89-100 Ordinance - Laserfiche WebLink

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States of America, shall equal the principal amount, or such portion thereof, to be purchased and shall be paid in full on the applicable Bond Purchase Date. A. 2. Tender Option While Project Bonds Bear Interest at the Weekly Interest Rate. While the Project Bonds bear interest at the Weekly Interest Rate, each Holder has the option to tender for purchase, at 100$ of the principal amount thereof plus accrued interest to the purchase date (a "Bond Purchase Date"), all of the Project Bonds (so long as such Project Bonds have not previously been selected for redemption) owned by such Holder, or such lesser principal amount (in denominations of $5,000 or any integral multiple thereof) as such Holder may specify in accordance with the terms, conditions and limitations hereafter set forth. The purchase price for each such Project Bond shall be payable in lawful money of the United States of America, and shall be paid in full on the applicable Bond Purchase Date. To exercise the option granted in Paragraph A.l. above, the Holder shall (1) no earlier than 15 days prior to the Bond Purchase Date and no later than 11:00 a.m. according to the local time at the principal corporate trust office of the Trustee on the eighth Business Day prior to the Bond Purchase Date, unless the Project Bonds bear interest at the Monthly Interest Rate, then on the fifth Business Day prior to the Bond Purchase Date, give notice to the Trustee by telephone, telegraph or in writing, which states (i) the name and address of the Holder, (ii) the principal amount of the Project Bonds to be purchased, and (iii) that the Project Bonds are to be purchased on such Bond Purchase Date pursuant to the terms of the Indenture, and (2) no later than 10:00 a.m. according to the local time at the principal corporate trust office of the Trustee on the seventh day preceding such Bond Purchase Date, unless the Project Bonds bear interest at the Monthly Interest Rate, then on the fourth day preceding such Bond Purchase Date, deliver to the principal corporate trust office of the Trustee the Project Bonds to be purchased in proper form, accompanied by fully completed and executed Instructions to Sell, the form of which is printed on the Project Bonds. To exercise the option granted in paragraph A.2. above, the Holder shall (1) give notice to the Trustee by telephone, telegraph or in writing, which states (i) the name and address of the Holder, (ii) the principal amount of the Project Bonds to be purchased, and (iii) the date on which such Project Bonds are to be purchased, which Bond Purchase Date shall be a Business Day not prior to the seventh (7th) day and not earlier than the fifteenth day next succeeding the date of giving of such notice to the Trustee and, if the interest rate on the Project Bonds is to be converted from the Weekly Interest Rate to a new Interest Rate Mode, is a date prior to the Interest Rate Reset Date with respect to the new Interest Rate Mode, and (2) no later than 10:00 a.m. according to the local time at the principal corporate trust office of the Trustee on the second Business Day immediately preceding the applicable Bond Purchase Date, deliver -13-