COM 1109.000 2020-2022 - Laserfiche WebLink

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Sinking Fund Payment schedules set forth in Section 4.1(b) hereof and in any Supplemental Indenture; provided, however, that in lieu or partially in lieu of any mandatory sinking fund redemption, moneys deposited in the Principal Account as set forth above may be used to purchase Outstanding Bonds pursuant to Section 4.6 hereof. In addition to the transfers to the Interest Account and Principal Account described above in this Section, the Trustee shall also transfer thereto such portions of a Prepayment as may be directed to be so transferred in the Certificate of the Special Tax Administrator delivered to the Trustee in connection with the Prepayment. In the event of any purchase of Bonds in lieu of redemption pursuant to Section 4.6 hereof, the Trustee shall also transfer from the Special Tax Fund to the Interest Account and, if the purchase is in lieu of a mandatory sinking fund redemption, to Principal Account the amounts needed to pay the respective portions of the purchase price of the Bonds representing the interest on such Bonds and the principal otherwise payable upon redemption thereof. Section 3.5. Redemption Account of the Special Tax Fund. (a) After making the deposits to the Interest Account and the Principal Account of the Special Tax Fund pursuant to Section 3.4 hereof, and in accordance with the County's election to call Bonds for optional redemption as set forth in Section 4.1(a) hereof, the Trustee shall transfer from the Special Tax Fund and deposit in the Redemption Account moneys available for the purpose and sufficient to pay the principal and the premiums, if any, payable on the Bonds called for optional redemption; provided, however, that amounts in the Special Tax Fund (other than the Administrative Expense Account therein) may be so deposited in the Redemption Account and applied to optionally redeem Bonds only if immediately following such transfer and redemption the amount in the Reserve Account will equal the Reserve Requirement. The Trustee shall also transfer funds from the Project Fund to the Redemption Account if required pursuant to Section 3.9 hereof. (b) Moneys set aside in the Redemption Account shall be used solely for the purpose of redeeming Bonds and shall be applied on the redemption date to the payment of the principal of and premium, if any, on the Bonds to be redeemed upon presentation and surrender of such Bonds; provided, however, that in lieu or partially in lieu of such call and redemption, moneys deposited in the Redemption Account as set forth above may be used to purchase Outstanding Bonds pursuant to Section 4.6 hereof. Section 3.6. Prepayment Account of the Special Tax Fund. (a) Upon receipt of any Prepayment,the Trustee shall deposit in the Prepayment Account the portion of such Prepayment remaining after deduction of the portions representing (i) prepaid Administrative Expenses, which shall be deposited in the Administrative Expense Account pursuant to Section 3.3 hereof, and (ii) interest and principal coming due on the Bonds during the then current Fiscal Year, which shall be deposited in the Interest Account and Principal Account, respectively, pursuant to Section 3.4 hereof. The amounts so to be deposited shall be specified in a Certificate of the Special Tax Administrator delivered to the Trustee in connection with the delivery of such Prepayment. (b) Moneys set aside in the Prepayment Account shall be used solely for the purpose of redeeming Bonds and shall be applied on the redemption date to the payment of the principal of and premium, if any, on the Bonds to be redeemed upon presentation and surrender of such Bonds; provided, however, that in lieu or partially in lieu of such call and redemption, moneys deposited in 25