Agenda - Council - 07/12/2022 - Laserfiche WebLink

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ARTICLE II THE BONDS; AND THE SERIES 2022 BONDS SECTION 2.1. Authorized Amount of the Bonds; All Bonds Equally and Ratably Secured. No Bonds may be issued under this Indenture except in accordance with this Article. The aggregate principal amount of the Series 2022A Bonds that may be issued under this Indenture is $ , and the aggregate principal amount of the Series 2022B Bonds that may be issued under this Indenture is $ Except as hereinafter provided, all Bonds issued under this Indenture and at any time Outstanding shall in all respects be equally and ratably secured hereby,without preference,priority or distinction on account of the date or dates or the actual time or times of the issue or maturity of the Bonds, so that all Bonds at any time issued and Outstanding hereunder shall have the same right, lien and preference under and by virtue of this Indenture, and shall all be equally and ratably secured hereby. SECTION 2.2. Issuance of Bonds and Series 2022 Bonds. (a) The Bonds shall be dated as of the date of initial authentication and delivery thereof. The Bonds shall bear interest on the basis of a 360-day year composed of twelve (12) thirty (30) day months, from their date until payment of principal has been made or provided for, payable on each Interest Payment Date, except that Bonds that are delivered upon transfer, exchange or other replacement shall bear interest from the most recent Interest Payment Date to which interest has been paid or duly provided for, or if no interest has been paid, from the Date of Issuance. (b) The Series 2022 Bonds shall be designated "Charter School Lease Revenue Bonds (PACT Charter School Project), Series 2022A" and "Taxable Charter School Lease Revenue Bonds (PACT Charter School Project), Series 2022B," respectively. The Series 2022 Bonds shall be issuable only in fully registered form in minimum denominations of $5,000 or any integral multiple of$5,000 in excess thereof. Unless the Issuer shall otherwise direct, the fully registered Series 2022A Bonds and Series 2022B Bonds shall each be numbered consecutively from R-1 upward. (c) The Series 2022 Bonds shall be dated as of their date of original issuance and shall be authenticated initially as of their date of original issuance and thereafter as of the Interest Payment Date next preceding the date of issue (pursuant to Section 2.4 hereof), exchange or transfer, unless the date of such issuance, exchange or transfer is an Interest Payment Date, in which case the date of authentication shall be that Interest Payment Date. If payments of the interest on the Series 2022 Bonds shall be in default, Series 2022 Bonds issued in exchange for Series 2022 Bonds surrendered for transfer or exchange shall be authenticated as of the date to which interest has been paid in full on the Series 2022 Bonds surrendered or, if no interest has been paid on the Series 2022 Bonds, the date of the first authentication and delivery of Series 2022 Bonds hereunder. (d) The Series 2022 Bonds shall bear interest from their dated date, payable semiannually on each Interest Payment Date;provided that during the occurrence and continuance 22 735810810