RES 67055 - Laserfiche WebLink

28 Bonds as they shall become due and payable, except that all moneys in any Sinking Fund Account shall (except as otherwise provided in Article VIII heredf) be used and withdrawn by the Fiscal Agent only to purchase or to redeem Bonds of the series for which such Sinking Fund Account was created, as provided in this Resolution. There is hereby created within the Principal and Sinking Fund Account a Series A Sinking Fund Account for payment of the principal of the Series A Term Bo. rids, which the City hereby covenants and agrees to cause to be maintained. Beginning in May, 1982, the Fiscal Agent shall deposit in the Series A Sinking Fund Account each month R~venues in an amount equal to one-twelfth of an amount which shall be sufficient to.call and redeem Series A Bonds (including premiums thereon, but excluding aec~ed interest thereOn which is payable from the Interest Account) in the following respective principal amounts on May 1 of each of the following years: Year Ending May 1 1983 ................ 1984 ................ 1985 ................ 1986 ................ 1987 ................ 1988 ................ 1989 ................ 1990 ................ 1991 ................ 1992 ................ 1993 ................ Principal Amountof Sedes A Bondsto Be Called and Redeemed $15,000 15,000 20,000 20,000 20,000 20,000 20,000 25,000 25,000 ~25,000 25,000 All moneys in the Series A Sinking Fund Account may be used and withdrawn by the Fiscal Agent, and shall be used and withdrawn upon the written request of the City, at any time for the purchase of Series A Bonds at public or private sale, as and when and at such prices (including brokerage and other char. ge_s, but exclud- ing accrued interest, which is payable from the Interest Account) as it may in its discretion determine, but not to exceed the highest redemption price or the then current redemption price for Bonds redeemed from the Series A Sinking Fund Account (excluding accrued interest), whichever is lower, and all bonds so pur- chased by the Fiscal Agent shall be cancel/ed; provided, however, that all moneys in the Series A Sinking Fund Account on the fifteenth day of any March beginning in March, 1983, together with any additional sums estimated by the Fiscal Agent to be receivable in the Series A Sinking Fund Account between such date and the next succeeding interest payment date, in an amount sufficient to redeem at last $5,000 principal amount of Series A Bonds, shall be used and withdrawn by the Fiscal Agent on and after May 1, 1983, solely for the purpose of redeem-