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32-89 Hospital Improvement Revenue Bonds $36 mil
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32-89 Hospital Improvement Revenue Bonds $36 mil
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Last modified
5/14/2013 3:06:42 PM
Creation date
9/5/2003 12:16:23 PM
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Office Of Council
Document Type
Ordinances
Date
9/5/2003
Date Adopted
6/5/1989
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(g) Redemption (Catastrophic Events). The Series One Bonds <br />are non-callable for redemption prior to the Optional Earliest Redemp- <br />tion Date for the Series One Bonds, except in the event of condemnation <br />of the Hospital Facilities or any part thereof to the extent provided in <br />Section 5.10 of the Indenture, or in the event of damage or destruction <br />of the Hospital Facilities or any part thereof to the extent provided in <br />Section 5.11 of the Indenture, or in the event of the sale of the <br />Hospital Facilities by the Issuer pursuant to Section 5.14 of the Inden- <br />ture and to the extent provided therein. If called for redemption in <br />any of such events, the Series One Bonds shall be subject to redemption <br />by the Issuer, at the direction of the Lessee, on any date in whole or, <br />in the case of redemption pursuant to Sections 5.10 and 5.11 of the <br />Indenture, in part (but at least in the Redemption Amount) on any Inter- <br />est Payment Date for the Series One Bonds, at a redemption price of 100 <br />percent of the principal amount thereof, plus accrued interest to the <br />redemption date. <br /> <br /> (h) Method of Redemption. Notice of call for any redemption <br />of Series One Bonds, identifying the Series One Bonds or portions of <br />Series One Bonds to be redeemed, the date fixed for redemption and the <br />places where the amounts due upon such redemption are payable shall be <br />given by the Trustee on behalf of the Issuer by certified mail at least <br />fifteen days prior to the dated fixed for redemption to the Holder or <br />holders of each Series One Bond or portion thereof to be called for <br />redemption at the address shown on the registration books kept by the <br />Trustee; provided, however, that failure to give such notice to any <br />Bondholder, or any defect'in such notice so mailed, shall not affect the <br />validity of the proceedings for the redemption of the Bonds. If less <br />than all of the outstanding Series One Bonds of one maturity are to be <br />called for redemption, whether optional or mandatory, then: (a) the <br />selection of such Series One Bonds, or portions thereof, of such <br />maturity to be called shall be made by lot by the Trustee in such manner <br />as the Trustee shall determine; and (b) if optional redemption of Series <br />One Bonds at a Redemption Price exceeding one hundred Percent (100%) of <br />the principal amount to be redeemed is to take place on a Mandatory <br />Redemption Date for the Series One Bonds, the Series One Bonds, or <br />portions thereof, to be so redeemed shall be selected prior to the <br />selection of the Series One Bonds to be redeemed on the same date <br />pursuant to mandatory redemption. <br /> <br /> If Series One Bonds or portions of Series One Bonds are duly <br />called for redemption and if on such redemption date moneys for the <br />redemption of all Series One Bonds to be redeemed, together with inter- <br />est to the redemption date and any applicable redemption premium, shall <br />be held by the Trustee or Paying Agents so as to be available therefor, <br />then from and after such redemption date such Series One Bonds or <br />portions of Series One Bonds shall cease to bear interest. <br /> <br /> (i) Certificate of Award. The Executive and the Fiscal <br />Officer are, and each of them is, hereby authorized and directed prompt- <br />ly, either alone or in conjunction with each other, to negotiate the <br />sale of the Series One Bonds to such Person or Persons selected and <br />specified in the Certificate of Award for the Series One Bonds by the <br /> <br />-19- <br /> <br /> <br />
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