1998-10-19 Resolution 130 - Laserfiche WebLink

Home Browse Search

• plus accrued interest to the redemption date. Selection of Refunding Bonds to be Redeemed. If less than all of the Refunding Bonds are to be redeemed, then the Refunding Bonds will be redeemed in such order of maturity as selected by the Authority and by lot within maturities. Notice of Redemption; Payment of Redeemed Bonds. Notice of any optional or mandatory sinking fund redemption will be mailed by first class mail by the Trustee not more than 60 days nor less than 30 days prior to the date selected for redemption to the registered owners of all Refunding Bonds to be redeemed at the address shown on the registration books of the Trustee as of the date of mailing; provided, however, that failure to give such notice by mailing or a defect in the notice or the mailing as to the Refunding Bonds will not affect the validity of any proceedings for redemption as to any other Refunding Bonds for which notice is adequately given. Notice having been mailed, the Refunding Bonds designated for redemption will, on the date specified in such notice, become due and payable at the then applicable redemption price. On presentation and surrender of such Refunding Bonds in accordance with such notice at the place at which the same are expressed in such notice to be redeemable, such Refunding Bonds shall be redeemed by the Trustee and any paying agent for that purpose. From and after the date of redemption so designated, unless default is made in the redemption of the Refunding Bonds upon presentation, interest on the Refunding Bonds designated for redemption will cease. Effect of Redemption. If the amount necessary to redeem any Refunding Bonds called for • redemption has been deposited with the Trustee or any paying agent for the account of the registered owner or registered owners of such Refunding Bonds on or before the date specified for such redemption, and if the notice described above has been duly mailed or provision satisfactory to the Trustee has been made for the giving and mailing of such notice, and if all proper charges and expenses of the Trustee in connection with such redemption have been paid or provided for, the Authority will be released from all liability on such Refunding Bonds and such Refunding Bonds will no longer be deemed to be outstanding and interest thereon will cease at the date specified for such redemption. Thereafter, such Refunding Bonds will not be secured by the lien of the Indenture. Registration of Refundin Bg onds The Trustee will keep, at its principal corporate trust office, a record for the registration of all Refunding Bonds issued under the Indenture. Each Refunding Bond is transferable only on such record at the principal corporate trust office of the Trustee, at the written request of the registered owner thereof or his/her attorney duly authorized in writing, upon surrender thereof, together with a written instrument of transfer satisfactory to the Trustee duly executed by the registered owner or his/her duly authorized attorney. The Authority, the Trustee and any paying agent may deem and treat the person in whose name any Refunding Bond is registered as the absolute owner of such Refunding Bond for the purpose of receiving payment of or on account of the principal of said Refunding Bond and for all other purposes whatsoever. Exchange or Transfer of Bonds Registered owners of any Refunding Bonds issued under the Indenture may, upon surrender thereof at the principal corporate trust office of the Trustee with a written instrument of transfer satisfactory to the Trustee, exchange a Refunding Bond or Bonds of equal aggregate -11-