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1994-06-21 Minutes
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1994-06-21 Minutes
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7/24/2008 3:49:07 PM
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• <br />• <br /> <br />Adjustable Long Mode shall be subject to redemption pursuant to the <br />terms of such alternative schedule. <br />While any Bonds bear interest at an Adjustable Long Rate, <br />the Authority may only cause a redemption of such Bonds pursuant <br />to this subsection (a)(ii) which would require a payment of a <br />premium if on the date of the giving of notice of redemption the <br />Trustee can draw under the Credit Facility in an amount sufficient <br />to pay such premium due on the .date of redemption. <br />(iii) Any Bond bearing interest at a Fixed Rate shall <br />be subject to redemption prior to Maturity at the option at the <br />Authority., out of amounts deposited in the Redemption Fund, in <br />whole on any Business Day or in part (and if in part in an <br />Authorized Denomination) on any Interest Payment Date applicable <br />to such Bond after the No-Call Period described below, at the <br />following redemption prices (expressed as percentages of the <br />principal amount of the Bonds called for redemption) plus accrued <br />Interest to the date fixed for redemption: <br />The Authority may deliver to the Trustee an alternative <br />redemption schedule to the schedule shown above, provided that the <br />Authority delivers to the Trustee an Opinion of Bond Counsel to the <br />effect that the alternative schedule of redemption will not <br />adversely affect the validity and enforceability of the Bonds in <br />accordance with their terms and will not have an adverse effect on <br />any exemption from federal income taxation to which the Interest <br />on the Bonds would otherwise be entitled. After the first Rate <br />Change Date succeeding the delivery of such alternative schedule <br />and opinion, Bonds operating in an Adjustable Long Mode shall be <br />subject to redemption pursuant to the terms of such alternative <br />schedule. <br />(iv) Any Bond bearing, interest at an Adjustable Long <br />Rate shall be subject to optional redemption prior to Maturity at <br />the option of the Authority from moneys on deposit in the LOC <br />Redemption Account of the Redemption Fund, in whole or in part (and <br />if in part in an Authorized Denomination) on any Rate Change Date <br />49 <br />Term to Maturity No-Call Period Redemption Price <br />
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