AgdaPkt 2003-11-03 - Laserfiche WebLink

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q, 8 -32 THE BONDS The Bonds are special obligations of the Authority, payable from and secured by Revenues (as defined herein) of the Authority, which consist primarily of the Lease Payments to be made by the City to the Authority for the right to the use of the Leased Property pursuant to the Lease Agreement Interest represented by the Bonds will accrue at the applicable interest rate from the Dated Date until its date of maturity or prior redemption, with interest becoming payable on each January 15 and July 15 (each, an "Interest Payment Date "), commencing July 15, 2004. The Bonds will bear interest (calculated on the basis of a 360 -day year consisting of twelve 30 -day months) from the Interest Payment Date next preceding the date of authentication thereof, unless such date of authentication is on or after the fifteenth 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, 2004, in which case they shall bear interest from the Closing Date. Registration, Transfers and Exchanges The Bonds will be issued as fully registered Bonds, registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York ( "DTC "), and will be available to actual purchasers of the Bonds (the "Beneficial Owners ") in the denominations set forth above, under the book -entry system maintained by DTC, only through brokers and dealers who are or act through DTC Participants (as defined herein). Beneficial Owners will not be entitled to receive physical delivery of the Bonds. In the event that the book - entry-only system is no longer used with respect to the Bonds, the Bonds will be registered and transferred in accordance with the Indenture. See "APPENDIX E - DTC and the Book -Entry System" below. Redemption Optional Redemption. The Bonds maturing on or before July 15, 20_, are not subject to optional redemption prior to their respective stated maturities. The Bonds maturing on or after July 15, 20_, are subject to optional redemption on any date on or after July 15, 20_, in whole or in part, from prepayments of the Lease Payments made at the option of the City pursuant to the Lease Agreement, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest to the redemption date plus a premium (expressed as percentages of the principal amount of Bonds or portions thereof to be redeemed) set forth in the following table, together with accrued interest to the date fixed for redemption: Redemption Redemotion Date Price Special Redemption m the Event ofDestruction or Condemnation 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 Leased Property, which Net Proceeds are deposited in the Payment Fund and credited towards the prepayment of the Lease Payments made by the City pursuant to the Lease Agreement, at a redemption price equal to the principal amount of the 1<�_M