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<br />the time and at the redemption prices set forth in the <br />following schedule plus accrued interest to the redemption date: <br /> <br />. <br /> <br />Length of <br />Reset Period <br />(expressed in years) <br /> <br />Redemption Prices as <br />a Percentage of <br />Principal Amount <br /> <br />Less than the remaining <br />term on Bonds and <br />greater than 10 <br /> <br />After 7 years at 102%, <br />declining 1/2% every 6 <br />months to 100% <br /> <br />Less than or equal to <br />10 and greater than 7 <br /> <br />After 5 years at 101-1/2%, <br />declining 1/2% every 6 <br />months to 100% <br /> <br />Less than or equal to <br />7 and greater than 5 <br /> <br />After 3 years at 101%, <br />declining 1/2% every 6 <br />months to 100% <br /> <br />In the event that <br />remarketed for a term <br />subject to redemption <br />at a redemption price <br />plus accrued interest <br /> <br />the Term Bonds or Special Term Bonds are <br />less than five years, the Bonds shall be <br />on any Reset Date, in whole or in part, <br />equal to the principal amount thereof <br />to the redemption date. <br /> <br />. <br /> <br />(5) The Bonds are subject to mandatory <br />redemption as a whole (but not in part) on any date prior <br />to the expiration date of the Initial Letter of Credit, <br />upon receipt by the Fiscal Agent of written notice from the <br />Bank that (a) an event of default under the Reimbursement <br />Agreement has occurred and instructing the Fiscal Agent to <br />redeem all Bonds or (b) repayment of an Interest Payment <br />Draft (as said term is defined in the Reimbursement <br />Agreement) under the Initial Letter of Credit has not been <br />received by the Bank within six Business Days after such <br />drawing and instructing the Fiscal Agent to redeem all <br />Bonds. <br /> <br />. <br /> <br />(6) The Special Term Bonds are subject to <br />mandatory redemption as a whole or in part on December 15, <br />1986, December 15, 1987 and December 15, 1988 in the event <br />proceeds remaining in the Escrow Fund cannot be invested at <br />a rate equal to or in excess of the 7.5% per annum and on <br />December 15, 1990, if the Tax Revenues with respect to the <br />Bonds received or to be received by the Agency for the <br />1990/91 Fiscal Year are not equal to at least 1.20 times <br />the Maximum Annual Debt Service remaining on the Bonds then <br />Outstanding payable from moneys on deposit in the Escrow <br />Fund. <br /> <br />(7) The Term Bonds and the Special Term Bonds <br />are subject to mandatory redemption as a whole on <br />December 15, 2010 in the event that the Redevelopment Plan <br /> <br />12-02-85 <br />9553p/2281/01 <br /> <br />-16- <br />