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COM 1109.000 2020-2022
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COM 1109.000 2020-2022
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Last modified
11/10/2022 11:36:40 AM
Creation date
11/9/2022 11:12:52 AM
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Communications
Communications - Type
COM
Communications - Council Term
2020-2022
Communication
1109
Point
000
Author
Deanna S. Sako, Director of Finance
Communications - Referred To
COUNCIL
Document Relationships
AGE COUNCIL 2022-11-16 2020-2022
(Related To)
Path:
\Council Records\Agendas\2020-2022\Council
RES 618 Draft 01 2020-2022
(Related To)
Path:
\Council Records\Resolutions\2020-2022
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(a) The Bonds, or portions thereof, designated for redemption shall, on the date fixed for <br /> redemption, become due and payable at the redemption price thereof as provided in this Indenture, <br /> anything in this Indenture or in the Bonds to the contrary notwithstanding; <br /> (b) Upon presentation and surrender thereof at the Designated Office of the Trustee, the <br /> redemption price of such Bonds shall be paid to the Owners thereof; <br /> (c) As of the redemption date the Bonds or portions thereof so designated for redemption <br /> shall be deemed to be no longer Outstanding and such Bonds or portions thereof shall cease to bear <br /> further interest; <br /> (d) As of the date fixed for redemption no Owner of any of the Bonds or portions thereof <br /> so designated for redemption shall be entitled to anyof the benefits of this Indenture or any <br /> P <br /> Supplemental Indenture, or to any other rights, except with respect to payment of the redemption <br /> price and interest accrued to the redemption date from the amounts so made available; and <br /> (e) Upon the payment of the redemption price of any Bonds being redeemed, each check <br /> or other transfer of funds issued for such purpose shall to the extent practicable bear the CUSIP <br /> number identifying, by issue and maturity, the Bonds being redeemed with the proceeds of such <br /> check or other transfer. <br /> Section 4.6. Purchase of Bonds by County. In lieu, or partially in lieu, of any optional <br /> redemption, mandatory sinking fund redemption or special mandatory redemption of Bonds, the <br /> County may elect, prior to the selection of Bonds for redemption by the Trustee, to instruct the <br /> Trustee to purchase Bonds subject to such redemption at public or private sale at such prices as the <br /> County may in its discretion determine; provided that the purchase price thereof(including brokerage <br /> or other expenses) shall not exceed the redemption price thereof plus accrued interest to the purchase <br /> date and, in the case of purchase with funds in an optional redemption account, applicable premium. <br /> The portion of such purchase price representing the redemption price of the Bonds to be purchased <br /> shall be paid from the Redemption Account, Principal Account or Prepayment Account of the <br /> Special Tax Fund, as applicable, and the portion representing accrued interest shall be paid from the <br /> Interest Account of the Special Tax Fund. <br /> ARTICLE V <br /> COVENANTS AND WARRANTY <br /> Section 5.1. Warranty. The County shall preserve and protect the security pledged <br /> hereunder to the Bonds against all claims and demands of all Persons. <br /> Section 5.2. Covenants. So long as any of the Bonds issued hereunder are Outstanding <br /> and unpaid, the County makes the following covenants with the Bondowners under the provisions of <br /> Chapter 32 and this Indenture (to be performed by the County or its proper officers, agents or <br /> employees), which covenants are necessary and desirable to secure the Bonds and tend to make them <br /> more marketable; provided, however, that said covenants do not require the County to expend any <br /> funds or moneys other than the Special Taxes and other amounts deposited to the Special Tax Fund <br /> and the Project Fund. <br /> (a) Punctual Payment; Against Encumbrances. The County covenants that it will receive <br /> all Special Taxes in trust and will deposit such amounts with the Trustee not less often than once per <br /> 37 <br />
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