Agenda - Council - 08/13/2013 - Laserfiche WebLink

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SUMMARY INFORMATION The following is a summary of certain information contained in this Official Statement. The summary is not comprehensive or complete and is qualified in its entirety by reference to the complete Official Statement. Undefined capitalized terms used below are defined in Appendix F hereto or elsewhere in this Official Statement. The Series Collectively, the $11,180,000* Lease Revenue Refunding Bonds 2013 Bonds (PACT Charter School Project), Series 2013A and the $ Taxable Lease Revenue Refunding Bonds (PACT Charter School Project) Series 2013B and, together with the Series 2013A Bonds, the "2013 Bonds" to be issued by the City of Ramsey in denominations of $5,000 or any integral multiple thereof. See "THE SERIES 2013 BONDS - Interest; Maturity; Payment." Payment Payment Redemption or Prepayment Interest accrues on the Series 2013 Bonds at the rates set forth on the cover hereof from the dated date and is payable on 1 and 1 of each year (commencing 1, 2013) by check or draft of the Trustee mailed on such dates to the persons who were the registered owners of the Series 2013 Bonds as of the 15th day of the month preceding each interest payment date; provided that any holder of not less than $1,000,000 principal amount of Series 2013 Bonds may receive payment of interest by wire transfer upon proper instruction to the Trustee. Principal and premium, if any, will be payable at the principal corporate trust office of the Trustee. See "THE SERIES 2013 BONDS — Interest; Maturity; Payment." As more fully described herein, the Series 2013 Bonds are subject to redemption or prepayment prior to maturity, as follows: (a) optional redemption of the Series 2013A Bonds maturing on or after 1, 20_ upon request of the Company in whole or in part on any date, on and after 1, 20, at par plus accrued interest; (b) extraordinary redemption at par plus accrued interest due to the occurrence of certain casualty, condemnation, or other unexpected events; (c) for the Series 2013A Bonds maturing on 1, 20, 20, 20 , and 20 (the "Series 2013 Term Bonds"), mandatory redemption at par plus accrued interest due to sinking fund redemption; (d) mandatory redemption in whole upon the occurrence of a Determination of Taxability at par plus accrued interest plus, with respect to the Series 2013A Bonds, a premium of 3% of the principal redeemed; and (c) acceleration due to an Event of Default occurring under the Indenture, the Loan Agreement, the Tax Regulatory Agreement, the Lease, the Pledge Agreement or the Mortgage. See "THE SERIES 2013 BONDS - Redemption of Series 2013 Bonds." * Preliminary, subject to change iii