1980-076 CRA - Laserfiche WebLink

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(B) The Term Bonds shall be subject to redemption in part by lot by operation of Sinking Fund Installments as provided in the Resolution, upon notice as provided in Article IV of the Resolution, on July 1, 1995, and on each July 1 thereafter to and including July 1, 2010, with respect to the Terms Bonds maturing on July 1, 201l, all as herein provided, at the Redemption Price equal to the principal amount of each Bond or portion thereof to be redeemed, together with accrued interest to the date of redemption, without premium. Unless none of the Term Bonds shall then be Outstanding, the Agency shall be requ ired to pay on July 1 of each year set forth in the following schedule, for the retirement of the Term Bonds, the amount set opposite such year of said schedule, and the amount so to be paid on each such date is hereby established as and shall constitute a Sinking Fund Installment for retirement of the Term Bonds; provided, however, that, if any Term Bonds have been purchased or redeemed from moneys in the Prior Redemption Fund, the amount of each future Sinking Fund Installment shown will be reduced on a pro rata basis, in $5,000 increments, such that the total amount of such reduction shall equal the amount of each such purchase and redemption. The schedule with respect to the Term 80nds maturing on July 1, 2011, is as follows: , . ~ ~ Year ~ 2001 $ 385,000 2007 $ 670,000 2002 420,000 2008 740,000 ' 2003 465,000 2009 810,000 2004 5\0,000 2010 890,000 . 2005 560,000 2011 (Maturity) 975,000 2006 610,000 6 . I