My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1993
>
8448-93 Authorizing City of South Bend Economic Development Revenue Refunding Bonds (First Bank Center Project) $8,030,384.77
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/21/2013 4:22:24 PM
Creation date
10/1/2012 2:09:23 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/13/1993
Ord-Res Number
8443-93
Bill Number
108-93
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
76
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
exactly corresponds to such Weighted Average Life to Maturity, yields for the two <br />published maturities most closely corresponding to such Weighted Average Life to <br />Maturity shall be calculated pursuant to the Telerate Service or the Statistical Release, <br />as the case may be, and the Reinvestment Rate shall be interpolated from such yields <br />on a straight -line basis, rounding in each of such relevant periods to the nearest <br />month. For the purposes of calculating the Reinvestment Rate, the most recent <br />Statistical Release published prior to the date of determination of the Make -Whole <br />Amount shall be used if required by the first sentence. of the definition of <br />Reinvestment Rate. <br />"Statistical Release shall mean the then most recently published statistical <br />release designated "H.15(519)" any successor publication which is published weekly by <br />the Federal Reserve System and which establishes yields on actively traded U.S. <br />Government Securities adjusted to constant maturities or, if such statistical release is <br />not published at the time of any determination hereunder, then such other reasonably <br />comparable index which shall be designated by the holders of 66 -2/3% in aggregate <br />principal amount of the outstanding Bonds. <br />"Weighted Average Life to Maturity" of the principal amount of the Bonds or, <br />as the case may be, the Taxable Note being prepaid shall mean, as of the time of any <br />determination thereof, the number of years obtained by dividing the then Remaining <br />Dollar -Years of such principal by the aggregate amount of such principal. The term <br />"Remaining Dollar - Years" of such principal shall mean the amount obtained by <br />(1) multiplying (i) the remainder of (A) the amount of principal that would have <br />become due on each scheduled payment date if such prepayment had not been made, <br />less (B) the amount of principal on the Bonds scheduled to become due on such date <br />after giving effect to such prepayment and the application thereof in accordance with <br />the maturities stated on the face of the Bonds or, as the case may be, the Taxable Note, <br />if any, by (ii) the number of years (calculated to the nearest one - twelfth) which will <br />elapse between the date of determination and such scheduled payment date, and (2) <br />totalling the products obtained in (1). <br />"Mortgage" means the Mortgage, Assignment of Rents and Security Agreement dated <br />as of November 15, 1993 from the Borrower to the Trustee, constituting a first lien on and <br />security interest in the Project, for the equal and ratable benefit of the holders of the Bonds <br />and the holder of the Taxable Note. <br />"NBD" means National Bank of Detroit, a national banking association. <br />"Note" means the Note referred to in Section 4.2 of the Loan Agreement and pledged <br />hereunder, in the principal amount of $8,030,384.77, to be executed and delivered by the <br />Borrower to the Issuer concurrently with the sale and delivery by the Issuer of the Bonds. <br />"Ordinary Services" and "Ordinary Expenses" mean those services normally rendered <br />and those expenses normally incurred by a trustee under instruments similar to this <br />Indenture. <br />-11- <br />
The URL can be used to link to this page
Your browser does not support the video tag.