04-14-2021 Council Packet - Laserfiche WebLink

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13068487v2 17 the Indenture to effect redemption of all or part of the then outstanding Bonds, as may be specified by the Corporation, on the earliest redemption date on which such redemption may be made under such applicable provisions, provided that the Corporation shall have made available funds in adequate amount therefor or shall have made arrangements satisfactory to the Issuer therefor. Except as herein otherwise provided, Bonds shall be called for redemption only upon the direction of the Corporation. Section 4.07 Tax-Exempt Status of Series 2021D Bonds. It is the intention of the parties hereto that the interest paid on the Series 2021D Bonds will not be included in the gross income of the recipients of said interest by reason of Section 103 and related Sections of the Internal Revenue Code. In order to confirm and carry out such intention: (a) The Corporation shall (i) provide such Certificates of the Authorized Corporation Representative, opinions of Bond Counsel, and other evidence as may be necessary or requested by the Issuer or the Trustee to establish the tax-exempt status of interest on the Series 2021D Bonds under Section 103 and related Sections of the Internal Revenue Code, and (ii) file such information and statements, acting alone or with the Issuer, with the Internal Revenue Service, as may be required from the Corporation or the Issuer to establish or preserve such tax-exempt status or as may be required by Section 103 and related Sections of the Internal Revenue Code, including Section 149(e) of the Code, and all regulations thereunder and related provisions of law or regulation. (b) If there shall occur a Determination of Taxability, the Corporation shall have the obligation to, and hereby covenants and agrees that it shall forthwith repay the Loan and cause the Series 2021D Bonds to be redeemed on the next Business Day occurring at least 45 days following notice to the Corporation of the Determination of Taxability and the Issuer agrees to call the Series 2021D Bonds for redemption on such date. Any redemption required under this Section shall be effected upon the following terms and conditions: (i) Within ten days after notice to the Corporation of the Determination of Taxability the Corporation shall give written notice of the Determination of Taxability and of its intention to redeem the outstanding Series 2021D Bonds to the Trustee, stating the date of redemption and the Corporation shall make arrangements satisfactory to the Trustee for the giving of notice required for redemption of all of the outstanding Series 2021D Bonds and for the transmittal of funds needed for such redemption in advance of that date. (ii) The aggregate redemption price payable by the Corporation shall be an amount which, when added to all amounts then held under the Indenture and available for the purpose, will be equal to the principal amount of all then outstanding Series 2021D Bonds, plus accrued interest thereon to the redemption date. (iii) The Corporation shall also pay an amount equal to the Trustee’s and any paying agent’s fees under the Indenture, accrued and to accrue until final