1990-12-17 Resolution 27 - Laserfiche WebLink

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• in accordance with, and all equally and ratably entitled to the benefits of, and ratably secured by, a Trust Agreement (hereinafter called the "Agreement"), dated as of December 1, 1990, executed by the Authority and Society Bank, Indiana, as Trustee, to which reference is hereby made for a description of the rentals and other income (the "Pledged Funds") pledged as security for the payment of the Bonds and interest thereon and the rights under said Agreement of the Authority, the holders of the Bonds and the Trustee, to all of which the holders hereof, by the acceptance of this Bond, agree. The Authority covenants that one business day prior to February 1 and August 1 in each year, beginning with August 1, 1991, it will pay to the Trustee, prior to the due date, solely out of the Pledged Funds, an 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 August 1, 2001, 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 August 1, 2000, from any monies made available for that purpose, at face value plus accrued interest to the date fixed for redemption together with a premium of two percent (2~) if redeemed on August 1, 2000, or thereafter on or before July 31, 2001; one • percent (1~) if redeemed on August 1, 2001,. or thereafter on or before July 31, 2002, and without premium thereafter; provided notice has been given by first-class mail to the registered owners of all Bonds to be redeemed. 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 Society Bank, Indiana, 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 Society Bank, Indiana, duly endorsed by the owner for the same aggregate principal amount • -9-