with evening meetings being given a priority when feasible.
Audit Proposals
The committee reviewed the weak and strong points of nine (9) proposals submitted by various auditors. Mr. Boaman advised that special consideration was given to local firms and especially those who have had experience with enterprise funds.
The committee recommended the following firms for further consideration:
1. Peat Marwick Mitchell & Co. - Wilmington
2.Deloitte Haskings & Sells - Wilmington
3.Cooper and Lybrandt - Philadelphia
4. Manter, Lafferty & Mitten - Dover
5. Faw Casson & Company - Dover
These firms will be brought before the committee for interviewing and a report will be submitted to Council no later than the end of June with a recommendation from the committee.
Updated Report - Re-apportionment
The committee reviewed maps showing various Council district boundary lines as submitted by the University of Delaware, College of Urban Affairs. During discussion, map #1 was deleted because the committee felt that the population as indicated is too high initially. It was the feeling of the committee that the districts with the potential of the most development should initially contain the lowest population.
At the next Legislative and Finance Committee meeting, maps #2, #3 and #5 will be further considered with the help of overlays on a larger map to be drawn by the Engineering Department.
Mr. Boaman suggested that all Council members attend the next Legislative and Finance Committee meeting to present their suggestions with the hope of finalizing the four district lines.
Library/Sewer/Water General Obligation Bonds
Mr. Boaman advised that the committee has reviewed the General Obligation Bond Resolution related to the Library expansion and sewer and water system improvements and also the notice of sale and a draft of the official statement.
The committee recommended adoption of the bond resolution and approval of the notice of sale and official statement.
Mr. Boaman moved for approval of the notice of sale and draft of official statement and the adoption of the General Obligation Bond Resolution.
By a unanimous roll call vote, Council adopted the following resolution:
THE CITY OF DOVER RESOLVES:
Section 1. The Mayor and Council have approved a project to expand and renovate The City's Public Library at 45 South State Street at an estimated cost of $398,000.
Section 2. On October 22, 1984 the Mayor and Council authorized a Bond Referendum Election and on December 11, 1984 a majority of the voters approved the issuance of $300,000 in General Obligation Bonds to partially fund the above-stated Library Project pursuant to Section 50(d) of Chapter 158, Volume 36, Laws of Delaware, as amended (the "City Charter").
Section 3. The Mayor and Council have authorized improvements to the public storm sewer system through projects known as Bradford/Wyoming/Governors Storm Sewer, Walker Road to Woodcrest Drive Storm Sewer, West Tar Ditch Storm Sewer and Silver Lake Dams Rehabilitate/Resurface (the "Storm Sewer Projects") with an estimated cost of $355,000 to be incurred over the next three years.
Section 4. The Mayor and Council have determined that General Obligation Bonds in the amount of $355,000 should be issued to partially fund the above Storm Sewer Projects pursuant to Section 50(c) of the Charter and that General Obligation Bonds in the amount of $300,000 should be issued to partially fund the Library Project pursuant to Section 50(b) of the Charter (the "Bonds") and have authorized the City officials to proceed with construction of the Projects and the issuance of bonds and to use City funds to be reimbursed out of Bond proceeds and to take all other proper action in furtherance of the purposes set forth in this Resolution.
Section 5. The City shall issue its negotiable bonds in the aggregate principal amount of $655,000 (the "Bonds") pursuant to and in accordance with Section 50 of the City Charter, to finance in whole or in part the cost of the projects and facilities specified in Sections 1, 2 and 3 above to the extend specified therein. The full faith and credit of The City of Dover is pledged to the payment of the Bonds and the interest, and premium, if any, thereon. The Bonds shall be payable in annual installments in each year as follows:
Year Principal Amount Year Principal Amount
1986 $25,000 1994 $45,000
1987 30,000 1995 50,000
1988 35,000 1996 50,000
1989 40,000 1997 50,000
1990 45,000 1998 50,000
1991 45,000 1999 50,000
1992 45,000 2000 50,000
1993 45,000
(2) The Bonds shall be issued as a single consolidated issue of bonds and each of the Bonds shall bear the designation "General Obligation bond, Series 1985". The Bonds shall be in denominations of $5,000 and any integral multiples thereof and shall be numbered consecutively.
