1992-04-30 Resolution 52 - Laserfiche WebLink

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Sec. 4.02. To evidence its intention to exercise the right of redemption, the Authority shall, not less than forty-five (45) days prior to the date selected for redemption, file with the Trustee written notice of its intention to redeem, designating the date fixed for redemption, and if less than all of the outstanding Bonds are to be redeemed stating the aggregate principal amount of Bonds which the Authority desires to redeem.. If less than all of the outstanding Bonds are to be redeemed, then the Bonds shall be redeemed in inverse order of maturity and by lot within maturities, and the Authority shall notify the Trustee in writing of the Bonds to be redeemed. No failure or defect in such notice by the Authority to the Trustee shall affect the validity of the redemption of any Bonds. Sec. 4.03. Official notice of such redemption shall be mailed by the Trustee to the registered owners of all Bonds to be redeemed, not less than thirty (30) days prior to the date fixed for redemption. Said official notice shall be dated and shall, with substantial accuracy: (a) Designate the date and places of redemption, said places to be the offices of the Trustee; (b) if the Bonds to be redeemed are less than the whole amount outstanding, designate the Bonds (or portions thereof) to be redeemed; and (c) state that on the designated date fixed for said redemption said Bonds shall be redeemed by the payment of the applicable redemption price hereinbefore set forth, and that from and after the date so fixed for such redemption interest on the Bonds so called for redemption shall cease. In all cases, the cost and expenses of the preparation and mailing of said official notices of redemption shall be paid by the Authority. In addition to the foregoing notice, further notice may be given by the Trustee as it deems appropriate by mail, publication or otherwise to registered securities depositories, national information services or others containing the above information and such further information as the Trustee may deem appropriate, but no defect in said further notice, nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above described. Sec. 4.04. Such notice having been mailed as above provided, the Bonds designated for redemption shall, on the date specified in such notice, become due and payable at the then applicable • -15-