1996-03-13 Resolution 107 - Laserfiche WebLink

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• from mandatory sinking fund redemption payments (the "Term Bonds") required to be made as set forth below. The Term Bonds shall have a stated maturity or maturities on February 1 and August 1. Such Term Bonds. shall be subject to mandatory sinking fund redemption prior to maturity at a redemption price equal to 100% of the principal amount thereof, plus accrued interest to the redemption date, but without premium, on February 1 and August 1 in the years and in the principal amounts as selected by the Underwriter. The Trustee shall credit against the mandatory sinking fund requirement for the Bonds aggregated into Term Bonds, and corresponding mandatory redemption obligation, in the order determined by the Authority, any of the Bonds aggregated into Term Bonds which have been previously 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 Commission and not therefore applied as a credit against any redemption obligation. Each Bond maturing as a Term Bond so delivered or cancelled shall be credited by the Trustee at one hundred (100%) percent 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 Bonds to be redeemed by operation of the mandatory sinking fund requirement shall be accordingly reduced; provided, however, that the Trustee shall only credit the Bonds maturing as Term Bonds to the extent received on or before forty-five (45) days preceding the applicable mandatory redemption date. Section 5. Said Bonds shall be issued in accordance with and shall be secured by a trust agreement substantially in the form of the Trust Agreement submitted to this -5-