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1994-05-17 Resolution 91
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1994-05-17 Resolution 91
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1/29/2013 8:33:50 AM
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held in book- entry -only form, payments of principal of and redemption premium, if any, and interest on the Bonds <br />• will be paid by the Trustee only to DTC or its nominee. Neither the Authority nor the Trustee will have any <br />responsibility for a Beneficial owner's receipt from DTC or its nominee, or from any DTC Participant (as <br />hereinafter defined) or Indirect Participant (as hereinafter defined), of any payments of principal of or redemption <br />premium, if any, or interest on any Bonds. See "Book - Entry-Only System." <br />Redemption <br />Optional Redemption. The Bonds will be subject to redemption prior to maturity, at the option of the <br />Authority, on February 1, 2004, or at any time thereafter, in whole or in part, at the respective redemption prices, <br />expressed as percentages of the principal amount of the Bonds to be redeemed, set forth below, together with <br />accrued interest to the redemption date: <br />Redemption Period Redemption <br />(both dates inclusive) Price <br />February 1, 2004 to January 31, 2005 102% <br />February 1, 2005 to January 31, 2006 101% <br />February 1, 2006 (and thereafter) 100% <br />Extraordinary Optional Redemption. In the event that all or a portion of the facilities subject to the Lease <br />are damaged or destroyed to such an extent that it is not practicable or possible to restore and reconstruct the same <br />pursuant to the Lease, the Bonds may be subject to extraordinary optional redemption in whole at any time at a price <br />equal to 100% of the principal amount of the Bonds plus interest accrued to the date of redemption. <br />Mandatory Sinking Fund Redemption. The Bonds maturing on February 1, 2017 (the "Term Bond "), are <br />subject to mandatory sinking fund redemption prior to maturity at a redemption price equal to the principal amount <br />• of the Term Bond to be redeemed plus accrued interest to the redemption date, but without any redemption <br />premium, on February 1 of the years and in such respective amounts set forth below: <br />Year* Principal Amount* <br />2008 $ 320,000 <br />2009 340,000 <br />2010 365,000 <br />2011 385,000 <br />2012 410,000 <br />2013 440,000 <br />2014 465,000 <br />2015 495,000 <br />2016 530,000 <br />2017 565,000 (final maturity) <br />*Preliminary; subject to change. <br />-3- <br />
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