AgdaPkt 2003-07-28 - Laserfiche WebLink

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FA- o Purchase In Lieu of Redemption If during the Fiscal Year immediately preceding one of the redemption dates specified in the tables above the District purchases 2003 Bonds of such maturities, at least 45 days prior to the redemption date the District is required to notify the Fiscal Agent as to the principal amount purchased and the amount of 2003 Bonds so purchased shall be credited at the time of purchase, to the extent of the full principal amount thereof, to reduce such upcoming Sinking Fund Payment for the applicable maturity of the 2003 Bonds. All 2003 Bonds purchased pursuant to this clause will be cancelled pursuant to the Fiscal Agent Agreement. Selection of 2003 "Bonds for Redemption. If less than all of the 2003 Bonds Outstanding are to be redeemed, the portion of any 2003 Bond of a denomination of more than $5,000 to be redeemed shall be in the principal amount of $5,000 or an integral multiple thereof. In selecting portions of such 2003 Bonds for redemption, the Fiscal Agent shall treat such 2003 Bonds as representing that number of 2003 Bonds of $5,000 denominations which is obtained by dividing the principal amount of such 2003 Bonds to be redeemed in part by $5,000. Notice of Redemption When 2003 Bonds are due for redemption, the Fiscal Agent is required to give notice, in the name of the District, of the redemption of such 2003 Bonds; provided, however, that a notice of a redemption to be made from other than from Sinking Fund Payments shall be conditioned on there being on deposit on the redemption date sufficient money to pay the redemption price of the 2003 Bonds to be redeemed. Such notice of redemption must (a) specify the CUSIP numbers (if any), the 2003 Bond numbers and the maturity date or dates of the 2003 Bonds selected for redemption, except that where all of the 2003 Bonds are subject to redemption, or all the 2003 Bonds of one maturity are to be redeemed, the 2003 Bond numbers of such issue need not be specified; (b) state the date fixed for redemption and surrender of the 2003 Bonds to be redeemed; (c) state the redemption price; (d) state the place or places where the 2003 Bonds are to be redeemed; (e) in the case of 2003 Bonds to be redeemed only in part, state the portion of such 2003 Bond which is to be redeemed; (f) state the date of issue of the 2003 Bonds as originally issued; (p) state the rate of interest borne by each 2003 Bond being redeemed; and (h) state any other descriptive information needed to identify accurately the 2003 Bonds being redeemed as shall be specified by the Fiscal Agent. Such notice shall further state that on the date fixed for redemption, there shall become due and payable on each 2003 Bond or portion thereof called for redemption, the principal thereof, together with any premium, and interest accrued to the redemption date, and that from and after such date, interest thereon shall cease to accrue and be payable. At least 30 days but no more than 60 days prior to the redemption date, the Fiscal Agent shall mail a copy of such notice, by first class mail, postage prepaid, to the respective Owners thereof at their addresses appearing on the 2003 Bond Register, to the original purchaser of any 2003 Bonds. The actual receipt by the Owner of any 2003 Bond or the original purchaser of any 2003 Bond of notice of such redemption shall not be a condition precedent to redemption, and neither the failure to receive nor any defect in such notice shall affect the validity of the proceedings for the redemption of such 2003 Bonds, or the cessation of interest on the redemption date. A certificate by the Fiscal Agent that notice of such redemption has been given as herein provided shall be conclusive as against all parties and the Owner shall not be entitled to show that he or she failed to receive notice of such redemption Partial Redemption. Upon surrender of any 2003 Bond to be redeemed in part only, the District shall execute and the Fiscal Agent shall authenticate and deliver to the 2003 Bondowner, at the expense of the District, a new 2003 Bond or 2003 Bonds of authorized denominations equal in aggregate principal amount to the unredeemed portion of the 2003 Bonds surrendered, with the same interest rate and the same maturity. Effect of Redemption. When notice of redemption has been duly given, as provided in the Fiscal Agent Agreement, and the amount necessary for the redemption has been made available for that purpose and is available therefor on the date fixed for such redemption, (a) the 2003 Bonds or portions thereof, designated for redemption shall, on the date fixed for redemption, become due and payable at -9-