AgdaPkt 2005-01-24 - Laserfiche WebLink

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of the Bonds to be redeemed, together with accrued interest to the date fixed for redemption, without premium. Mandatory Sinking Fund Redemption. The Bonds maturing February 1, 2°- (the "Term Bonds") are subject to mandatory sinking fund redemption in part, by lot, commencing on February 1,20_, from mandatory sinking fund payments set aside in the Payment Account, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, in the aggregate respective principal amounts and on the dates set forth below: Sinking Fund Redemption Date {February --D Principal Amou nt To Be Redeemed If some but not all of such Bonds have been redeemed pursuant to optional redemption or purchased in lieu of redemption (as described following), the total amount of all future sinking fund payments shall be reduced by the aggregate principal amount of such Bonds so redeemed, to be allocated among such sinking fund payments on a pro rata basis as determined by the Authority. Purchase In Lieu of Redemption. In lieu, or partially in lieu, of mandatory sinking fund redemption of the Term Bonds, moneys of the Authority may be used to purchase Outstanding Bonds, in the manner provided in the Indenture. Purchases of Outstanding Bonds may be made by the Authority prior to the selection of Bonds for redemption by the Trustee, at public or private sale as and when and at such prices as the Authority may in its discretion determine but only at prices (including brokerage or other expenses) of not more than par plus applicable accrued interest and redemption premiums, and any accrued interest payable upon the purchase of Bonds may be paid from the amount in the Payment Fund for payment of interest on the following I nterest Payment Date. Selection of Bonds for Redemption. In the event that part, but not all, of the Bonds are to be redeemed (except for mandatory sinking fund redemption), the Bonds to be redeemed will be selected by the Trustee pro rata among maturities (as nearly as practicable) and by lot within a maturity; provided, however, that the Bonds may be redeemed by any maturity or maturities selected by the City to correspond with Installment Payments prepaid by the City, and by lot within a maturity. In the event of a redemption for which the Trustee does not have monies available to redeem the entire amount scheduled for redemption, the Trustee shall redeem Bonds of the applicable maturity or maturities by lot up to a principal amount equal to the available monies Notice of Redemption. The Trustee is required to give notice of the redemption of the Bonds, at the expense of the Authority, (i) at least 30 but not more than 45 days prior to the redemption date or (ii) immediately upon receipt of Net Proceeds from insurance or condemnation awards which are to be used to redeem Bonds. Notice must be given to the respective Owners of Bonds designated for redemption by first class mail, postage redeemed, at their addresses appearing on the Bond Register maintained by the Trustee. 6