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1991-11-15 Resolution 46
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1991-11-15 Resolution 46
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7/18/2008 3:28:09 PM
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described in clause (i) above based upon the market value of <br />such obligations on the day such agreement becomes effective, <br />• in which the Trustee has a perfected security interest. <br />(o) "Redemption price," with respect to the Bonds <br />outstanding under this Agreement, .means the price at which the <br />Bonds are redeemable as set forth in Article IV of this <br />Agreement. <br />(p) "Sinking Fund" means the Sinking-Fund created and <br />established by Section 3.01. <br />(q) "Trustee" means and includes not only the Trustee <br />but also its successor or successors in trust. <br />(r) Unless the context shall clearly otherwise indicate, <br />words importing the singular number shall include the plural <br />number in each case, and vice versa, and words importing <br />persons shall include firms and corporations, and terms <br />employed in the disjunctive form shall be .deemed to be <br />employed also in the conjunctive form-and vice versa. <br />ARTICLE II. <br />Maturities, Form, Issuance, <br />Deliveryand Registration of Bonds <br />• Sec. 2.01. The principal amount of all Bonds which. may be <br />issued and outstanding under this A greement shall be Four Million <br />Two Hundred Eighty Thousand Dollars ($4,280,000) face value. The <br />- <br />:Bonds shall be originally dated as of the first day of-the month <br />in which they are to be originally delivered, shall be issued in <br />the denomination of Five Thousand Dollars ($5,000) each, or any <br />integral multiple thereof and shall be numbered consecutively. <br />The Bonds shall mature serially on March 1 and S eptember 1 on <br />- -- the-dates -and in the amounts.-and bear interest at the rates as <br />follows: <br /> Interest Interest <br />Date Amount Rate Date Amount Rate <br />03/01 /92 395,000 4.9 °i6 03/01 /95 390,000 6.500,6 <br />09/01 /92 340,000 5.2 °~ 09/01 /95 405,000 6.7 % <br />03/01 /93 350,000 5.55% 03/01 /96 415,000 6.9 % <br />09/01 /93 360,000 5.85°~6 09/01 /9fi 430,000 7.10% <br />.03/01 /94 370,000 6.05% 03/01 /97 445,000 7.25% <br />09/01 /94 380,000 6.30°~ <br />• -5- <br />
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