AgdaPkt 2012-01-09 - Laserfiche WebLink

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8.A. - Page 30 THE BONDS Authority for Issuance Pursuant to the Act, on Apri124, 2000, the City Council adopted Resolution No. 13889 establishing the District ("Resolution of Formation"). At that time, the then sole owner of all of the land in the District and the sole qualified elector for the District authorized the issuance of bonded indebtedness to finance the Improvements, and approved the rate and method of apportionment of Special Tax (the "Itate and Method"), a copy of which is attached to this Official Statement as Appendix B. See "THE DISTIZICT—History of the District.° The Bonds are authorized to be issued pursuant to the Act, a resolution adopted on January 9, 2012, by the City Council, acting as the legislative body of the District, and the Fiscal Agent Agreement. The Special Taxes to be used to pay debt service on the Bonds will be levied in accordance with the Rate and Method. General Provisions The Bonds will be issued only as fully registered Bonds, in the denomination of $5,000 or any integral multiple thereof, and will bear iilterest at the rates per annum and will mature on the dates set forth on the inside cover page of this Official Statement. The Bonds will be dated the date of their issuance and interest will be payable on each Interest Payment Date, commencing September 1, 2012. Each Bond will bear interest from the Interest Payment Date next precedi�zg the date of authentication thereof by the Fiscal Agent, unless (a) it is authenticated on an Interest Payment Date, in which event it will bear interest from such Interest Payment Date; (b) the date of authentication is after a Record Date and on or before the following Interest Payment Date, in which event it will bear interest from such Interest Payment Date; or (c) it is authenticated on or before August 15, 2012, in which case it will bear interest from the Closing Date; provided, however, that if, 1s of the date of authentication of a Bond, interest is in default thereon, such Bond shall bear interest from the Interest Payment Date to which interest has previously been paid or made available for payment thereon. Interest with respect to each Bond will be calculated on the basis of a 360-day year consisting of twelve 30-day months. The Bonds will be payable both as to principal and interest, and as to any premiums upon the redemption thereof, in lawful money of the United States of America. Subject to the book-entry only provisions of the Fiscal Agent Agreement, interest on the Bonds is payable on the Interest Payment Dates by check mailed via first class mlil on the Interest Payment D1te by the Fiscal Agent to the respective Owners thereof as of the preceding Record Date at their addresses as they appear i�z the registration books of the Fiscal Agent or, upon the written request from any Owner of Bonds aggregating at least $1,000,000 in principal amount received on or prior to the fifteenth day of the month preceding an applicable Interest Plyment Date, by wire in Federal Reserve funds to an account withiil the United States, on the Interest Payment Date with regard to which such payment is made. The principal of the Bonds and any premium due upon the redemption thereof will be payable upon presentation and surrender of the Bonds at the Principal Office of the Fiscal Agent. The Bonds will be issued in book-entry form only and, when delivered, will be registered in the name of Cede & Co., as nominee of DTC, which will act as securities depository for the Bonds. Individual purchases of the Bonds will be made in book-entry form only. Purchasers of the Bonds will not receive physical certificates representing their ownership interests in the Bonds purchased. Principal and interest payments represented by the Bonds are payable directly to DTC by the Fiscal Agent. Upon receipt of payments of principal and interest, DTC -6-