No. 2012 authorizing issuance of bonds for purpose of providing funds for refunding outstanding bonds and financing redevelopment projects in SBCAA (No. 1A) and paying incidental expenses in connection therewith and on account of issuance of bonds

Home Browse Search

Bonds shall be found at any time, and shall be entitled to all the benefits of this resolution, equally and proportionately with any and all other 2003 Bonds of such series issued hereunder. Section 3. Terms of Redemption. The bonds of this issue maturing on or after February 1, 2014 are redeemable at the option of the Commission on August 1, 2013 or any date thereafter, on thirty (30) days' notice, in whole or in part, in any order of maturities selected by the Commission and by lot within a maturity, at 100% of face value plus accrued interest to the date fixed for redemption, without premium or penalty. Each $5,000 in principal amount shall be considered a separate bond for purposes of partial redemption. In the alternative, and in the event the 2003 Bonds are sold to the Indiana Bond Bank in accordance with Section 7, the terms of redemption of the 2003 Bonds shall be in accordance with the QE Purchase Agreement (as defined in Section 7 hereof). Notice of redemption shall be mailed by first -class mail to the address of each registered owner as shown on the Registration Record not more than forty -five (45) days and not less than thirty (30) days prior to the date fixed for redemption except to the extent such redemption notice is waived by owners of 2003 Bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any 2003 Bond shall not affect the validity of any proceedings for the redemption of any other 2003 Bonds. The notice shall specify the date and place of redemption, the redemption price and the CUSIP numbers of the JC 2003 Bonds called for redemption. The place of redemption may be determined by the Commission. Interest on the 2003 Bonds so called for redemption shall cease on the redemption date fixed in such notice if sufficient funds are available at the place of redemption to pay the redemption price on the date so named, and thereafter, such 2003 Bonds shall no longer be protected by this resolution and shall not be deemed to be outstanding hereunder, and the holders thereof shall have the right only to receive the redemption price. All 2003 Bonds which have been redeemed shall be cancelled and shall not be reissued; provided, however, that one or more new registered bonds shall be issued for the unredeemed portion of any 2003 Bond without charge to the holder thereof. On or prior to the date fixed for redemption, funds shall be deposited with the Paying Agent or another paying agent to pay, and such agent is hereby authorized and directed to apply such funds to the payment of, the 2003 Bonds or portions thereof called for redemption, including accrued interest thereon to the redemption date. No payment shall be made upon any 2003 Bond or portion thereof called for redemption until such bond shall have been delivered for payment or cancellation or the Registrar shall have received the items required by this resolution with respect to any mutilated, lost, stolen or destroyed bond. Section 4. Appointment of Registrar and Paying Agent. The Commission, with the advice of the Commission's financial advisor may appoint a financial institution qualified to do such business in Indiana, or, in the alternative, may appoint the Fiscal Officer to serve as Registrar and Paying Agent (together with any successor, the "Registrar" or "Paving Agent"). The Registrar is hereby charged with the responsibility of authenticating the 2003 Bonds, and ILshall keep and maintain the Registration Record at its office. The Commission is hereby -5-