83-86 Bonds - Hospital - Laserfiche WebLink

Home Browse Search

promptly to negotiate the sale of the Refunding Bonds to the Original Pu~mamer designated pursuant to Subsection (k) of this Section 5 upon terms~ cons~ent ~rith this Refunding ~ds Legislation, and to determine and specif~ in the Cer£ifica~e ef ~ar4 t~e following terms and pro- visions of or with respect to t~e Refunding Bonds: (i) the aggregate principal amount, provided that such amount shall not exceed $30,000,000; (ii) the Initial Interest Rate, provided that the Initial Interest Rate shall not exceed 7.5% (seven and one-half percent) per annum; (iii) the Purchase Price, provided that the aggregate amount of the Purchase Price shall not be less than 97% (ninety-seven percent) of the aggregate principal amount of the Refunding Bonds; (iv) the date of the Refunding Bonds, provided that such date shall be no later than September 1, 1986, and the first Interest Payment Date for the Series 1983-A Bonds, provided that such date shall be no later than July 1, 1987; (v) the Principal Retirement Dates, the Term Maturity Dates and the Mandatory Redemption Dates, provided that no such date shall occur prior to the Crossover Date or later than February 1, 2014; (vi) the Mandatory Sinking Fund Installments; (vii) the Principal Retirement Schedule, provided that the Bond Service Charges payable on the Refunding Bonds in any calendar year following the year in which the Crossover Date occurs shall not exceed two hundred percent (200%) of the bond service charges that would have been payable on the Series 1983 Bonds in such year, assuming no optional redemption of any Series 1983 Bond prior to its stated maturity, and provided further that the aggregate of the Bond Service Charges on the Refunding Bonds from and after the Crossover Date shall not exceed the aggregate of the bond service charges that would have been payable on the Series 1983 Bonds from and after that date; (viii) the Paying Agents for the Series Refunding Bonds, if any, other than the Refunding Trustee; (ix) the Earliest Optional Redemption Date, provided that such Date shall occur mo earlier than the first anniversary and no later than the tenth anniversary of the Crossover Date; and (x) the Optional Redemption Prices, provided that no such price (not including any portion thereof representing accrued interest) shall exceed one hundred three percent (103%) of the principal amount to be redeemed. The Executive and the Fiscal Officer, or either of them, shall execute the Certificate of Award, which may contain, in addition to the items