Laserfiche WebLink
Subject to the Letter of Representations, the principal of and redemption premiums, <br />if any, on the 2024 Bonds shall be payable in lawful money of the United States of America at the <br />Corporate Trust Office of the Trustee upon presentation and surrender of such 2024 Bonds. <br />(b) (i) The 2024 Bonds shall bear interest at the rates set forth in Section <br />3.01(a) above, payable on the Interest Payment Dates in each year, commencing on March 1, 2025. <br />Each 2024 Bond shall bear interest from the Interest Payment Date next preceding the date of <br />authentication thereof, unless such date of authentication is during the period commencing after a <br />Record Date through and including the next succeeding Interest Payment Date, in which event it <br />shall bear interest from such Interest Payment Date, or unless such date of authentication is on or <br />before the first Record Date, in which event it shall bear interest from its date of delivery; provided, <br />however, that if on the date of authentication of any 2024 Bonds, interest is then in default on the <br />Outstanding 2024 Bonds, such 2024 Bonds shall bear interest from the Interest Payment Date to <br />which interest has previously been paid or made available for payment on the Outstanding 2024 <br />Bonds. <br />(ii) Payment of interest on the 2024 Bonds due on or before the maturity <br />or prior redemption thereof shall be made to the person in whose name such 2024 Bonds is <br />registered, as of the Record Date preceding the applicable Interest Payment Date, on the <br />registration books kept by the Trustee pursuant to Section 2.05 hereof, such interest to be paid by <br />check mailed by first class mail on such Interest Payment Date to such Owner at his address as it <br />appears on such books; provided, that in the event the ownership of such 2024 Bonds is no longer <br />maintained in book -entry form by the Depository, such payment shall be made by wire transfer to <br />any Owner of at least $1,000,000 in aggregate principal amount of 2024 Bonds, in immediately <br />available funds to an account in the United States designated in writing by such Owner to the <br />Trustee prior to the applicable Record Date. Interest on the 2024 Bonds shall be payable in lawful <br />money of the United States of America and shall be calculated on the basis of a 360 day year <br />consisting of twelve 30 day months. <br />SECTION 3.02. Redemption of 2024 Bonds. <br />(a) Optional Redemption. 2024 Bonds maturing on or after September 1, <br />shall be subject to redemption, at the option of the Authority, upon at least 45 days prior <br />written notice to the Trustee specifying the date and amount of such redemption, in whole or in <br />part, on any date on or after September 1, (by lot within any maturity and among maturities <br />as specified by the Authority) at a redemption price equal to 100% of the principal amount of <br />Bonds to be redeemed together with accrued interest to the date of redemption without premium. <br />(b) Mandatory Sinking Fund Redemption. <br />The 2024 Bonds maturing on September 1, 20_ are subject to mandatory sinking fund <br />redemption prior to maturity, in part, on September 1, 20_, and on each September 1 thereafter <br />to maturity by lot, from sinking fund payments at a redemption price equal to the principal amount <br />of such 2024 Bonds to be redeemed, together with accrued interest to the date of redemption, <br />without premium, as follows: <br />18 <br />55394.00068\42092121.3 <br />