04-14-2021 Council Packet - Laserfiche WebLink

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13068670v2 24 Series 2021D Bonds Due June 1, 2046 Sinking Fund Redemption Dates Amount December 1, 2041 $ June 1, 2042 December 1, 2042 June 1, 2043 December 1, 2043 June 1, 2044 December 1, 2044 June 1, 2045 December 1, 2045 June 1, 2046 (maturity) 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 Corporation may (i) deliver to the Trustee for cancellation such Series 2021D Bonds in any aggregate principal amount desired, or (ii) receive a credit in respect of such Sinking Fund redemption obligation for any such Series 2021D Bonds which prior to said date have been purchased or redeemed (otherwise than at the stated maturity thereof or through the operation of such Sinking Fund) and cancelled by the Trustee and not theretofore applied as a credit against such Sinking Fund redemption obligation. Each such Series 2021D Bond so delivered or previously purchased or redeemed shall be credited by the Trustee at 100% of the principal amount thereof on the obligation of the Corporation on such Sinking Fund redemption date and any excess amount shall be credited on future Sinking Fund redemption obligations in chronological order, and the principal amount of such Series 2021D Bonds to be redeemed by operation of the Sinking Fund shall be accordingly reduced. If the Corporation elects to exercise its option pursuant to clauses (i) or (ii) herein, the Corporation shall on or before the forty-fifth day next preceding each such Sinking Fund redemption date furnish the Trustee with a Certificate of the Authorized Corporation Representative indicating to what extent the provisions of clauses (i) and (ii) of this Section are to be availed of with respect to such Sinking Fund payment. Notwithstanding any other provision hereof or of the Loan Agreement, the Sinking Fund may be established and maintained by the Trustee as a separate subaccount of the Bond Fund. [The balance of this page is intentionally left blank.]