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No. 2026 amending resolution No. 1965-a bond resolution of the SBRC authorizing the issuance of tax increment revenue bonds, series 2003, of the SB redevelopment district as previously amended by resolution No. 2004 and No. 2017
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No. 2026 amending resolution No. 1965-a bond resolution of the SBRC authorizing the issuance of tax increment revenue bonds, series 2003, of the SB redevelopment district as previously amended by resolution No. 2004 and No. 2017
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(toe Authorized Denominations equal to the remaining principal amount. In addition <br />to the foregoing notice, further notice may be given by the Registrar as it deems <br />appropriate by mail, publication or otherwise to registered securities depositories, <br />national information services or others containing the above information and such <br />further information as the Registrar may deem appropriate, but no defect in said <br />further notice, nor any failure to give all or any portion of such further notice shall <br />in any manner defeat the effectiveness of a call for redemption if notice thereof is <br />given as above described. <br />(b) Mandator Sy inking Fund Redemption. At the option of the <br />purchaser for the Bonds, all or a portion of the Bonds may be aggregated into one <br />(1) or more term bonds payable from mandatory sinking fund redemption <br />payments (the "Term Bonds ") required to be made as set forth below. The Term <br />Bonds shall have a stated maturity or maturities on February 1 or August 1 of the <br />years 2005 through and including 2024, or such other years as may be set forth in <br />the Issuer's Certificate or as determined by the successful bidder. <br />In the event that the purchaser opts to aggregate certain Bonds into <br />Term Bonds, such Term Bonds shall be subject to mandatory sinking fund <br />redemption prior to maturity at a redemption price equal to 100% of the principal <br />amount thereof, plus accrued interest to the redemption date, but without <br />premium, on February 1 and August 1 of each year and in the principal amounts <br />corresponding to and consistent with the maturity schedule for the Bonds set forth <br />in the Issuer's Certificate. <br />The Registrar and Paying Agent shall credit against the current <br />mandatory sinking fund requirement for a Term Bond of a particular maturity, <br />any Bonds of such maturity delivered to the Registrar and Paying Agent for <br />cancellation or purchased for cancellation by the Registrar and Paying Agent and <br />canceled by the Registrar and Paying Agent and not theretofore applied as a credit <br />against any mandatory sinking fund requirement. Each Bond so delivered or <br />purchased shall be credited by the Registrar and Paying Agent at 100% of the <br />principal amount thereof against the mandatory sinking fund redemption <br />requirements for the applicable Term Bond in order of mandatory sinking fund <br />redemption (or final maturity) dates determined by the Board, and the principal <br />amount of such Term Bond to be redeemed on such mandatory sinking fund <br />redemption dates by operation of the mandatory sinking fund requirements shall <br />be reduced accordingly; provided, however, the Registrar and Paying Agent shall <br />only credit Bonds against the mandatory sinking fund requirements to the extent <br />such Bonds are received on or before 45 days preceding the applicable mandatory <br />sinking fund redemption date. <br />The Registrar shall determine by lot (treating each $5,000 principal <br />amount of each Bond as a separate Bond for such purpose) the Bonds within a <br />(W Term Bond of a particular maturity to be redeemed pursuant to the mandatory <br />sinking fund redemption requirements on February 1 and August 1 of each year. <br />SBIMANI 167906v1 - % - <br />
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