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such manner as the Issuer, in its discretion, may determine, the Bonds or portions of Bonds within such <br /> maturity that shall be redeemed. The Issuer shall call for redemption in accordance with the foregoing <br /> provisions as many Bonds or portions thereof as will, as nearly as practicable, exhaust the moneys <br /> available therefor. Particular Bonds or portions thereof shall be redeemed only in amounts such that the <br /> Bonds remaining outstanding thereafter will be in the minimum principal amount of$100,000 and any$1 <br /> integral multiples in excess thereof. <br /> If less than the entire principal amount of any registered Bond then outstanding is called for <br /> optional redemption pursuant to Section 5.1,then,upon notice of redemption given as provided in Section <br /> 5.2 hereof, the owner of such registered Bond shall forthwith surrender such Bond to the Paying Agent in <br /> exchange for(a)payment of the redemption price and accrued interest on the principal amount called for <br /> redemption and (b) a new Bond or Bonds of like series in an aggregate principal amount equal to the <br /> unredeemed balance of the principal amount of such registered Bond, which shall be issued without <br /> charge therefor. The books and records of MBI shall be determinative of the amounts so redeemed. <br /> ARTICLE VI. <br /> GENERAL COVENANTS <br /> Section 6.1 Payment of Principal and Interest. The Issuer covenants that it will promptly pay <br /> the principal of and premium, if any,and interest on every Bond issued under this Agreement at the place, <br /> on the dates and in the manner provided herein and in the Bonds according to the true intent and meaning <br /> thereof. The principal of and interest and premium, if any, on the Bonds are payable solely and only from <br /> the Trust Estate, consisting of funds and accounts held under this Agreement and the payments to be <br /> made on the Note which payments are hereby specifically pledged and assigned to the payment thereof in <br /> the manner and to the extent herein specified, and nothing in the Bonds or in this Agreement should be <br /> considered as pledging any other funds or assets of the Issuer. The Bonds, and the interest payable <br /> thereon, do not and shall not represent or constitute a debt of the Issuer within the meaning of the <br /> provisions of the constitution or statutes of the State of Indiana or a pledge of the faith and credit of <br /> the Issuer. The Bonds, as to both principal and interest, are not an obligation or liability of the <br /> State of Indiana, or of any political subdivision or taxing authority thereof, but are a special and <br /> limited obligation of the Issuer and are payable solely and only from the Trust Estate, consisting of <br /> funds and accounts held under this Agreement and payments to be made on the Note issued under <br /> this Agreement pledged and assigned for their payment in accordance with this Agreement. Neither <br /> the faith and credit nor the taxing power of the Issuer, the State of Indiana or any political <br /> subdivision or taxing authority thereof is pledged to the payment of the principal of or premium, if <br /> any, or interest on the Bonds. The Bonds do not grant the owners or holders thereof any right to <br /> have the Issuer,the State of Indiana or its General Assembly, or any political subdivision or taxing <br /> authority of the State of Indiana, levy any taxes or appropriate any funds for the payment of the <br /> principal of or premium, if any, or interest on the Bonds. The Issuer has no taxing power with <br /> respect to the Bonds. No covenant or agreement contained in the Bonds or this Agreement shall be <br /> deemed to be a covenant or agreement of the Issuer or of any member, director, officer, agent, <br /> attorney or employee of the Issuer in his or her individual capacity, and neither the Issuer nor any <br /> member, director, officer, agent, attorney or employee of the Issuer executing the Bonds shall be <br /> liable personally on the Bonds or be subject to any personal liability or accountability by reason of <br /> the issuance of the Bonds. <br /> Section 6.2 Performance of Covenants. The Issuer covenants that it will faithfully perform at <br /> all times any and all covenants, undertakings, stipulations and provisions contained in this Agreement, in <br /> any and every Bond executed, authenticated and delivered hereunder and in all proceedings of its <br /> members pertaining thereto. The Issuer represents that it is duly authorized under the constitution and <br /> laws of the State of Indiana to issue the Bonds authorized hereby and to execute this Agreement, and to <br /> Page 23 <br />