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2001-04-16 Resolution 145
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2001-04-16 Resolution 145
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7/16/2008 4:02:54 PM
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• Section 4. At the option of the Underwriter of the Bonds, the Bonds may be <br />aggregated into one (1) or more term bonds payable from mandatory sinking fund redemption <br />payments (the "Term Bonds") as provided in the Trust Agreement. The Term Bonds shall have a <br />stated maturity or maturities on February 1 or August 1 as set forth in the Bond Purchase Agreement. <br />Such Term Bonds shall be subject to mandatory sinking fund .redemption prior to maturity at a <br />redemption price equal to 100% of the principal amount thereof, plus accrued interest to the <br />redemption date, but without premium, on February 1 or August 1 in the years and in the principal <br />amounts set forth in the maturity schedule for the Bonds contained in the Bond Purchase Agreement. <br />Section 5. Said Bonds shall be issued in accordance with and shall be secured by a <br />trust agreement substantially in the form of the Trust Agreement as submitted to this meeting, with <br />such changes as the President or Vice-President and the Secretary-Treasurer of the Authority deem <br />necessary or appropriate to effectuate these resolutions and to consummate the sale of the Bonds, <br />said officers' execution and attestation thereof to be conclusive evidence of their approval of such <br />changes. <br />Section 6. The Authority shall enter into the Escrow Agreement substantially in the <br />form of the Escrow Agreement submitted to this meeting, in order to effect the advance refunding <br />of the Refunded Bonds in accordance with their terms. The Authority hereby authorizes the <br />President orVice-President and Secretary-Treasurer to execute and attest, respectively, the Escrow <br />Agreement substantially in the form of the Escrow Agreement as submitted to this meeting, with <br />such changes as maybe approved by the President or Vice-President and Secretary-Treasurer with <br />such approval to be conclusively evidenced by such authorized execution and attestation of the <br />Escrow Agreement. <br />• <br />-4- <br />::ODMA\MI30DMA\SBIMAN1;91771; ] <br />
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