1993-07-15 Resolution 79 - Laserfiche WebLink

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REDE:~fPTION PROVISIONS tCont Q) Mandatory Sinking Fund Redemption: ' The Taxable 1993 Bonds maturing on August 1, 2008 and August 1, 2012 ("Term Bonds"), aze subject to ' mandatory sinking fund redemption prior to maturity at a redemption price equal to the principal plus accrued interest to date of redemption on August 1st and Februazy 1st in accordance with the following schedule: $715.000 Term Bonds due August 1. 2008 , Maturity Amount 2/1/07 $170,000 8/1/07 175,000 2/1/08 180,000 , The remaining $190,000 of Taxable 1993 Bonds aze payable at maturity on August 1, 2008. $1, 835.000 Term Bonds due August 1. 2012 ' Maturity Amount 2/1/09 $200,000 ' 8/1/09 205,000 2/1/10 215,000 8/1/10 225,000 ' 2/1/11 235,000 8/1/11 240,000 2/1/12 255,000 ' The remaining $260,000 of Taxable 1993 Bonds aze payable at maturity on August 1, 2012. . If less than all of the Taxable 1993 Bonds are called for redemption at one time, the Taxable 1993 Bonds shall be ' redeemed within a maturity or maturities selected by the Authority. The Trustee will select the particulaz Taxable 1993 Bonds or portion to be redeemed in principal amounts of whole multiples of $5,000. The Trustee will select the Taxable 1993 Bonds to be redeemed within a maturity by lot in such a manner as it deems fair and appropriate. ' If some Taxable 1993 Bonds aze to be redeemed by optional redemption and mandatory sinking fund redemption on the same date, the Trustee shall select by lot the Taxable 1993 Bonds for optional redemption before selecting the Taxable 1993 Bonds by lot for the mandatory sinking fund redemption. ' The Trustee shall credit against the mandatory sinking fund requirement for the Taxable 1993 Bonds maturing as term bonds, and corresponding mandatory redemption obligation, in the order determined by the Authority, any Taxable 1993 Bonds maturing as term bonds which have previously been redeemed (otherwise than as a result of , a previous mandatory redemption requirement) or delivered to the Trustee for cancellation or purchased for cancellation by the Authority and not theretofore applied as a credit against any redemption obligation. Each Taxable 1993 Bond maturing as a term bond so delivered or cancelled shall be credited by the Trustee at 100% of ' the principal amount thereof against the mandatory sinking fund obligation on such mandatory sinking fund date, and any excess of such amount shall be credited on future redemption obligations, and the principal amount of the Taxable 1993 Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, however, the Trustee shall only credit such Taxable 1993 Bonds maturing as term bonds to the ' extent received on or before 45 days preceding the applicable mandatory redemption date. Notice of Redemption: ' Notice of redemption shall be given at least 30 days prior to the date fixed for redemption by mail unless the notice is waived by the registered owner of a Taxable 1993 Bond. Such notice shall be mailed to the address of the registered owners as shown on the registration records of the Trustee. Interest on the Taxable 1993 Bonds so called ' for redemption shall cease on the redemption date fixed in such notice if sufficient funds are available at the principal office of the Trustee to pay the redemption price on the date so named. , See Section 3 and Section 4 of the Bond Resolution for a complete description of redemption provisions. -8-