COM 1109.000 2020-2022 - Laserfiche WebLink

Home

and payable on each Bond or portion thereof called for redemption, the principal thereof, together with any premium, and interest accrued to the redemption date, and that from and after such date, interest thereon shall cease to accrue and be payable. (b) At least 30 days but no more than 60 days prior to the redemption date, the Trustee shall mail a copy of such notice, by first class mail, postage prepaid,to the respective Owners thereof at their addresses appearing on the Bond Register and to the original purchaser of the Bonds. The actual receipt by the Owner of any Bond or the original purchaser of any Bond of notice of such redemption shall not be a condition precedent to redemption, and neither the failure to receive nor any defect in such notice shall affect the validity of the proceedings for the redemption of such Bonds or the cessation of interest on the redemption date. A Certificate by the Trustee that notice of such redemption has been given as herein provided shall be conclusive as against all parties and the Owner shall not be entitled to show that he or she failed to receive notice of such redemption. (c) In addition to the foregoing notice, further notice shall be given by the Trustee as set out below, but no defect in said further notice nor any failure to give all or any portion of such further notice shall in any manner defeat the effectiveness of a call for redemption if notice thereof is given as above prescribed. Each further notice of redemption shall be sent by the Trustee by registered or certified mail, overnight delivery service or facsimile transmission or by other acceptable means to any registered securities depositories then in the business of holding substantial amounts of obligations of types comprising the Bonds and any national information services as shall be specified by the Trustee that disseminate notice of redemption of obligations such as the Bonds. (d) In the case of any optional redemption, the notice of redemption may state that such redemption is conditional upon the receipt by the Trustee, on or before the date fixed for redemption, of moneys sufficient to pay in full the redemption price of the Bonds proposed to be redeemed. If the notice contains such condition, and moneys sufficient to pay in full the redemption price of the Bonds proposed to be redeemed shall not be received by the Trustee on or prior to the date fixed for redemption, such notice of redemption shall be null and void and of no force and effect, the County shall not redeem or be obligated to redeem any Bonds, and the Trustee shall give notice, in the same manner as notice of redemption is given, that moneys sufficient to pay in full the redemption price of the Bonds proposed to be redeemed were not received on or prior to the date fixed for redemption and such redemption did not occur. In the event of the failure to redeem, all Bonds surrendered for redemption shall be promptly returned to the Owner or Owners by the Trustee. Section 4.4. Partial Redemption of Bonds. Upon surrender of any Bond to be redeemed in part only, the County shall execute and the Trustee shall authenticate and deliver to the Bondowner, at the expense of the County, a new Bond or Bonds of authorized denominations equal in aggregate principal amount to the unredeemed portion of the Bonds surrendered, with the same interest rate and the same maturity. Section 4.5. Effect of Notice and Availability of Redemption Money. Notice of redemption having been duly given, as provided in Section 4.3 hereof, and the amount necessary for the redemption having been made available for that purpose and being available therefor on the date fixed for such redemption: 36