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1990-12-17 Resolution 26
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1990-12-17 Resolution 26
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7/17/2008 2:02:19 PM
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• 2000; two percent (2~) if redeemed on August 1, 2000, or thereafter <br />on or before July 31, 2001; one percent (1~) if redeemed on <br />August 1, 2001, or thereafter on or before July 1, 2002; and <br />without premium thereafter. <br />Sec. 4.02. To evidence its intention to exercise the right <br />of redemption, the Authority shall, not less .than forty-five (45) <br />days prior to the date selected for redemption, file with the <br />Trustee written notice of its intention to redeem, designating the <br />date fixed for redemption, and if less than all of the outstanding <br />Bonds are to be redeemed stating the aggregate principal amount of <br />Bonds which the Authority desires to redeem. If less than all of <br />the outstanding Bonds are to be redeemed, then the Bonds shall be <br />redeemed in inverse order of maturity and by lot (in such manner <br />as the Trustee shall determine) within maturities. No defect in <br />such notice by the Authority to the Trustee shall affect the <br />validity of the redemption of any Bonds. <br />Sec. 4.03. Official notice of such redemption shall be <br />sent first-class mail by the Trustee to the registered owners of <br />all Bonds to be redeemed, not less than thirty (30) days prior to <br />the date fixed for redemption. Said official notice shall be dated <br />and shall, with substantial accuracy: <br />(a) Designate the date and places of redemption, said places <br />to be the offices of the Trustee; <br />• (b) If the Bonds to be redeemed are less than the whole <br />amount outstanding., designate the Bonds (or portions thereof) to <br />be redeemed; and <br />(c) State that on the designated .date fixed for said <br />redemption said Bonds shall be redeemed by the payment of the <br />applicable redemption price hereinbefore set forth, and that from <br />and after the date so fixed for such redemption interest on the <br />Bonds so called for redemption shall cease. <br />In all cases, the cost and expenses of the preparation and <br />mailing of said official notices of redemption shall be paid by the <br />Authority. <br />In addition to the foregoing notice, further notice may be <br />given by the Trustee as it deems appropriate by mail, publication <br />or otherwise to registered securities depositories, national <br />information services or others containing the above information and <br />such further information as the Trustee may deem appropriate, but <br />no defect in said further notice, nor any failure to give all or <br />any portion of such further notice shall in any manner defeat the <br />effectiveness of a call for redemption if notice thereof is given <br />as above described. <br />• -17- <br />
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