Part 2 - Laserfiche WebLink

Home Browse Search

The Bonds shall be limited obligations of thk Authority and shall be payable solely from the Revenues and amounts on deposit in tu' s and accounts established under the Indenture (other than amounts on deposit i! ate Fund). The Bonds do not constitute a debt or liability of the City, t1- r ' .- `'s California, or any of its political subdivisions, and neither the faith and (,e0t'. the City, the State of California, nor any of its political subdivisions are pledged to t - payment of the principal of or interest on the Bonds. Reference is hereby made to the Indenture and any and all amendments thereof and supplements thereto for a description of the terms under which the Bonds are issued, the provisions with regard to the nature and extent of the Revenues, and the rights of the registered owners of the Bonds. All of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the registered owner of this Bond, to all the provisions of which the registered owner of this Bond, by acceptance hereof, agrees and consents. Each registered owner hereof shall have recourse to all of the provisions of the Indenture and shall be bound by all of the terms and conditions thereof. The Authority has agreed and covenanted that, for the payment of the interest on, the principal of and redemption premium, if any, on this Bond and all other Bonds of this issue authorized by the Indenture when due, there has been created and will be maintained by the Trustee a special fund into which all Revenues (other than deposits to the Rebate Fund created by the Indenture) shall be deposited, and the Authority has allocated such Revenues solely to the payment of the interest on and principal of and redemption premiums, if any, on the Bonds, and the Authority will pay promptly when due the interest on and the principal of and redemption premium, if any, on this Bonds and all other Bonds of this issue authorized by the Indenture out of said special fund, all in accordance with the terms and provisions set forth in the Indenture. The Bonds maturing on July 1 in the years 2005 through and including 2009, shall be subject to redemption, at the option of the Authority, on or after July 1, 2004 in whole at any time or in part (by lot within any maturity), on any interest payment date, at the following redemption prices, plus accrued interest to the date fixed for redemption: Redemption Price Redemption Period (percentage of (dates inclusive) principal amount) July 1, 2004 to June 30, 2005 102% July 1, 2005 to June 30, 2006 101% July 1, 2006 and thereafter 100% • The Bonds are also subject to redemption prior to their respective maturity dates, in authorized denominations, on any date, as a whole or in part, from net insurance proceeds or condemnation awards, upon the terms and conditions of, and as provided in, the LA1-70347.1 3