01-26-15 Agenda, Packet and Committee Meeting Notice

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4. The Indiana Legislature or an administrative agency with jurisdiction in the matter could modify or enact new laws or regulations or a court of competent jurisdiction could interpret the laws or regulations governing all matters associated with CEDIT Revenues in a manner that may negatively affect the owners of the Bonds. 5. Adverse economic conditions in the County, the State or the United States could result in a reduction in the adjusted gross income of qualifying taxpayers in the County and, therefore, a reduction in CEDIT revenues. Such adverse economic conditions could include a general economic downturn, strikes, lay -offs or plant closings in the County, a reduction in the number of taxpayers in the County or a reduction in the aggregate adjusted gross income of the County taxpayers. 6. Local area or statewide delinquencies in State income tax collections could result in reduced CEDIT receipts. REDEMPTION PROVISIONS Optional Redemption The Bonds maturing or subject to mandatory sinking fund redemption on and after February 1, 2025, are redeemable prior to maturity at the option of the City, in whole or in part, on August 1, 2024, or any date thereafter, on thirty (30) days' notice, in any order of maturities to be selected by the City and by lot within a maturity, at 100% of face value plus accrued interest to the redemption date. Mandatory Sinking Fund Redemption If any Bonds are issued as term bonds, they will be subject to mandatory sinking fund redemption. If any Bonds are issued as a term bond, the Paying Agent shall credit against the mandatory sinking fund requirement for such Bond maturing as a term bond, as though it were a redemption of serial bonds, and, if more than one term bond of any maturity is outstanding, redemption of such maturity shall be made by lot. Sinking fund redemption payments shall be made in a principal amount equal to such serial maturities, plus accrued interest to the redemption date, but without premium or penalty. Notice of Redemption: Payment of Redeemed Bonds Notice of redemption will be mailed by first -class mail to the address of each registered owner of a Bond to be redeemed as shown on the Registration Record not more than sixty (60) days and not less than thirty (30) days prior to the date fixed for redemption except to the extent „ .: _such redemption notice is waived by owners of Bonds redeemed, provided, however, that failure to give such notice by mailing, or any defect therein, with respect to any Bond will not affect the validity of any proceedings for the redemption of any other Bonds. The notice will specify the date and place of redemption, the redemption price and the CUSIP numbers, if any, of the Bonds called for redemption. The place of redemption may be determined by the City. Interest on the Bonds so called for redemption will cease on the redemption date fixed in such notice if sufficient funds are available at the place of redemption to pay the redemption price on the date so named. -5-