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If sufficient funds are on deposit in the Bond Fund, pursuant to the Bond Purchase and Loan <br /> Agreement,the Bonds shall be subject to redemption prior to maturity at the option of the Issuer and at the <br /> direction of the Borrower, on any date,upon 30 days' notice, in whole or in part in such order of maturity <br /> as the Issuer shall direct and by lot within maturities on any date, from any moneys made available for that <br /> purpose, at face value without premium,plus accrued interest to the date fixed for redemption. <br /> The Bonds shall be redeemed upon the occurrence of certain events described in the Bond Purchase <br /> and Loan Agreement, if sufficient funds for such redemption are on deposit with MBI. When called for <br /> redemption as a result of any such event, the Bonds shall be subject to redemption by the Issuer in whole <br /> on any date at a redemption price of 100% of the principal amount of the Bonds being redeemed plus <br /> accrued interest to the redemption date and without premium. <br /> If any of the Bonds are called for redemption as aforesaid,notice thereof identifying the Bonds to <br /> be redeemed will be given by mailing a copy of the redemption notice by first class mail not less than 30 <br /> days nor more than 60 days prior to the date fixed for redemption to the Registered Owner of the Bonds to <br /> be redeemed at the address shown on the registration books; provided, however, that failure to give such <br /> notice by mailing,or any defect therein with respect to any registered Bond, shall not affect the validity of <br /> any proceedings for the redemption of other Bonds. <br /> All Bonds so called for redemption will cease to bear interest on the specified redemption date, <br /> provided funds for their redemption are on deposit at the place of payment at that time,and shall no longer <br /> be protected by the Bond Purchase and Loan Agreement and shall not be deemed to be outstanding under <br /> the provisions of the Bond Purchase and Loan Agreement. <br /> This Bond is transferable by the Registered Owner hereof at the office of the Controller of the <br /> Issuer upon surrender and cancellation of this Bond and on presentation of a duly executed written <br /> instrument of transfer, and thereupon a new Bond or Bonds of the same aggregate principal amount and <br /> maturity and in authorized denominations will be issued to the transferee or transferees in exchange <br /> therefor. <br /> The Bonds, and the interest payable thereon, do not and shall not represent or constitute a <br /> debt of the Issuer within the meaning of the provisions of the constitution or statutes of the State of <br /> Indiana or a pledge of the faith and credit of the Issuer.The Bonds,as to both principal and interest, <br /> are not an obligation or liability of the State of Indiana, or of any political subdivision or taxing <br /> authority thereof,but are a special and limited obligation of the Issuer payable solely and only from <br /> the funds and accounts held under the Bond Purchase and Loan Agreement and payments to be <br /> made on the Note issued under the Bond Purchase and Loan Agreement pledged and assigned for <br /> their payment in accordance with the Bond Purchase and Loan Agreement("Trust Estate").Neither <br /> the faith and credit nor the taxing power of the Issuer,the State of Indiana or any political subdivision <br /> or taxing authority thereof is pledged to the payment of the principal of or premium,if any,or interest <br /> on the Bonds.The Bonds do not grant the owners or holders thereof any right to have the Issuer,the <br /> State of Indiana or its General Assembly,or any political subdivision or taxing authority of the State <br /> of Indiana,levy any taxes or appropriate any funds for the payment of the principal of or premium, <br /> if any, or interest on the Bonds. No covenant or agreement contained in the Bonds or the Bond <br /> Purchase and Loan Agreement shall be deemed to be a covenant or agreement of the Indianapolis <br /> Economic Development Commission (the "Economic Development Commission"), the Issuer or of <br /> any member, director, officer, agent, attorney or employee of the Economic Development <br /> Commission or the Issuer in his or her individual capacity, and neither the Economic Development <br /> Commission, the Issuer nor any member, director, officer, agent, attorney or employee of the <br /> Economic Development Commission or the Issuer executing the Bonds shall be liable personally on <br />