RES 94044 - Laserfiche WebLink

May 1,_ through April 30, __ 0.25% per year or portion of a year from. date of redemption to date of maturity, but not more than 2%. May 1 and thereafter 0% The City shall be required to give the Trustee written notice of its intention to prepay any Installment Payment under this subsection (b) at least sixty (60) days prior to the proposed prepayment date, and shall transfer to the Trustee all amounts required for such prepayment, at least thirty (30), but not greater than sixty (60), days prior to the date fixed for such prepayment. In the event that the Installment Payments shall have been prepaid by the City pursuant to subsection (a) or (b) above, the total amount of all future payments set forth in the schedule attached hereto as Exhibit B shall be reduced by the aggregate amount of such Installment Payment so prepaid, so that the remaining scheduled Installment Payments shall be sufficient to pay the applicable portion of principal of and interest on the Outstanding Bonds, as provided in the trust Agreement. In lieu of depositing cash with the Trustee as any mandatory prepayment pursuant to Section 4.01 (c) of the Trust Agreement, the City shall have the option to tender to the Trustee for cancellation any amount of Term Bonds of the same maturity which have been purchased by the City, which Term Bonds of the same maturity may be purchased by the City at public or private sale as and when and at prices not exceeding par. The par amount of any such Term Bonds so purchased by the City and tendered to the Trustee in any twelve-month period ending on April 15 in any calendar year shall be credited towards and shall reduce the mandatory prepayment required to be made pursuant to Section 4.01 (c) of the Trust Agreement on May 1 in such year. Notwithstanding any such prepayment, the City shall not be relieved of its obligations hereunder, including its obligations under Article III hereof, until the entire principal amount of the unpaid Installment Payments together with the interest accrued thereon, if any, and together with the ordinary and extraordinary fees, costs and expenses of the Trustee, shall have been fully paid and the Bonds are no longer Outstanding (or provision for payment thereof shall have been made pursuant to Article IX of the Trust Agreement and Section 6.03 hereof). Section 6.02. Method of Prepayment. Before making any prepayment pursuant to Section 6.01, the City shall, within five (5) days following the event permitting the exercise of such right to prepay or creating such obligation to prepay, give written notice to the Trustee describing such event and specifying the date on which the prepayment will be made, which date shall be not less than sixty (60) days from the date such notice is given. 2O 940670 IW.LAI