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

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To exercise its options under (b), (c), (d) or (e) above, the Company must, within sixty (60) days following the event authorizing or requiring such redemption, give notice to the Issuer and the Trustee, specifying a redemption date not less than fifty (50) days nor more than ninety (90) days from the date such notice is mailed. Mandatory} Redemption Upon Determination of Taxability. All Series 2013 Bonds are subject to mandatory redemption in whole, at their principal amount, plus accrued interest, plus a 3% premium on the Series 2013A Bonds, upon the occurrence of a Determination of Taxability (as defined in Appendix E), on a redemption date not Iaer than thirty (30) days following the finalization of such Determination of Taxability. Acceleration. Upon an Event of Default under the Indenture, all Bonds are subject to acceleration and prepayment on any date selected by the Trustee at their principal amount, plus accrued interest, without premium. Notice of Redemption; Payment The Trustee is required to cause notice of redemption to be mailed to the then owner of each Bond to be redeemed, by first class mail not less than 30 days nor more than 45 days prior to the redemption date. Failure to mail or any defect in any such notice shall not affect the validity of any proceedings for the redemption of any Bond not affected by such failure or defect. Interest on any Bonds or portions thereof called for redemption ceases to accrue on the date established for redemption. In the case of an optional redemption under the Indenture, the notice may state (a) that it is conditioned upon the deposit of moneys, in an amount equal to effect the redemption, with the Trustee on or before the redemption date or (b) that the Company retains the right to rescind such notice on or prior to the scheduled redemption date (in either case, a "Conditional Redemption"), and such notice and optional redemption shall be of no effect if such moneys are not so deposited or if the notice is rescinded as hereinafter described. On or before the redemption date (except for mandatory sinking fund redemption), funds sufficient to redeem such Bonds, including accrued interest thereon to the redemption date, shall be deposited with the Trustee. The Bonds thus called shall not, on or after the specified redemption date, bear any interest and, except for the purpose of payment, shall not be entitled to the lien of the Indenture. Any Conditional Redemption may be rescinded in whole or in part at any time on or before the redemption date if the Company delivers a certificate of the Company to the Issuer and the Trustee instructing the Trustee to rescind the redemption notice. The Trustee shall give prompt notice of such rescission to the affected Bondholders. Any Bonds subject to Conditional Redemption where redemption has been rescinded shall remain Outstanding, and the rescission shall not constitute an Event of Default. Further, in the case of a Conditional Redemption, the failure of the Company to make funds available in part or in whole on or before the redemption date shall not constitute an Event of Default, and the Trustee shall give immediate notice to DTC or the affected Bondholders that the redemption did not occur and that the Bonds called for redemption and not so paid remain Outstanding. Additional Bonds Pursuant to the Indenture the Issuer, at the request of the Company, is authorized to issue Additional Bonds secured and payable on a parity basis with the Series 2013 Bonds provided 34