1996-03-13 Resolution 107 - Laserfiche WebLink

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Section 2. The Bonds are hereby authorized to be issued under, pursuant to, and in accordance with the Trust Agreement with a final maturity date of not later than February 1, 2012, for the Series 1996 A Bonds and a final maturity date of not later than August 1, 2012, for the Series 1996 B Bonds; a maximum rate of interest for any maturity of the Bonds of eight percent (8.0%) per annum, and a maximum underwriter's discount not to exceed three quarters of one percent (.75%) of the aggregate principal amount of the Bonds. Principal of and interest on the Bonds will be payable semiannually on February 1 and August 1, The proceeds of the Bonds shall be delivered to the Trustee and applied by the Trustee in accordance with the Trust Agreement. Section 3. The Bonds may be redeemed prior to maturity, at the option. of the i• Authority in whole or in part, in whole multiples of $5,000, on February 1, 2004, or any date thereafter from any moneys made available for that purpose, at a redemption price expressed as a percentage of the principal amount of each Bond to be redeemed in accordance with the following schedule, plus interest accrued on the Bonds so redeemed to the date fixed for redemption: Redemption Date Optional Redemption Price February 1, 2004, or thereafter on or before January 31, 2005 February 1, 2005, or thereafter on or before January 31, 2006 February 1, 2006, and thereafter prior prior to maturity 101% 100.5% 100% Section 4. At the option of the Underwriter, the Underwriter may aggregate the Series 1996 A Bonds or the Series 1996 B Bonds into one or more term bonds payable -4-