1984-17 CRA - Laserfiche WebLink

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. . . payment or redemption of Bonds not theretofore surrendered for such payment or redemption. Provision shall be made by the Agency, satisfactory to the Fiscal Agent, for the mailing of a notice to the Owners of such Bonds that such moneys are so available for such payment. Section 4. Description of Bonds. The Bonds shall be in a principal amount of Twenty Million Dollars ($20,000,000) and shall be designated "CITY OF SANTA ANA COMMUNITY REDEVELOPMENT AGENCY, SOUTH MAIN STREET REDEVELOPMEN¡ PROJECT TAX ALLOCATION BONDS, 1984." The Bonds shall be initially issued in the form of fully registered bonds in denominations of $5,000 each or any whole multiple thereof. The Bonds shall be serial and term bonds and shall mature in the amounts and on the dates set forth in a supplemental resolution of the Agency. Section 5. Interest. The Bonds shall bear interest at a rate or rates to be hereafter fixed by resolution, but not to exceed twelve percent (12%) per annum payable on the dates set forth in a supplemental resolution. Each Bond shall bear interest until its principal sum has been paid; provided, however, that if funds are available for the payment thereof in full accordance with the terms of this Resolution, such Bond shall then cease to bear interest. The Bonds shall be numbered by the Fiscal Agent as the Fiscal Agent shall determine and shall be dated as of the date of their authentication, except that Bonds issued upon exchanges and transfers of other Bonds shall be dated so that no gain or loss of interest shall result from the exchange or transfer, and Bonds issued before the first Regular Record Date shall be dated as of the date set forth in a supplemental resolution hereto. Each Bond shall bear interest from the interest payment date next preceding the date thereof unless (i) it is dated as of an interest payment date, in which event it shall bear interest from that interest payment date, or (ii) it is dated after a Regular Record Date and before the following interest payment date, and if the Agency shall not default in the payment of interest due on such interest payment date, in whiëh event it shall bear interest from such interest payment date, or (iii) it is dated prior to the first regular record date, in which event it shall bear interest from the date of the Bonds. Interest on Bonds shall be paid by the Fiscal Agent (out of the appropriate funds) by check or draft mailed on the interest payment date to the registered owner as hisjher name and address appear on the register kept by the ,Fiscal Agent at the close of business on the Regular Record Date preceding the interest payment date. Section 6. Place of Payment. The Bonds and any premiums upon the redemption thereof prior to maturity shall be payable 0715p/228lj04 -6-