RES 94045A - Laserfiche WebLink

levy or pledge any form of taxation or for which it has levied or pledged any form of taxation. The obligations of the City to pay Lease Payments does not constitute debt or indebtedness of the City, the State of California or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction. The Bonds are subject to redemption in whole or in part, without premium, at the principal amount to be redeemed, plus accrued interest to the date of redemption, on the earliest possible date, upon notice as hereinafter provided, in whole or in part, from funds received by the City due [o a casualty loss or governmental taking of the Projector portions thereof, along with such other moneys transferred pursuant to Section 303 of the Trust Agreement to the Redemption Account, under the circumstances and upon the conditions and terms prescribed in the Tmst Agreement and in the Lease Agreement. The Bonds maturing on or after May 1, , aze subject to redemption prior to maturity as a whole or in part (but not in an amount less than $20,000) on any Interest Payment Date on or after May I, ~ in the event the City exercises its option under the Lease Agreement to prepay in whole or in part the principal component of its Lease Payments in order to cause redemption in whole or in part (in an integral multiple of $5,000 but not in an amount of less than $20,000) of the Bonds, at a redemption price equal to the principal amount of the Bonds to be redeemed, together with accrued interest to the redemption date, plus a redemption premium set forth below: Redemption Period Redemption Premium May 1, through April 30, _...........0.25% per year or portion of a year from date cf redemption to date of maturity, but not more than 2%. May 1, and thereafter ..............:..........A% Bonds maturing on May 1, _ (the "_ Term Bonds") are also subject to mandatory redemption in whole, or in part by lot, on May 1 in each year commencing May 1, ~ from Lease Payments made by the City pursuant to the Lease Agreement, at a redemption price equal to the principal amount evidenced thereby to be redeemed, without premium, in the aggregate respective principal amounts and on May 1 in the respective years as set forth in the following table; provided, however, that if some but not all of such Term Bonds have been redeemed pursuant to the two preceding paragraphs; the total amount of all future sinking fund payments shall be reduced by the aggregate principal amount of such Tenn Bonds so redeemed, to be allocated among such sinking fund payments on a pro rata basis in integral multiples of $5,000 as determined by the Authority: A-3 9406901MLAI