(3) All of the Bonds shall be dated June 15, 1985 and shall bear interest from June 15, 1985 at a rate or rates not exceeding a true interest cost of ten and one-half percent (10-1/2%) per annum, when calculated for all of the Bonds in the aggregate. Such interest shall be payable on December 15, 1985 and on each June 15 and December 15 thereafter. True interest ("Canadian") cost shall be determined by doubling the semi-annual interest rate, compounded semi-annually, necessary to discount the debt service payments from the payment dates to the date of the Bonds and to the price bid, excluding interest accrued to the date of delivery.
(4) All of the Bonds shall be registered as to both principal and interest. Both principal of and interest on the Bonds shall be payable at the principal office of the City's Paying Agent, which is currently Wilmington Trust Company in the City of Wilmington, Delaware, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The City shall mail checks for the interest payable no later than the payment date to the registered owner as it appears on the bond register on the fifteenth day prior to payment date.
(5) Each of the Bonds shall contain a recital that it has been authorized and issued pursuant to the terms and conditions of Section 50 of the City Charter. Each of the Bonds shall be signed by the facsimile signature of the Mayor and by the facsimile signature of the Treasurer and shall be authenticated by the manual signature of an authorized officer of the Paying Agent. A facsimile of the official corporate seal of the City shall be imprinted upon each of the Bonds.
( 6) The Bonds maturing on or after June 15, 1996 are subject to redemption at the option of the City prior to maturity as a whole, or in part in inverse order of maturity on any interest payment date on or after June 15, 1995, (if less than all of the Bonds outstanding of a single serial maturity shall be called for redemption, such Bonds to be so redeemed shall be selected by the City by lot) at the redemption prices expressed as percentages of their principal amounts plus accrued interest to the redemption date as set forth in the table below:
Redemption Period (Dates Inclusive) Redemption Price
June 15, 1995 through June 14, 1996 102%
June 15, 1996 through June 14, 1997 101%
June 15, 1997 and thereafter 100%
(7) In the event any of the Bonds are called for redemption pursuant to paragraph (6) above, notice thereof identifying said Bonds to be redeemed shall be given by mailing by first class mail, postage prepaid, to the registered owner or owners thereof at the address shown on the registration books not more than sixty (60) days nor less that thirty (30) days prior to the date fixed for redemption; provided, however, that failure to give such notice by mailing or any defect therein to the registered owner of any said bond designated for redemption shall not affect the validity of the proceedings for the redemption of any other said bond. All of said Bonds so called for redemption will cease to bear interest on the specified redemption date provided funds for their redemption are on deposit at the place of payment at that time.
(8) Each of said Bonds and the provisions for the registration of the Bonds to be endorsed thereon, shall be in substantially the form hereinafter set forth, and the Mayor and the Treasurer of the City are hereby authorized and directed to cause said Bonds to be prepared when they shall have been sold and to execute said Bonds in accordance with their terms:
No. DOLLARS $
UNITED STATES OF AMERICA
STATE OF DELAWARE
THE CITY OF DOVER
GENERAL OBLIGATION BOND, Series 1985
Interest Rate Maturity Date Original Issue Date CUSIP
June 15, 1985
Registered Owner:
Principal Sum: DOLLARS
THE CITY OF DOVER, in the County of Kent (hereinafter referred to as the "City"), a political subdivision of The State of Delaware, for value received, hereby acknowledges itself indebted and promises to pay to the registered owner named above, or registered assigns or legal representative, the principal sum stated above, on the maturity date stated above, upon presentation and surrender hereof, and to pay interest to the registered owner hereof on the applicable record date at the interest rate per annum stated above, payable on December 15, 1985, and semi-annually thereafter on June 15 and December 15, until payment of such principal sum shall have been made. Both principal of and interest on this bond are payable at the principal office of the City's Paying Agent, Wilmington Trust Company, in the City of Wilmington, Delaware, in any coin or currency of the United States of America which at the time of payment is legal tender for the payment of public and private debts. The City shall mail checks to the registered owner for the interest payable no later than the payment date. Payments shall be mailed to the name and address of the Bondholder as it appears on the bond register on the fifteenth day prior to payment date.
Bonds maturing on or after June 15, 1996 are subject to redemption at the option of the City prior to maturity, as a whole or in part in inverse order of maturity on any interest payment date on or after June 15, 1995, (if less than all of said bonds outstanding of a single serial maturity shall be called for redemption, such bonds to be so redeemed shall be selected by the City by lot) at the redemption prices expressed as percentages of their principal amounts plus accrued interest to the redemption date as set forth in the table below:
Redemption Period (Dates Inclusive) Redemption Price