1996-09-11 Resolution 110 - Laserfiche WebLink

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Section 1. The Authority hereby approves and ratifies the execution of the • Bond Purchase Agreement providing for the sale of the Bonds in an aggregate principal amount of Three Million Seven Hundred Ninety Thousand and 00/100 Dollars ($3,790,000.00) to refund the Refunded Bonds. Section 2. The Addendum attached hereto as Exhibit A is hereby approved and the President or Vice President and Secretary-Treasurer are hereby authorized to execute said Addendum. The Lease shall be amended as of the date (the "Deposit Date") when the Authority deposits or causes to be deposited a portion of the proceeds derived from the sale of the Bonds into an escrow fund (the "Escrow Fund") to be established by that certain Irrevocable Escrow Deposit Agreement, such Agreement to be dated as of September 1, 1996, to reduce the annual rental payments payable in semi-annual installments. The Deposit Date shall be recorded as an endorsement to the Addendum. Section 3. The Authority hereby authorizes and directs the President of the Authority to execute and deliver the Notice of Redemption to the Trustee on the Deposit Date. Section 4. Section 3 of the Bond Resolution is amended and replaced with the following: Section 3. The Bonds may be redeemed prior to maturity, at the option of the Authority in whole or in part, in whole multiples of $5,000 on February 1, 2006, 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: . -3-