04-14-2021 Council Packet - Laserfiche WebLink

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27 Participants to whose account such Series 2021D Bonds are credited, which may or may not be the Beneficial Owners. The Participants will remain responsible for keeping account of their holdings on behalf of their customers. Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Redemption notices shall be sent to Cede & Co. If less than all of the Series 2021D Bonds are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such issue to be redeemed. Neither DTC nor Cede & Co. will consent or vote with respect to Series 2021D Bonds. Under its usual procedures, DTC mails an Omnibus Proxy to the Trustee as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts the Series 2021D Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy). Principal and interest payments on the Series 2021D Bonds will be made to DTC. DTC’s practice is to credit Direct Participants’ accounts on a payable date in accordance with their respective holdings shown on DTC’s records unless DTC has reason to believe that it will not receive payment on the payable date. Payments by Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer form or registered in “street name,” and will be the responsibility of such Participant and not of DTC, the Trustee, the Issuer or the Corporation, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of principal and interest to DTC is the responsibility of DTC, and the disbursement of such payment to the Beneficial Owners shall be the responsibility of Direct and Indirect Participants. DTC may discontinue providing its services as securities depository with respect to the Series 2021D Bonds at any time by giving reasonable notice to the Issuer or the Trustee. Under such circumstances, in the event that a successor securities depository is not obtained, Series 2021D Bonds are required to be printed and delivered. The Issuer at the direction of the Corporation may decide to discontinue use of the system of book-entry transfers through DTC (or a successor securities depository). In that event, Series 2021D Bonds will be printed and delivered. The information in this section concerning DTC and DTC’s book-entry system has been obtained from DTC. The Issuer, the Trustee, the Underwriter and the Corporation take no responsibility for the accuracy thereof. Redemption Prior to Maturity Optional Redemption.* The Series 2021D Bonds maturing after June 1, 2026, are subject to optional prior redemption, in whole or in part, and if in part in inverse order of maturity and by random selection within a maturity, and in integral multiples of [$25,000], at the direction of the Corporation, on June 1, 2026, and any business day thereafter at the following redemption price, plus accrued interest. Period During Which Redeemed Redemption Price June 1, 2026 through May 31, 2027 101 % June 1, 2027 and thereafter 100 % Mandatory Sinking Fund Redemption.* The Series 2021D Bonds are subject to mandatory redemption through operation of the Sinking Fund provided for in the Indenture, at a redemption price equal to par plus accrued interest, such Series 2021D Bonds of the applicable maturity to be selected by random selection by the Trustee, on June 1 and December 1 of the years and in the amounts, respectively: [Sinking fund schedule to come.] From such cash Sinking Fund payments, to the maximum extent possible, the Trustee shall redeem at 100% of the principal amount thereof plus accrued interest to the Sinking Fund redemption date the Series 2021D Bonds. At its option, to be exercised on or before the forty-fifth day next preceding any such Sinking Fund redemption date, the