Agenda - Council - 04/27/2010 - Laserfiche WebLink

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ARTICLE THREE AMENDMENT OF ORIGINAL INDENTURE OF TRUST Section 3.1 Redemption. Section 3.1(4) of the Original Indenture is hereby amended to be as follows: "(4) The Bonds are subject to mandatory sinking fund redemption on December 1 in each of the following years and in the following principal amounts at a Redemption Price equal to the principal amount of the Bonds to be redeemed plus accrued interest to the Redemption Date: (December 1) (December 1) Year Principal Amount Year Principal Amount 2010 $ 155,000 2017 $ 230,000 2011 160,000 2018 260,000 2012 165,000 2019 300,000 2013 170,000 2020 310,000 2014 180,000 2021 320,000 2015 185,000 2022 330,000 2016 210,000 2023 * 340,000" * Final Maturity Section 3.2 Draws Under the Confirming Letter of Credit. All moneys drawn under the Confirming Letter of Credit shall be treated under the Indenture as moneys drawn under the Letter of Credit. Section 3.3 Draws Under the Letter of Credit. Section 7.2(1), (2) and (3) of the Original Indenture is hereby amended to be as follows: "Section 7.2 Draws under the Letter of Credit. The Trustee agrees to draw moneys under the Letter of Credit and the Confirming Letter of Credit in accordance with their terms to provide moneys sufficient for the payment in full of the principal of and interest on the Bonds when due, whether at maturity or by acceleration and the payment in full of the purchase price of all Bonds to be purchased pursuant to Section 4.1 or 4.2 hereof on any date. In furtherance thereof the Trustee shall draw moneys under the Letter of Credit and the Confirming Letter of Credit in the following circumstances and only in the following circumstances: (1) On or before 2:00 P.M., Minnesota time, on or before the second Business Day immediately preceding the date 14 2496622v1