AgdaPkt 2012-01-09 - Laserfiche WebLink

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8.A. - Page 29 PLAN OF REFUNDING Redemption of Prior Bonds The net proceeds of the sale of the Bonds, together with certain other funds held under the Fiscal Agent Agreement, dated as of August 1, 2000, pursuant to which the Prior Bonds were issued (the "Prior Fiscal Agent Agreement"), will be deposited in an escrow lccount (the "Escrow Fund") held by U.S. Banl� National Association, in its capacity as escrow bank (the "Escrow Bank") and as the Prior Fiscal Agent, pursuant to Escrow Instructions from the City, dated for reference purposes as of January 1, 2012, and will be applied to legally defease all of the outstanding Prior Bonds on the date of delivery of the Bonds. Amounts in the Escrow Fund will be sufficient, without rei�lvestment, to redeem the Prior Bonds on March 1, 2012, at a redemption price equal to the principal amount thereof to be redeemed plus accrued interest to the redemption date, without premium. Upon the deposit of funds with the Escrow Bank in the Escrow Fund and in accordance with the Escrow Instructions, the Prior Bonds will be legally defeased and will no longer be entitled to the benefits of, or be secured by, the Prior Fiscal Agent Agreement or any pledge of, or lien on, the Special Taxes levied in the District. Amounts deposited in the Escrow Fund are not in any way pledged to the payment of, or available to pay, the debt service on the Bonds. Estimated Sources and Uses of Funds The sources and uses of funds in connection with the Bonds are expected to be as follows: Principal of Bonds $ Amounts relating to the Prior Bonds Less: Original Issue Discount Less: Underwriter's Discount Total Sources $ Deposit to Escrow Fund�'� $ Deposit to Reserve Fund Deposit to Costs of Issuance Fund�� Total Uses $ (1) See "PLAN OF REFUNDING—Redemption of Prior Bonds." (2) Equal to the initial Reserve Reqturement. See "SECURITY FOR THE BONDS—Reserve Fund." (3) Costs of issuance include, without limitation, Fiscal Agent fees and expenses, Financi�l Advisor fees and expenses, fees and expenses of Bond Counsel and Disclosure Cot�nsel and other legal fees and expenses,Escrow Bank fees and expenses, and printing costs. -5-