85-128 Ordinance - Laserfiche WebLink

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_ .. . .? ? ,'N The Bonds are subject to optional redemption prior to maturity, in whole or in part by lot, on January 1, 1996, or on any Interest Payment Date on the Bonds thereafter, in the event of prepayment of the Note in full or in part by the Borrowers as provided by the first paragraph of Section 6.1 of the Loan Agreement. The redemption date in any such event shall be the date set by the Borrowers for prepayment of the Note in accordance with the provisions of such paragraph. The redemption price in any such event shall be equal to the following percentages of the principal amount redeemed, plus in each case accrued interest to the clate fixed for redemption: Redemption Date Optional Redemption Price January 1, 1996 or July 1, 1996 105-1/4$ January l, 1997 or July 1, 1997 104-1/4$ January 1, 1998 or July 1, 1998 103-1/4$ January 1, 1999 or July 1, 1999 102-1/4$ January 1, 2000 or July 1, 2000 101-1/4$ January l, 2001 or July l, 2001 100-1/4$ January 1, 2002 and thereafter 100$ The Bonds are also subject to optional redemption in whole in the event of the exercise by the Borrowers of their options to prepay the Note in full as provided by the fifth paragraph of Section 6.1 of the Agreement. The redemption date in any of such events shall be the date set by the Borrowers for prepayment of the Note in accordance with the provisions of such paragraph. The redemption price in any of such events shall be 100% of the principal balance of the Bonds outstanding on the date of redemption, plus accrued interest to the redemption date. The Bonds are also callable for redemption in whole or in part by lot, upon occurrence of any of the circumstances which operate to require prepayment of the Note in whole or in part by tne Borrowers in accordance with the provisions of the third paragraph of Section 6.1 and the first and third paragraphs of Section 6.2 of the Loan Agreement. The redemption date in any of such events shall be the date set by the Borrowers, (or in default thereof, by the Trustee) for the prepayment of the Note in whole or in part in accordance with the provisions of the Loan Agreement. The redemption price in any of such events shall be 100$ of the principal amount of the Bonds to be-redeemed on the date of redemption, plus accrued interest to the redemption date; provided that upon any call for redemption of the Bonds due to a Determination of Taxa- bility, the redemption price shall be increased by an amount equal to the difference between (a)(i) the aggregate amount of interest which would have been payable on the Bonds if the interest rate on the Bonds, commencing on the date of the Event of Taxability, had been the Taxable Rate of Interest, plus (ii) -10-