RES 94045A - Laserfiche WebLink

(d) Credits. On or before the firs[ day of each Rebate Year (as defined in the Rebate Memorandum), upon Authority's written direction, an amount shall be credited to the Rebate Fund, if and to the extent required, so that the balance of the Rebate Fund shall equal the Aggregate Rebate Amount (as defined in the Rebate Memorandum) for the Rebate Year commencing on such first day. In the event that on the first day of any Rebate Year the amount credited to the Rebate Account exceeds the Aggregate Rebate Amount, the Tmstee, upon written instructions from the Authority, shall withdraw the excess from the Rebate Account and credit the excess to the Payment Fund. (e) Termination. The Trustee shall cease to maintain the Rebate Fund upon receipt of a Certificate of the Authority so instructing the Trustee accompanied by an opinion of nationally recognized bond counsel that the Authority or the transaction contemplated by this Ttvst Agreement is not subject to the Rebate Amount (as defined in the Rebate Memorandum). In that event, the Trustee shall credit any remaining monies in the Rebate Fund to the Payment Fund. ARTICLE IV REDEMPTION OF BONDS Section 4.01. Terms of Redemption. (a) Extraordinary Casualty Redemption. The Bonds are subject to extraordinary redemption on any Interest Payment Date (butnot in a total redemption amount of less than $20,000 in principal amount at any one time), upon notice as hereinafter provided, as a whole or in part in integral multiples of $5,000, from prepaid Installment Payments made by the City pursuant to Section 6.01(a) of the Installment Purchase Contracts from funds received by the City due to a casualty loss or govertunental taking of the applicable Enterprise or portions thereof by eminent domain proceedings, under the circumstances and upon the conditions and terms prescribed herein and in the Installment Purchase Contracts, in inverse order of maturities and by lot within a maturity, at a redemption price equal to the sum of the principal amount to be redeemed plus accrued interest accrued to the date fixed for redemption of the Bonds, without premium. (b) Redemption from Optional Installment Payments. Bonds maturing on or after May 1, _, shall be subject to redemption prior to their respective maturity dates as a whole or in part (but not in a total redemption amount of less than $20,000), in inverse order of maturities and by lot within a maturity from prepayments of the Installment Payments made at the option of the City pursuant to Section 6.01(6) of the Installment Purchase Contracts, on the Interest Payment Date with respect to which such redemption shall-have been made at a redemption price equal to the principal amount of the Bonds to.be redeemed, plus accrued interest to the date of redemption of the Bonds and plus a premium calculated as set forth below: Redemption Redemption Period Premium 17 9/06701L.LAI