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Effect of redemption; payment.

Wilmington City Code § 2-452
in effect
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Sec. 2-452. - Effect of redemption; payment. Notice of redemption having been given in the manner provided in section 2-451 or irrevocable instructions to give such notice having been delivered to the fiscal agent to pay said bonds or portions thereof, and funds having been deposited in trust with the fiscal agent prior to the date fixed for redemption, such bonds shall become due and payable on the redemption date so designated, and interest on such bonds or portions thereof shall cease from such redemption date, whether such bonds be presented for redemption or not, and the coupons representing the interest on any of such bonds thereafter to accrue shall from that date be void and of no effect. The principal amount of all bonds or portions thereof so called for redemption, together with the premium, if any, and accrued interest thereon, shall be paid by the fiscal agent, upon presentation and surrender thereof in negotiable form, accompanied by coupons, if any, representing such interest. All coupons maturing subsequent to the date of redemption must accompany each bond so redeemed. (Code 1968, § 30-103)
Source: City of Wilmington, Delaware, City Code, City Charter and Related Laws (Municode Library, library.municode.com)URL: https://library.municode.com/de/wilmington/codes/code_of_ordinances?nodeId=PTIIWICO_CH2AD_ARTVIFI_DIV7GEOBBO_S2-452EFREPAFetched: 11/6/2026

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2-452 | Corpus