My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
Authorizing $1,550.000 Economic Development Technologies Corp Project
sbend
>
Public
>
Common Council
>
Legislation
>
Ordinances
>
1984
>
Authorizing $1,550.000 Economic Development Technologies Corp Project
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/28/2013 3:41:04 PM
Creation date
3/27/2013 2:12:43 PM
Metadata
Fields
Template:
City Council - City Clerk
City Council - Document Type
Ordinances
City Counci - Date
12/3/1984
Ord-Res Number
7405-84
Bill Number
126-84
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
34
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
Show annotations
View images
View plain text
The principal installments of the Bond shall be subject <br />to redemption prior to maturity by the Issuer in the event that <br />the Company shall exercise its option to prepay the principal <br />installments of the Note upon a Determination of Taxability, as a <br />whole, and not in part, on any date within sixty ( 60 ) days of a <br />Determination of Taxability, at a redemption price of 100% of the <br />outstanding principal amount thereof being redeemed and accrued <br />interest to the date fixed for redemption, all as provided in <br />Section 7.1 of the Agreement, together wittl any amounts due and <br />owing under Sections 5.9(a) and 7.7 of the Agreement. <br />The principal installments of the Bond shall also be <br />subject to redemption prior to maturity at the option of the <br />Issuer from any available funds, including funds derived from the <br />prepayment of the principal installments of the Note (or a <br />portion thereof) at the option of the Company pursuant to <br />Section 7.2 of the Agreement or borrowed funds, as a whole, or in <br />part in the inverse order of maturity of the principal install- <br />ments of the Bond, on any date during which the Bond bears <br />interest at a rate calculated on the basis of the Prime Rate (as <br />defined in the form of Bond in this Ordinance), at a redemption <br />price of 100% of the principal amount thereof being redeemed plus <br />accrued interest to the date fixed for redemption. <br />The principal installments of the Bond shall be further <br />subject to redemption prior to maturity by the Issuer in the <br />event the Company shall elect to exercise its option to prepay <br />the principal installments of the Note and to cause the principal <br />installments of the Bond to be redeemed prior to maturity as <br />provided in Section 7.3 of the Agreement in the event of damage <br />to or destruction of or condemnation of the Premises or certain <br />other events described therein. As a result of any such event, <br />the principal installments of the Bond shall be subject to <br />redemption prior to maturity on any date, as a whole, and not in <br />part, at a redemption price of 1000 of the principal amount <br />thereof being redeemed plus accrued interest to the date fixed <br />for redemption, together with any amounts due and owing under <br />Section 7.7 of the Agreement. <br />The principal installments of the Bond shall be further <br />subject to redemption prior to maturity by the Issuer in the <br />event that any moneys remain in the Construction Fund upon <br />receipt by the Bank of a completion certificate pursuant to <br />Section 3.4 of the Agreement (other than moneys withheld and used <br />to pay costs of the Project, as set forth in Section 3.4 of the <br />Agreement) or any moneys remain from any insurance proceeds after <br />the completion of the repair, rebuilding or restoration of the <br />Premises pursuant to Section 4 of the Mortgage or any moneys <br />remain from any condemnation proceeds after the completion of the <br />restoration or acquisition of substitute property pursuant to <br />
The URL can be used to link to this page
Your browser does not support the video tag.