1983-08 CRA - Laserfiche WebLink

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, ~ . . . . . Interest on the Bonds, or parts thereof, as the case may be, called for redemption shall cease to accrue and the coupons for interest maturing subsequent to the redemption date shall be void. The Bonds, or parts thereof redeemed, shall cease to be entitled to any lien, benefit or security under this Resolution, and the Holders of the Bonds shall have no rights except to receive payment of the redemption price, and, in the case of partial redemption of Fully Registered Bonds, also to receive a new Bond or Bonds for the unredeemed balance as provided above. All unpaid interest installments represented by coupons which shall have matured on or prior to the redemption date designated in the notice shall continue to be payable to the respective Holders of the coupons but without interest thereon. G. Purchase of Bonds. The Fiscal Agent, on behalf of the Agency, is hereby authorized to purchase Bonds on the open market at any time at a price not to exceed the principal amount of the Bonds plus the applicable premium and accrued interest, if any, to the date of purchase plus brokerage fees, if any. Section 12. Funds. There is hereby continued with the Treasurer a special trust fund created pursuant to Resolution 78-10 of the Agency called the "City of Santa Ana Redevelopment Project Area, Redevelopment Fund" (hereinafter sometimes called the "Redevelopment Fund"). There is hereby continued with the Fiscal Agent a special trust fund created pursuant to Resolution 78-10 of the Agency called the "City of Santa Ana Redevelopment Project Area, Special Fund" with special trust accounts contained therein known as the "Interest Account", "Principal Account", and the "Reserve Account." There is also created a special trust fund with the Fiscal Agent known as the "Refunded Bond Fund." So long as any of the Bonds, or any interest on them, remain unpaid, the moneys in the foregoing Funds shall be used for no purposes other than those required or permitted by this Resolution and the Law. Section 13. Sale of Bonds; Disposition of Bond Proceeds; Redevelopment Fund. The Agency may provide by resolution for the sale of the Bonds in the manner provided by the Law. A. Upon the delivery of the Bonds to the purchasers, the Fiscal Agent, on behalf of the Agency, shall transfer any funds held in the City of Santa Ana Redevelopment Project Area Special Fund created pursuant to Resolution 78-10 of the Agency, including any accounts therein, to the Refunded Bond Fund, 02-22-83 4141P/2306/00 SA -13- ft~30