AgdaPkt 2003-09-08 - Laserfiche WebLink

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9,A-2i THE BONDS Authority for Issuance The Bonds are bong Issued under the Indenture ano the provisions of the Redevelopment Law. On September 15, 2003, the Agency adopted a resolution authorizing the execution and delivery of the Indenture and the issuance and sale of the Bonds. The Bonds will be issued as current interest bonds (the "Current Interest Bonds) and capital appreciation bonds (the "Capital Appreciation Bonds "). The Bonds will be issued by the Agency in the aggregate principal amount of $ and will be dated their date of delivery (the "Closing Date "). The Bonds will be issued in fully registered form in the name of Cede & Co., as nominee for The Depository Trust Company, New York, New York ( "DTC "), as registered owner of all the Bonds. Principal (or Accreted Value, in the case of the Capital Appreciation Bonds) and interest are payable by the Trustee to DTC, which is obligated in turn to remit such principal and interest to DTC Participants for subsequent disbursement to Beneficial Owners of the Bonds, as described below. See "Book -Entry System" below. The Bonds will be issued in the denomination of $5,000 each or any integral multiple thereof. Curran Interest Bonds. The Current Interest Bonds will be issued in the original principal amount of E " and will bear interest at the rates per annum set forth on the cover page hereof payable semiannually on January 15 and July 15, commencing January 15, 2004 (the "Interest Payment Dates "), and will mature on July 15 in the years set forth on the cover page hereof. The Current Interest Bonds will bear interest (calculated on the basis of a 360 -day year comprised of twelve 30 -day months) from the Interest Payment Date next preceding the date of authentication thereof, unless (a) they are authenticated after January 1 or July 1 (each a "Record Date ") and on or before the following Interest Payment Date, in which event they will bear interest from such Interest Payment Date, or (b) they are authenticated on or before the first Record Date, in which event they will bear interest from their dated date; provided, however, that if, as of the date of authentication of any Current Interest Bond, interest thereon is in default, such Current Interest Bond will bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment thereon. Capital Appreciation Bonds The Capital Appreciation Bonds will be issued in the original principal amount of $ , will be dated as of the Closing Date and will be issued in fully registered form, without coupons, in denominations of $5,000 maturity amount or any integral multiple thereof. The Capital Appreciation Bonds will mature and be payable on July 15 in each of the years and in the maturity amounts set forth on the inside front cover, representing such original principal amount together with interest thereon which shall accrete and be compounded on each Interest Payment Date so as to produce a yield to maturity as set forth on the inside front cover. See "APPENDIX I - ACCRETED VALUE TABLE." Notwithstanding the foregoing, while the Bonds are held in the book -entry system of DTC, all such payments of principal, interest and premium, if any, will be made to Cede & Co. as the registered owner of the Bonds, for subsequent disbursement to Participant and beneficial owners. See "APPENDIX G - BOOK -ENTRY SYSTEM." Preliminary, subject to change. -6-