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1985-56 CRA
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1985-56 CRA
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Last modified
1/3/2012 12:22:02 PM
Creation date
3/3/2005 8:30:49 AM
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City Clerk
Doc Type
Resolution
Doc #
CRA 1985-56
Date
12/3/1985
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<br />. . <br /> <br />. <br /> <br />. <br /> <br />. <br /> <br />The Term Bonds and Special Term Bonds are subject to <br />redemption on each Reset Date in the event that the Remarketing <br />Agent is unable to remarket the Bonds in accordance with the <br />requirements of the Resolution. The Bonds shall be redeemed at <br />a redemption price for each redeemed Bond equal to the <br />principal amount thereof, plus accrued interest to the <br />redemption date, without premium. <br /> <br />The outstanding Term Bonds and Special Term Bonds <br />shall be called before maturity and redeemed from Minimum <br />Sinking Account Payments on December 15, 1991, and on each <br />December 15 thereafter prior to maturity in accordance with the <br />Resolution. <br /> <br />The outstanding Term Bonds and Special Term Bonds may <br />be called before maturity and redeemed, at the option of the <br />Agency, if the Bonds are remarketed for a term extending to the <br />maturity date of the Bonds, in whole from the proceeds of <br />refunding bonds and other available funds, or in whole or in <br />part from monies in the Redemption Fund, as defined in the <br />Resolutions, on December 15,2000, or on any interest payment <br />date thereafter prior to maturity, in inverse order of maturity <br />and by lot within a maturity. Bonds so called for redemption <br />shall be redeemed at a redemption price for each redeJrned Bond <br />equal to the principal amount thereof, plus accrued interest to <br />the redemption date, and the following premium (expressed as a <br />percentage of principal amount) if redeemed on the following <br />redemption dates: <br /> <br />Redemption Dates <br /> <br />Redemption <br />Premium <br /> <br />December 15, 2000 and June 15, 2001 .......... <br />December 15, 2001 and June 15, 2002 .......... <br />December 15, 2002 and June 15, 2003 .......... <br />December 15, 2003 and June 15, 2004 .......... <br />December 15, 2004 and thereafter ............. <br /> <br />2 % <br />1 1/2 <br />1 <br /> <br />1/2 <br /> <br />0 <br /> <br />If the Term Bonds and Special Term Bonds are <br />remarketed for a term less than the term remaining to the <br />maturity date of the Bonds but not less than five years, such <br />Bonds may be called and redeemed prior to maturity at the <br />option of the Agency, in whole from the proceeds of refunding <br />bonds and other available funds or in whole or in part from any <br />other source of funds, at the time and at the redemption prices <br />set forth in the following schedule plus accrued interest to <br />the redemption date: <br /> <br />12-02-85 <br />9564p/228l/0l <br /> <br />A-3 <br />
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