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14-20 Cedar Glen Bond Ordinance Addendums
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14-20 Cedar Glen Bond Ordinance Addendums
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3/18/2020 2:57:42 PM
Creation date
3/18/2020 2:55:23 PM
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City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
3/23/2020
Bill Number
14-20
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(g) Remarketing Expenses. The Borrower shall be responsible for paying all <br /> Remarketing Expenses incurred in connection with the remarketing of the Bonds from sources <br /> other than the Trust Estate. <br /> (h) Failure to Give Notice. Neither failure to give or receive any notice described in <br /> this Section 4.03, nor the lack of timeliness of such notice or any defect in any notice (or in its <br /> content) shall affect the validity or sufficiency of any action required or provided for in this <br /> Section 4.03. <br /> Section 4.04. Redemption and Cancellation of Bonds. <br /> The Bonds shall be redeemed in whole at a redemption price of 100% of the principal <br /> amount of such Bonds, plus accrued interest to the Mandatory Tender Date, on any Mandatory <br /> Tender Date upon the occurrence of any of the following events: (i) the Borrower has previously <br /> elected not to cause the remarketing of the Bonds, (ii) the conditions to remarketing set forth in <br /> Section 4.03(b) or Section 4.03(d) hereof have not been met by the dates and times set forth <br /> therein, or (iii) the proceeds of a remarketing on deposit in the Remarketing Proceeds Account at <br /> 11:00 a.m. on the Mandatory Tender Date are insufficient to pay the purchase price of the <br /> Outstanding Bonds on such Mandatory Tender Date. Bonds subject to redemption in accordance <br /> with this paragraph shall be redeemed from (i) amounts on deposit in the Assignment Fund, (ii) <br /> amounts on deposit in the Bond Fund, (iii) amounts on deposit in the Project Fund, and (iv) any <br /> other Available Money made available for such purpose at the direction of the Borrower. <br /> The Trustee shall immediately cancel Bonds if the tender price of the Bonds is paid from <br /> amounts other than proceeds derived from the remarketing of the Bonds. <br /> (End of Article IV) <br /> -29 - <br />
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