1998-10-19 Resolution 130 - Laserfiche WebLink

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• Notwithstanding the foregoing, the rights artcl obligations of the Authority and of the registered owners of the Bonds, and the terms and provisions of the Bonds and the Trust Agreement, or any supplemental agreement, may be modified or altered in any respect with the consent of the Authority and the consent of the registered owners of all the Bonds then outstanding. Defeasance If, when the Bonds or a portion thereof have become due and payable in accordance with their terms or have been duly called for redemption or irrevocable instructions to call such Bonds for redemption have been given by the Authority to the Trustee, and the whole amount of the principal. and the interest and premium, if any, so due and payable upon all of such Bonds then outstanding are paid or (i) sufficient money, or (ii) noncallable obligations of, or unconditionally guaranteed by, the United States of America, the principal of and the interest on which when due, without reinvestment, will provide sufficient money, or (iii) a combination thereof, are held for such purpose under the provisions of the Trust Agreement, and provision is also made for paying all Trustee's fees and expenses and other sums payable under the Trust Agreement by the Authority, such Bonds shall no longer be deemed to be outstanding under the Trust Agreement. In the event the foregoing applies to all Bonds secured by the Trust Agreement, the right, title and interest of the Trustee will thereupon cease, determine and become void. • Upon any such termination of the Trustee's title, on demand of the Authority, the Trustee shall turn over to the Authority or to such officer, board or body as may then be entitled by law to receive the same, any surplus in the Sinking Fund, the Reserve Fund, and in the Operation and Reserve Fund and all balances remaining in any other funds or accounts, other than moneys and obligations held for the redemption or payment of Bonds. •