1998-10-19 Resolution 130 - Laserfiche WebLink

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~• • Section 2.09. Registered owners of Bonds may, upon surrender thereof at the principal office of the Trustee with a written instrument of transfer satisfactory to the Trustee, exchange a Bond or Bonds for a Bond or Bonds of equal aggregate principal amount of the same maturity and interest rate of any authorized denominations. For every exchange or transfer of 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 shall 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 cost of preparing each new Bond upon each exchange or transfer, and any other expenses of the Trustee incurred in connection therewith (except any applicable tax, fee or other governmental charge) shall be paid by the Authority. The Trustee shall not be obliged to make any transfer or exchange of any Bond called for redemption within thirty days of the redemption date. Section 2.10. The accrued interest and premium, if any, received from the sale of the Bonds shall be deposited by the Trustee in the Sinking Fund established and created by Section 3.01 hereof. Million Hundred Thousand Hundred and 00/100 Dollars ($ ) of the proceeds received from the sale of such Bonds by the Trustee shall then be applied on behalf of the Authority to the redemption of the outstanding bonds pursuant to an "Escrow Agreement" entered into between the Authority and Norwest Bank Indiana, N.A., as Escrow Trustee, dated as of November 1, 1997. The balance of the proceeds from the sale of the Bonds ($ )and the amount available totaling Thousand • Hundred and /100 Dollars ($ )from the funds established by the Trust Agreement governing the outstanding bonds issued in 1990 shall then be deposited to the credit of the Expense Fund. ARTICLE III. Funds Section 3.01. There is hereby established and created a fund designated as the "South Bend Redevelopment Authority 1998 Sinking Fund." The Trustee shall deposit in such Sinking Fund from each rental payment received by the Trustee pursuant to the Lease, an amount equal to the following whichever is less: (a) All of such rental payment; or (b) An amount which, when added to the amount in the Sinking Fund on the deposit date equals the sum of the following amounts: 1. Unpaid interest on the Bonds due on, before or within eight (8) months after the date such rental payment becomes due; and • :ODMA\PCDOCS\SBDOCS 1\24203\2 -13-