1993-07-15 Resolution 79 - Laserfiche WebLink

Home Browse Search

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 meeting, with such changes as the President and the Secretary of the Authority deem necessary or appropriate to effectuate this Resolution and to consummate the sale of the Bonds, said officers' execution and attestation thereof to be conclusive evidence of their approval of such changes. Section 6. The Authority shall enter into the Escrow ' Agreement substantially in the form of the Escrow Agreement submitted to this meeting, in order to effect the refunding of the ' Refunded Bonds in accordance with their terms. The Authority ' hereby authorizes the President and the Secretary to execute and attest, respectively, the Escro w Agreement substantially in the form submitted to this meeting together with such changes and modifications in form or substance as may be approved by the t b President and the Secretary o with any such approval e 7 I~] ' C-5