2014-048 - Execution and Delivery By the City of a Master Installment Purchase Agreement

Home Browse Search

and give the Depository notice of such record date not less than 15 calendar days in advance of such record date to the extent possible. Notice to the Depository shall be given only when DTC is the sole Owner of the Bonds. If the Authority determines to invite Owners of Bonds to tender Bonds, and will pay for the same with funds other than moneys in a Sinking Account as hereinafter defined, the Authority shall give the Trustee not less than 14 days' advance notice of such invitation to tender, together with a copy of the tender notice to be distributed to the Owners. Such notice shall specify the terms of the tender and the publication date of notice of such tender. The Trustee shall send such notice to DTC by a secure means (e.g., legible facsimile transmission, registered or certified mail, overnight express delivery) in a timely manner designed to assure that such notice is in DTC's possession no later than the close of business on the Business Day before the date for mailing of such notice. (The Trustee shall have a method to verify subsequently the use of such means and timeliness of the notice.) The Trustee shall credit any Bonds so tendered against such of the mandatory sinking account payments of the maturity tendered as shall be designated by the Authority. SECTION 2.10. Procedure for Issuance of 2014 Bonds. The Authority may, at any time, execute the 2014 Bonds for issuance hereunder and deliver them to the Trustee, and thereupon the 2014 Bonds shall be authenticated and delivered by the Trustee to the purchasers thereof upon the Written Request of the Authority and upon receipt of payment therefor from the purchasers thereof. ARTICLE III TERMS OF 2014 BONDS SECTION 3.01. Terms of 2014 Bonds. (a) (a) The 2014 Bonds shall be designated "Santa Ana Financing Authority Water Revenue Refunding Bonds, Series 2014 (Payable Solely from Installment Payments Secured by Water System Net Revenues)" and shall be in the aggregate principal amount of $ . The 2014 Bonds shall be dated their date of delivery, shall be issued only in fully registered form in Authorized Denominations (not exceeding the principal amount of 2014 Bonds maturing at any one time), and shall mature on the dates and in the principal amounts and shall bear interest at the rates as set forth in the following schedule: Maturity Date Principal Interest (September 1) Amount Rate Subject to the Letter of Representations, the principal of and redemption premiums, if any, on the 2014 Bonds shall be payable in lawful money of the United States of 55394.00011 \8754149.4 17