1994-05-17 Resolution 91 - Laserfiche WebLink

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mailing of said official notices of redemption shall be paid by the • Authority. For so long as the Depository or its nominee is the registered owner.of the Bonds, any such notice of redemption of the Bonds will conform to the requirements set forth in the Representations Letter. 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 Redemption Price, and on presentation -and surrender of such Bonds in accordance with such notice, at the place at which the same are expressed in such notice to be redeemable, such Bonds shall be redeemed by the Trustee on behalf of the Authority by the payment of such Redemption Price to the registered owners out of • funds held by the Trustee for that purpose. From and after the date of redemption so designated, unless default shall be made in the redemption of the Bonds upon presentation, interest on Bonds designated for redemption shall cease. If not so paid on presentation thereof, the Bonds shall continue to bear interest at the rate therein specified. Sec. 4.05. All Bonds so redeemed (or purchased as authorized by Sec. 3.07) shall be cancelled and disposed of as provided in Section 2.01. Bonds so redeemed or purchased shall not be reissued, nor shall any Bonds be issued in lieu thereof. Sec. 4406. If the amount necessary to redeem any Bonds called for redemption, as aforesaid, shall have been deposited with the Trustee for the account of the owner or owners of such Bonds on or before the date specified for such redemption, and if the notice hereinbefore mentioned shall have been duly mailed or provision satisfactory to the Trustee shall have been made for the mailing of such notice, and if all proper charges and expenses of the Trustee in connection with such redemption shall have been paid or provided for, the Authority shall be released from all liability on such Bonds and such Bonds shall no longer be deemed to be outstanding hereunder, and interest thereon shall cease at the date specified for such redemption; and thereafter such Bonds shall not • -19-