Res12 15237 - Laserfiche WebLink

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12/03/2012 however, that if, as of the date of authentication of a Bond, interest is in default thereon, such Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment thereon. Interest with respect to each Bond will be calculated on the basis of a 360 -day year consisting of twelve 30 -day months. The Bonds will be payable both as to principal and interest, and as to any premium upon the redemption thereof, in lawful money of the United States of America. Subject to the book -entry only provisions of the Fiscal Agent Agreement, interest on the Bonds is payable on the Interest Payment Dates by check mailed via first class mail on the Interest Payment Date by the Fiscal Agent to the respective Owners thereof as of the preceding Record. Date at their addresses as they appear in the registration books of the Fiscal Agent or, upon the written request from any Owner of Bonds aggregating at least $1,000,000 in principal amount received on or prior to the fifteenth day of the month preceding an applicable Interest Payment Date, by wire in Federal Reserve funds to an account within the United States, on the Interest Payment Date with regard to which such payment is made. The principal of the Bonds and any premium due upon the redemption thereof will be payable upon presentation and surrender of the Bonds at the Principal Office of the Fiscal Agent. The Bonds will be issued in book -entry form only and, when delivered, will be registered in the name of Cede & Co., as nominee of DTC, which will act as securities depository for the Bonds. Individual purchases of the Bonds will be made in book -entry form only. Purchasers of the Bonds will not receive physical certificates representing their ownership interests in the Bonds purchased. Principal and interest payments represented by the Bonds are payable directly to DTC by the Fiscal Agent. Upon receipt of payments of principal and interest, DTC will in turn distribute such payments to the beneficial owners of the Bonds. See Appendix F— "DTC and the Book -Entry Only System." So long as the Bonds are registered in the name of Cede & Co., as nominee of DTC, references in this Official Statement to the owners shall mean Cede & Co., and shall not mean the purchasers or beneficial owners of the Bands. Redemption Optional Redemption. The Bonds maturing on September 1, 20__ and on each September 1 thereafter are subject to optional redemption prior to their stated maturities from any source of available funds, on any date occurring on and after September 1, 20__, in whole or in part, at a redemption price equal to the principal amount of the Bonds to be redeemed together with accrued interest thereon to the date fixed for redemption, without premium. Mandatory Redemption From Special Tux Prepayments. The Bonds are subject to mandatory redemption prior to their stated maturities on any Interest Payment Date from the proceeds of Special Tax Prepayments and corresponding transfers of funds from the Reserve Fund (as described below under "SECURITY FOR THE BONDS --Reserve Fund"), as a whole or in part, pro rata among maturities and by lot within a maturity, at the following redemption prices, expressed as a percentage of the principal amount of the Bonds to be redeemed, plus accrued interest thereon to the redemption date. Redemption Dates March 1, 2013 to and including August 31, 2020 September 1, 2020 to and including August 1, 2021 September 1, 2021 to and including August 1, 2022 September 1, 2022 and any date thereafter -7- 15 Redemption Prices 103% 102 101 100 RESO. # 15237 MUFF # 505