1994-05-17 Resolution 91 - Laserfiche WebLink

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• The Trustee shall credit against the mandatory sinking fund requirement for the Bonds maturing on 11 , as set forth above, any Bonds of such maturity delivered to the Trustee for cancellation or purchased for cancellation by the Trustee and cancelled by the Trustee and not theretofore applied as a credit against any mandatory sinking fund requirement. Each Bond of such maturity so delivered or cancelled shall be credited by the Trustee at one hundred percent (100%) of the principal amount thereof against the mandatory sinking fund requirements in inverse order of mandatory sinking fund redemption dates, and the principal amount of Bonds of such maturity to be redeemed on such mandatory sinking fund requirements shall be accordingly reduced; provided, however the Trustee shall only credit such Bonds to the extent such Bonds are received on or before forty -five (45) days preceding the applicable mandatory sinking fund redemption date as set forth above. 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 maturities selected by the Authority and by lot (in • such manner as the Trustee shall determine) within maturities. No 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 sent first -class mail 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 • -18-