106-83 Bonds for Hospial - Laserfiche WebLink

Home Browse Search

the Interest Index shall be based upon the average of the six-month yield evaluations at par of not less than twenty (20) nor more than forty (40) issues of securities the interest on which is exempt from Federal income taxation (the "High Grade Component Issues") selected by the Indexing Agent for the purpose of computing its "Six-Month High Grade Munici- pal Index" which is offered generally by the Indexing Agent to its subscribers and identified in a certificate delivered by the Indexing Agent. The issues included in the computation of the Index, after notice to the Issuer, the Trustee, the Remar- keting Agent and the Bank may be changed, added or reduced from time to time by the Indexing Agent. If the Issuer, the Remarketing Agent or the Bank objects to the proposed change, the Indexing Agent will replace, beginning with the next computation, the issue to which an objection has been made. (b) If the conditions of paragraph (a) above are not met, but (1) the Bank has any outstanding securities which are rated by either Rating Agency in either of its third or fourth highest long-term debt rating categories, or in /ts second highest note or commercial paper rating category, or (2) the Bank has no outstanding securities which are rated by either Rating Agency, or (3) an Alternate Letter of Credit has been issued and the bank issuing the Alternate Letter of Credit has any outstanding securities which are rated by either Rating Agency in either of its third or fourth highest long-term debt rating categories, or (4) the Series 1983 Bonds are rated by either Rating Agency in either of its third or fourth highest long-term debt rating categories, then in any of such cases the Interest Index shall be based upon the average of the slx-month yield evaluations at par of not less than twenty (20) nor more than forty (40) issues of securities the inter- est on which is exempt from Federal income taxation (the "Intermediate Grade Component Issuers") selected by the Index- ing Agent for the purpose of computing its "Six-Month Interme- diate Grade Manic/pal Index" which is offered generally by the Indexing Agent to its subscribers and identified in a certifi- cate delivered by the Indexing Agent. The issues included in the computation of the Index, after notice to the Issuer, the Trustee, the Remarketing Agent and the Bank, may be changed, added or reduced from time to time by the Indexing Agent. If the Issuer, the Remarketing Agent or the Bank objects to the proposed change, the Indexing Agent will replace, beginning with the next computation, the issue to which an objection has been made. (c) It is the purpose of the Interest Index to permit the remarketing of the Series 1983 Bonds pursuant to the Remarker- lng Agreement without premium or discount and the Indexing Agent agrees that it will from time to time review the -8-