1988-06-17 Resolution 6 - Laserfiche WebLink

Home Browse Search

a amount sufficient to ,pay the principal and all interest as it becomes due until all of the Bonds of this issue shall have been • retired. The Bonds of this issue maturing on or after February 1, 1999, may be redeemed prior to maturity at the option of the Authority in whole or in-part in whole multiples of $5,000, in inverse order of maturities and by lot within maturities, on any date not earlier than February 1, 1998, at-face value and without premium, plus accrued interest to the`date fixed for redemption; provided notice has been given by mail to the registered owners of all Bonds. If this Bond is so called for redemption, and payment is made to the Trustee in accordance with the terms of the Agreement, this Bond shall-cease to bear interest or to be entitled to the lien of the Agreement from and after the date fixed for the redemption in the call. In case an event of default, as defined in the Agreement, occurs, the principal of this. Bond may become or may be declared due and payable prior to the stated maturity hereof, in the manner, and with the effect, and subject to the conditions provided in the Agreement. This Bond is transferable by the registered owner hereof at the principal office of First Interstate Bank of Northern Indiana, N.A., upon surrender and cancellation of this Bond and on presentation of a duly executed written instrument of transfer and thereupon a new Bond or Bonds of the same aggregate principal amount and maturity and in authorized denominations will be issued to the transferee or transferees in exchange therefor. This Bond may be exchanged upon surrender hereof at the principal office of First Interstate Bank of Northern Indiana, N.A., duly endorsed by the owner for the same aggregate principal amount of Bonds of the same maturity in authorized denominations as the owner may request. The Authority and the Trustee may deem and treat the person in whose name this Bond is registered as the .absolute owner hereof. This Bond shall not be a valid obligation until duly authenticated by the Trustee, or its successors in trust, by the execution of the certificate endorsed hereon., (Front of Bond) IN WITNESS WHEREOF, the SOUTH BEND REDEVELOPMENT AUTHORITY has caused this Bond to be executed in its name and on its behalf by the facsimile signature of the President of its -8-