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1988-06-17 Resolution 6
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1988-06-17 Resolution 6
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7/17/2008 11:35:33 AM
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cause a notice signed by the Trustee to be published once in The <br />Daily Bond Buyer, the City of New York, New York or, if The Daily <br />• Bond Buyer is not published, then in a newspaper or financial <br />journal published and of general circulation in the City of <br />New York, New York, or the City of Chicago, Illinois, setting <br />forth (a) the date designated for the redemption of the Bonds, <br />(b) a description of the obligations so held by it, and (c) that <br />this Agreement has been released in accordance with the <br />provisions of this Section. <br />All. moneys, and obligations and time certificates of <br />deposit held by the Trustee pursuant to this Section shall be <br />held in trust and said moneys and the principal and interest of <br />said obligations and time certificates of deposit when received, <br />applied to the payment, when due, of the principal and the <br />interest and the premium, if any, of the Bonds so called for <br />redemption. <br />Sec. 8.02. Any Bond not presented at the proper time <br />and place for payment shall, within the meaning of this <br />Agreement, be deemed to be fully paid when due if the money <br />necessary to discharge the principal amount thereof and all <br />interest then accrued and unpaid thereon (and the premium <br />required in case of redemption before maturity) is held by the <br />Trustee when or before the same become due. The holder. of any <br />such Bond shall not be entitled to any interest thereon after the <br />maturity thereof nor to any interest upon money so held by the <br />Trustee. <br />`. <br />ARTICLE IX. <br />Concerning the Trustee <br />Seca 9.-01. The Trustee hereby accepts the trusts of <br />this Agreement upon the following terms and conditions, to which <br />the parties and the registered holders of said Bonds agree: <br />(a) After completion of construction of the <br />garage, the Trustee shall annually prepare a financial <br />report covering disbursements and receipts of all funds <br />of the Authority held by the Trustee hereunder and <br />shall furnish a copy to the Authority. <br />(b) The Trustee shall be under no obligation to <br />see to any filing or recording of this Agreement or any <br />agreement supplemental hereto, and may authenticate and <br />deliver the Bonds in accordance with the provisions <br />hereof prior to any filing or recording of this <br />Agreement. <br />(c) The Trustee shall be entitled to reasonable <br />compensation for all services rendered in the execution <br />of the trusts hereby created, and may employ agents, <br />• attorneys and counsel in the execution of such trusts; <br />and the compensation of the Trustee, as well as the <br />-34- <br />
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