1983-008 - Laserfiche WebLink

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, , ~ I I ! \,... ARTI C LE II TERMS AND FORM OF BONDS Section 2.01. Resolution Constitutes Contract. The General Resolution and this Resolution shall constitute a continuing contract of the Authority with the Owners of the Bonds from time to time Outstanding hereunder in order to secure the full payment of all principal of, redemption premium, if any, and interest on all Bonds, subject in each case to the covenants, provisions and conditions of this Resolution and the General Resolution. Section 2.02. Authorization and Terms of Bonds. The Authority hereby authori zes the issuance, in accordance wi th thi s Reso 1 ut ion, of bonds of the Authority in the aggregate principal amount of $2,280,000, to be designated the "Industrial Development Authority of the City of Santa Ana Industrial Revenue Bonds (Fairview Investors Project)". The Bonds shall be issued in fully registered form without coupons in denominations of not less than $250,000 each, or such larger denominations divisible by $5,000 as may be specified by the written certificate of the Authority Representative at the time of del ivery of the Bonds to the Initial Purchasers thereof; provided, however, that Bonds in denominations of less than $250,000 may be issued by the Authority wi th the pri or wri tten approva 1 of the California Industrial Development Financing Advisory Commission; and provided, further, that no Bond shall have principal maturing in more than one year. The Bonds shall each be assigned the letter designation "R" and shall be numbered from "I" upwards in consecutive numerical order. The Bonds shall mature and become payable on January I, 1994, and shall bear interest at the rate of ten percent (10.00%) per annum. Interest on the Bonds shall be payable on July 1, 1984, and thereafter semiannually on January 1 and July 1 in each year until payment of the principal sum in full. The Bonds shall be subject to redemption prior to maturity as prescribed in Article III of this Resolution. Principal, redemption premium, if any, and interest on any Bond shall be paid to the person whose name appears on the Bond registration records of the Servicing Agent as the Owner thereof as of the Regular Record Date immediately preceding each Payment Date, such principal and interest to be paid by check or draft of the Servicing Agent mailed to the Owner at his address as its appears on such regi strati on records or at such address as he may have filed with the Servicing Agent for that purpose, except that principal payable on redemption may be paid upon presentation and surrender of the Bonds as described in Section 3.01 hereof. The principal of, redemption premium, if any, and interest on the Bonds shall be payable in lawful money of the United States of America. Each Bond shall be dated as of the date of its authentication (except that each Bond delivered to an Initial Purchaser shall be dated as of the Delivery Date), and shall bear interest from the Payment Date next preceding the date thereof, unless (i) it is dated as of a Payment Oate, in which event it shall bear interest from the date thereof; or (ii) unless it is dated after a Regular Record Date and before the following Payment Date, in which event it shall bear interest 4