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Series 1994A
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Vol. 1- City of Santa Ana Financing Authority (Police Admin. and Holding Facility)
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Series 1994A
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redeemed, together with interest accrued thereon to the redemption date, and that from and <br /> after such redemption date interest thereon shall cease to accrue, and shall require that such <br /> Bonds be then surrendered at the address of the Trustee specified in the redemption notice. <br /> (e) Special Provisions Relating to AIRS. (i) Notwithstanding any other <br /> provision in this Indenture, (1) no ARS shall be redeemed or delivered to the Trustee for <br /> cancellation on any date, unless an equal aggregate principal amount of IRS is redeemed or <br /> delivered to the Trustee for cancellation on the same date and (2) no IRS shall be redeemed <br /> or delivered to the Trustee for cancellation on any date, unless an equal aggregate principal <br /> amount of ARS is redeemed or delivered to the Trustee for cancellation on the same date. <br /> (ii) Whenever provision is made in this Indenture for the redemption of the <br /> ARS and the IRS and less than all of the outstanding ARS and IRS are to be redeemed <br /> (other than pursuant to subsection (b)(ii) above), the Authority will direct the principal <br /> amount of each maturity of the ARS and of the IRS to be redeemed, provided that such <br /> amounts must be in Authorized Denominations. Within a maturity, the Trustee shall select <br /> ARS and IRS for redemption as specified in Section 7 of Appendix A. The Trustee shall <br /> promptly notify the Authority in writing of ARS and IRS so selected for redemption. <br /> (t) Whenever less than all Outstanding Bonds maturing on any one date are <br /> called for redemption at any one time, the Trustee shall select the Bonds to be redeemed by <br /> lot in any manner which the Trustee deems fair; provided, however, that if less than all the <br /> Outstanding Term Bonds of a particular maturity are called for redemption at any one time, <br /> the Trustee shall specify a reduction in any sinking fund payment required to be made with <br /> respect to such Bonds in an amount equal to the Outstanding Term Bonds to be redeemed <br /> which, to the extent possible, results in approximately equal Annual Debt Service on the <br /> Bonds Outstanding following such redemption. For purposes of selecting Bonds for <br /> redemption, Current Interest Bonds shall be deemed to be composed of portions of$5000 <br /> principal and Capital Appreciation Bonds shall be deemed to be composed of$5000 <br /> maturity amount and any such portion may be separately redeemed. <br /> (g) If notice of redemption has been duly given as aforesaid and money <br /> for the payment of the redemption price of the Bonds called for redemption is held by the <br /> Trustee, then on the redemption date designated in such notice Bonds shall become due and <br /> payable, and from and after the date so designated interest on the Bonds so called for <br /> redemption shall cease to accrue, and the Owners of such Bonds shall have no rights in <br /> respect thereof except to receive payment of the redemption price thereof. <br /> (h) Failure by the Trustee to give notice pursuant to this Section to any <br /> one or more of the Information Services or Securities Depositories, or the insufficiency of <br /> any such notice shall not affect the sufficiency of the proceedings for redemption and shall <br /> not result in any liability to the Trustee. Failure by the Trustee to mail notice of <br /> redemption pursuant to this Section to any one or more of the respective Owners of any <br /> Bonds designated for redemption shall not affect the sufficiency of the proceedings for <br /> u1-63221.5 25 <br />
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