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Agenda - Economic Development Authority - 05/24/2005
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Agenda - Economic Development Authority - 05/24/2005
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4/14/2025 1:32:42 PM
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5/20/2005 11:16:45 AM
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Meetings
Meeting Document Type
Agenda
Meeting Type
Economic Development Authority
Document Date
05/24/2005
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thereafter, at a redemption prdce equal to par plus accrued interest to date of redemption. <br />Redemption may be in whole or in part, and if in part, the Issuer shall determine the amount of <br />Bonds of each maturity to be prepaid; and if only part of the Bonds having a common maturity <br />date are called for prepayment, the Bonds of that maturity shall be chosen by lot by the Trustee. <br /> <br /> Notice of any such redemption shall be given to the Holder of each Bond called by first <br />class mail, addressed to the Holder at the Holder's address as it appears on the registration books <br />maintained by the Trustee, not earlier than sixty days and not later than thirty days prior to the <br />date fixed for redemption. Prior to the date fixed for redemption, there are required to be <br />deposited w/th the Trustee sufficient fimds to pay the Bonds to be redeemed. Upon the <br />happening of the above conditions, Bonds thus called for redemption shall not bear interest after <br />the call date and, except for the purpose of payment from the funds so deposited, shall no longer <br />be protected by the Indenture.. <br /> <br /> To effect a partial redemption of Bonds having a common maturity-date, the .Trustee shall <br />select, using such method of selection as it shall deem proper in its discretion, an amount equal <br />the principal amount of such Bonds to be redeemed. If a Bond is to be redeemed only in part, it <br />shall be surrendered to the Trustee (with, if the Trustee so requires, a written instrument of <br />transfer in form satisfactory to the Trustee duly executed by the Holder thereof or by the Holder's <br />attorney, duly authorized in writing) and the Issuer shall execute (if necessary) and the Trustee <br />shalI authenticate and deliver to the Holder of such Bond, without service charge, a new Bond Or <br />Bonds of the same series having the same stated maturity and interest rate and of any authorized <br />denomination or denominations, as requested by such Holder, in aggregate principal amount <br />equal to and [n exchange for the unredeemed portion of the principal of the Bond so surrendered. <br /> <br /> This Bond is transferable, as provided in the Indenture, only upon books of the Issuer <br />kept at the office of the Trustee by the Holder hereof in person or by the Holder's duly author/zed <br />attorney, upon surrender of this Bond for transfer at the office of the Trustee, duly endorsed or <br />accompanied by a va'it-ten instrument of transfer in form satisfactory to the Trustee duly executed <br />by the Holder hereof or the Holder's duly authorized attorney, and, upon payment of any tax, fee <br />or other governmental charge required to be paid with_ respect to such transfer, one or more fully <br />registered Bonds of.the same principal amount and interest rate will be issued to the designated <br />transferee or transferees. <br /> <br /> The Bonds may become subject to acc~Ieration and prepayment .upon the occurrence of <br />an Event of Default or upon the occurrence of a Non-appropriation resulting in a termination of <br />the Lease. <br /> <br /> The Bonds are issuable only in fully registered form without interest coupons in <br />denominations of $5,000 or any integral multiple thereof. As provided in the .Indenture and <br />subject to certain limitations therein set forth, the Bonds of are exchangeable for a like aggregate <br />principal amount of Bonds of a different authorized denomination, as requested by the Holder or <br />the Holder's duly authorized attorney upon surrehder thereof to the'Trustee. <br /> <br /> The Bonds have not been designated by the Issuer as "qualified tax-.exempt obligations" <br />for purposes o£Section 265(b)(3) of the Internal Revenue Code of 1986; as amended.- <br /> <br />74 <br /> <br />1763903vl <br /> <br /> <br />
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