04-14-2021 Council Packet - Laserfiche WebLink

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13068670v2 A-3 June 1, 2026 through May 31, 2027 101% June 1, 2027 and thereafter 100% The Bonds of this series are also subject to extraordinary redemption, at the direction of the Corporation, on any interest payment date in whole, but not in part, in certain events of damage to or destruction or condemnation of the Project Facilities, or change of law, as provided in Sections 4.06, 5.10 and 5.11 of the Loan Agreement, at a redemption price equal to par plus accrued interest. The Bonds are subject to mandatory redemption through application of the Sinking Fund provided for in the Indenture, from Loan Repayments to be made by the Corporation, at a redemption price equal to par plus accrued interest, such Bonds to be selected by lot by the Trustee, on June 1 and December 1 of the years and in the amounts, respectively, as is set forth in the Indenture. The Bonds of this series are also subject to mandatory redemption in the event of a Determination of Taxability, as defined in the Indenture, that interest upon the Bonds is includible in gross income for purposes of federal income taxation. In the event of a Determination of Taxability, the Corporation is obligated to cause each of the Bonds of this series to be redeemed at a redemption price equal to par, plus accrued interest, plus a premium of 3% of the principal amount being redeemed. Notice of any such redemption shall be given to the registered owner of each such Bond by first class mail, addressed to such owner at its registered address, not earlier than sixty (60) days nor later than thirty (30) days prior to the date fixed for redemption and shall be published as may be required by law. Prior to the date fixed for redemption, funds shall be deposited with the Trustee sufficient to pay the Bonds called and accrued interest thereon, plus any premium required. Upon the happening of the above conditions, Bonds thus called shall not bear interest after the call date and, except for the purpose of payment, from the funds so deposited, shall no longer be protected by the Indenture. This Bond is transferable, as provided in the Indenture, only upon the registration records kept at the office of the Trustee by the registered owner hereof in person or by his duly authorized attorney, upon surrender of this Bond for transfer at the office of the Trustee, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to the Trustee duly executed by the registered owner hereof or his duly authorized attorney, and, upon payment of any tax, fee or other governmental charge required to be paid with respect to such transfer, one or more fully registered Bonds of this series of the same principal amount and interest rate will be issued to the designated transferee or transferees. The Bonds of this series are issuable only as fully registered bonds without coupons in denominations of $25,000 or any integral multiple [thereof] [$5,000] not exceeding the principal amount maturing in any year. As provided in the Indenture and subject to certain limitations therein set forth, the Bonds of this series are exchangeable for a like aggregate principal amount of Bonds of this series of a different authorized denomination, as requested by the registered owner or his duly authorized attorney upon surrender thereof to the Trustee.