RES 94045A - Laserfiche WebLink

Sinking Fund Principal Amount of Redemption Date Term Bonds M( av 11 To Be Redeemed (d) Amount Paid to Bond Owners: Selection of Bonds. In the event that part, but not all, of that portion of the Bonds is to be redeemed, [he Bonds to be redeemed shall be selected by the Trustee in inverse order of maturity, and by lot within a maturity. For the purpose of the selection described in this Section, all Bonds registered in the name of the same Owner shall be aggregated and treated as a single Bond held by such Owner. Notwithstanding any of the foregoing, in any such partial redemption the Trustee shall call the Bonds in integral multiples of $5,000 with the exception of the Bonds allocable to any one Owner, which may include a Bond in an amount which is not an integral multiple of $5,000. In the event the Trustee does not have monies available to redeem the entire amount scheduled for redemption (including a mandatory sinking fund redemption), the Trustee shall redeem Bonds of the applicable maturity or maturities by lot up to a principal amount equal to the available monies. (e) Revised Lease Payment Schedule. Upon redemption in part, the Trustee shall provide to the City sufficient infomta[ion to permit [he City to prepare a revised schedule of Lease Payments, which schedule shall take into account such redemption shall be delivered [o the Trustee and shall be and become for all purposes thereafter Exhibit A to the Lease Agreement. Section 513. ~Reserved~ Section 514. Notice of Redemption. When redemption is authorized or required pursuant to Section 512 hereof, the Trustee shall give notice ("Redemption Notice"), at the expense of the City or the City, as the case maybe, of the redemption of the Bonds. Such Redemption Notice shall specify: (a) the Bonds or designated portions thereof (in the case of redemption of the Bonds in part but not in whole) which aze to be redeemed, (b) the date of redemption, (c) the place or places where 26 94WYnIM.lAI