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AgdaPkt 2013-05-20 Closed Cancelled and Special
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AgdaPkt 2013-05-20 Closed Cancelled and Special
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Last modified
5/30/2013 3:32:59 PM
Creation date
5/16/2013 3:56:45 PM
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Template:
CC Index
CC Index - Document Type
Agenda Packet
Meeting Type
Joint
Agency Type
City Council and Public Finance Authority
Date
5/20/2013
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7.A. - Page 31 Attachment 6 <br /> Book-Entry Only System <br /> The Bonds, when issued, will be registered in the name of Cede & Co., as registered <br /> owner and nominee of The Depository Trust Company, New York, New York ("DTC"). DTC <br /> will act as securities depository for the Bonds so purchased. Individual purchases will be made <br /> in book-entry-only form. Purchasers will not receive a certificate representing their beneficial <br /> ownership interest in the Bonds. So long as Cede &Co. is the registered owner of the Bonds, as <br /> nominee of DTC, references herein to the Bondholders,holders or registered owners shall mean <br /> Cede & Co. as aforesaid, and shall not mean the "Beneficial Owners" of the Bonds. In this <br /> Official Statement, the term "Beneficial Owner" shall mean the person for whom a Participant <br /> (as defined herein) acquires an interest in the Bonds. See APPENDIX G—BOOK-ENTRY ONLY <br /> SYSTEM. <br /> In the event the use of the book-entry-only system is discontinued, principal of the <br /> Bonds will be payable upon surrender thereof at the principal corporate trust office of the <br /> Trustee in St. Paul, Minnesota. Interest payable on the Bonds will be paid by check mailed on <br /> the Interest Payment Date to the person in whose name each Bond is registered in the <br /> registration books maintained by the Trustee as of the applicable Record Date for such Interest <br /> Payment Date; provided that registered owners of $1,000,000 or more in aggregate principal <br /> amount of Bonds may request payment by wire transfer, such request to be submitted in <br /> writing to the Trustee on or before the applicable Record Date for such Interest Payment Date in <br /> accordance with the provisions set forth in the Indenture. <br /> Transfer and Exchange <br /> Transfer of Bonds. Any Bond may, in accordance with its terms, be transferred on the <br /> Registration Books by the person in whose name it is registered, in person or by his duly <br /> authorized attorney, upon surrender of such Bond for cancellation, accompanied by delivery of <br /> a written instrument of transfer, duly executed in a form approved by the Trustee. Transfer of <br /> any Bond shall not be permitted by the Trustee during the period established by the Trustee for <br /> selection of Bonds for redemption or if such Bond has been selected for redemption. Whenever <br /> any Bonds or Bonds shall be surrendered for transfer, the Authority shall execute and the <br /> Trustee shall authenticate and shall deliver a new Bond or Bonds for a like aggregate principal <br /> amount and of like maturity. The Trustee may require the Bond Owner requesting such transfer <br /> to pay any tax or other governmental charge required to be paid with respect to such transfer. <br /> Exchange of Bonds. Any Bond may be exchanged at the principal corporate trust office of <br /> the Trustee for a like aggregate principal amount of Bonds of other authorized denominations <br /> and of like maturity. Exchange of any Bond shall not be permitted during the period established <br /> by the Trustee for selection of Bonds for redemption or if such Bond has been selected for <br /> redemption. The Trustee shall require the Bond Owner requesting such exchange to pay any tax <br /> or other governmental charge required to be paid with respect to such exchange. <br /> Terms of Redemption <br /> Optional Redemption. The Bonds maturing on or prior to February 1, 2023, are non- <br /> callable. The Bonds maturing on and after February 1, 2024, are subject to redemption, at the <br /> option of the City, on any date on or after February 1, 2023, as a whole or in part, by such <br /> maturities as shall be determined by the City, and by lot within a maturity, from prepayments <br /> of the Installment Payments made at the option of the City pursuant to the Installment Purchase <br /> Contract, from any available source of funds, at a redemption price equal to the principal <br /> amount of the Bonds to be redeemed, together with accrued interest thereon to the date fixed <br /> for redemption,without premium. <br /> -S- <br />
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