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(4) Long-term wholesale contracts entered into <br /> prior to the issuance of the proposed bonds which have a <br /> service agreement that extends beyond the final maturity <br /> of the proposed bonds to be issued. <br /> Furthermore, additional parity bonds may be issued <br /> only if, as of the time of issuance of the additional <br /> parity bonds, the balance in the Reserve Account shall be <br /> at least equal to the Reserve Requirement for the 1993 <br /> Bonds and all bonds ranking on a parity therewith, <br /> including the newly issued parity bonds, provided, this <br /> condition shall be deemed satisfied if any required <br /> amount is to be provided from the proceeds of the newly <br /> issued parity bonds or other funds of the City. <br /> (g) Payment Procedure. As long as the Bond <br /> Insurance Policy shall be in full force and effect, the <br /> City and any Paying Agent agree to comply with the <br /> following provisions: <br /> (i) If, on the third day preceding any interest <br /> payment date for the 1993 Bonds, there is not on deposit <br /> with the Registrar sufficient moneys available to pay all <br /> principal of and interest on the 1993 Bonds due on such <br /> date, the Registrar shall immediately notify the Bond <br /> Insurer and Citibank, N.A. , New York, New York or its <br /> successor as its Fiscal Agent (the "Fiscal Agent") of the <br /> amount of such deficiency. If, by said interest payment <br /> date, the City has not provided the amount of such <br /> deficiency, the Registrar shall simultaneously make <br /> available to the Bond Insurer and to the Fiscal Agent the <br /> registration books for the 1993 Bonds maintained by the <br /> Registrar. In addition: <br /> (A) The Registrar shall provide the Bond Insurer with a <br /> list of the bondholders entitled to receive <br /> principal or interest payments from the Bond <br /> Insurer under the terms of the Bond Insurance <br /> Policy and shall make arrangements for the Bond <br /> Insurer and its Fiscal Agent (1) to mail checks or <br /> drafts to bondholders entitled to receive full or <br /> partial interest payments from the Bond Insurer and <br /> (2) to pay principal of the 1993 Bonds surrendered <br /> to the Fiscal Agent by the bondholders entitled to <br /> receive full or partial principal payments from the <br /> Bond Insurer; and <br /> (B) The Registrar shall, at the time it makes the <br /> registration books available to the Bond Insurer <br /> pursuant to (A) above, notify bondholders entitled <br /> to receive the payment of principal of or interest <br /> on the 1993 Bonds from the Bond Insurer (1) as to <br /> the fact of such entitlement, (2) that the Bond <br /> Insurer will remit to them all or part of the <br /> interest payments coming due subject to the terms <br /> of the Bond Insurance Policy, (3) that, except as <br /> provided in paragraph (ii) below, in the event that <br /> any bondholder is entitled to receive full payment <br /> of principal from the Bond Insurer, such bondholder <br /> must tender his 1993 Bond with the instrument of <br /> transfer in the form provided on such 1993 Bond <br /> executed in the name of the Bond Insurer, and (4) <br /> that, except as provided in paragraph (ii) below, <br /> in the event that such bondholder is entitled to <br /> receive partial payment of principal from the Bond <br />