1998-10-19 Resolution 130 - Laserfiche WebLink

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principal amount of the same maturity and interest rate of any authorized denominations. For every exchange or transfer of such Refunding Bonds, the Trustee may make a charge sufficient to reimburse it for any tax, fee or other governmental charge required to be paid with respect to such exchange or transfer which must be paid by the person requesting such exchange or transfer as a condition precedent to the exercise of the privilege of making such exchange or transfer. The Trustee will not be obligated to make any transfer or exchange of any Refunding Bond called for redemption within 30 days of the redemption date. Mutilated, Destroyed, Stolen or Lost Bonds In case any Refunding Bond issued under the Indenture is mutilated or is destroyed, stolen or lost, the Trustee will certify and deliver in exchange for and in place and upon cancellation of the mutilated Refunding Bond, or in lieu of and substitution for the same if destroyed, stolen or lost, a new Refunding Bond of like denomination and tenor, but which, in the discretion of the Trustee, may bear the same or a different serial number, be marked "Duplicate' or be otherwise distinguished. In case of destruction, theft or loss, the applicant for a substituted Refunding Bond must furnish to the Trustee evidence of the destruction of such Refunding Bond so destroyed, which evidence is satisfactory to the Trustee, in their discretion, and said applicant must also furnish indemnity satisfactory to it in its discretion. The Trustee shall have the right to require the payment of the expense of making such replacement prior to the delivery of a new Refunding Bond. Additional Bonds Additional Bonds may be issued on a parity with the Refunding Bonds subject to certain • terms and limitations of the Indenture. Additional Bonds will be limited to amounts which can be repaid, along with the Refunding Bonds, from lease rentals paid by the Commission pursuant to the Lease. THE REFUNDING PROGRAM Pursuant to the terms of an escrow and defeasance agreement dated as of the date of delivery (the "Escrow Agreement") entered into between the Authority and Norwest Bank Indiana, N.A., as Escrow Trustee (the "Escrow Trustee"), the refunding will be accomplished by (a) creating the Trust Account to be held by the Escrow Trustee for the holders of the 1992 Bonds being refunded and (b) depositing therein a sum of initial cash and certain Government Obligations. The funds needed to make the initial cash deposit to the Trust Account and to purchase the Government Obligations will be provided from the proceeds of the sale of the Refunding Bonds. The Government Obligations to be purchased and deposited with the Escrow Trustee will bear interest at such rates and will be scheduled to mature at such times and in such amounts so that, when paid according to their respective terms, sufficient moneys, together with any amounts of cash on deposit with the Escrow Trustee, will be available to make full and timely payment of the principal, premium and interest due with respect to the 1992 Bonds from and after the date of delivery of the Refunding Bonds to and including March 1, 2001 at which Time the 1992 Bonds maturing on or after March 1, 2002 will be called for redemption with all interest due and a 2% redemption premium. -12-