AgdaPkt 2005-01-24 - Laserfiche WebLink

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. a resolution adopted by the Governing Board of the Authority on January -' 2005, and . a resolution adopted by the City Council on January _,2005. Bond Terms Dated Date and Maturities. The Bonds will be dated their date of delivery. Subject to the redemption provisions outlined below, the Bonds will mature on the dates and in the amounts set forth on the inside cover page of this Official Statement. Interest and Principal. Each Bond will bear interest at the rates set forth on the cover page of this Official Statement, payable semiannually on February 1 and August 1 of each year, beginning on August 1, 2005 (each, an "Interest Payment Date"). The Bonds will be dated as of their original date of delivery (the "Closing Date"), and bear interest from the Interest Payment Date immediately preceding the date of authentication thereof by the Trustee, unless such date of authentication is on or after the 15th day of the calendar month prior to an Interest Payment Date, in which case they shall bear interest from such Interest Payment Date, or unless such date of authentication is on or before July 15, 2005, in which case they shall bear interest from the Closing Date DTC and Book-Entry Only System. DTC will act as securities depository for the Bonds. The Bonds will be issued as fully-registered securities registered initially in the name of Cede & Co. (DTC's partnership nominee). So long as Cede & Co. is the registered owner of the Bonds, as nominee of DTC, references in this Official Statement to the "Owners" will mean Cede & Co., and will not mean the Beneficial Owners of the Bonds. See APPENDIX E - "DTC AND lHE BOOK-ENTRY ONLY SYSTEM." Method of Payment. Principal, premium, if any, and interest on the Bonds are payable directly to DTC by the Trustee in lawful money of the United States of America. Upon receipt of payments of principal, premium or interest, DTC is to remit such principal, premium or interest to the "DTC Participants" (as defined in APPENDIX E) for subsequent disbursement to the Beneficial Owners of the Bonds. See APPENDIX E - "DTC AND THE BOOK-ENTRY ONLY SYSTEM." Redemption* Optional Redemption. The Bonds maturing on or before February 1, 20_, are not subject to optional redemption prior to their respective stated maturities. The Bonds maturing on or after February 1 , 20 -' are subject to optional redemption on any date on or after February 1, 20_, in whole or in part, from prepayments of the Installment Payments made at the option of the City pursuant to the Installment Purchase Contract, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest to the redemption date, without a . premium. Extraordinary Casualty Redemption. The Bonds are subject to redemption, in whole or in part on any date, from the Net Proceeds of insurance or condemnation with respect to the Enterprise, which Net Proceeds are deposited in the Payment Fund (as established under the Indenture) and credited towards the prepayment of the I nstallment Payments made by the City pursuant to the Installment Purchase Contract, at a redemption price equal to the principal amount * Preliminary, subject to change. 5