86-064 Ordinance - Laserfiche WebLink

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i Note in accordance with Section 6.2 of the Loan Agreement. The redemption price in any such event shall be 100% of the principal amount of the Bonds to be reaeemed, plus accrued interest thereon to the date Lixed tor redemption. The Bonds are also callable for redemption in whole or in part by lot upon the occurrence of any of the circumstances which operate to require prepayment of the Note in whole or in part by the Borrowers in accordance with the provisions of the third paragraph of Section 6.3 ot the Loan Agreement. The redemption price in any such event shall be 100% of the principal amount of the Bonds to be redeemed, plus accrued interest thereon to the date fixed for redemption. 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 in Section 6.5 of the Aqreement and 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 tne Note in whole or in part by the Borrowers in accordance with the provisions of the first paragraph of Section 6.3 of the Loan Aqreement. 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 accruecl interest to tne redemption date; provided that upon any call for redemption ot the Bonds due to a Determination of Taxa- bility, the redemption price shall be increased by an amount equal to the difterence between (a) (i) the aggreqate amount ot interest which would have been payable on the Bonds if the interest rate on the Bonds, commencing on the date ot the Event ot Taxability, had been the applicable Taxable Rate of Interest, plus (ii) any penalties and interest payable by the Bondholders to any taxing authority as a result of the loss of the tax-exempt status of interest on the Bonds, plus (iii) all attorneys tees and other costs incurred by the Bondholders in contesting or resisting the loss of the tax-exempt status of interest on the Bonds, plus (iv) all fees and expenses of the Trustee incurred as a result of an Event of Taxability, as provided in the Indenture and (b) the aqgreqate amount of interest actually paia on the Bonds to the redemption date. Notice from the Borrowers to the Trustee that the Note is to be prepaid in whole or in part pursuant to the Aqreement shall constitute the direction of the Issuer to the Trustee to call a portion or all, as the case may be, of the then outstanding Bonds, and no separate notice from the Issuer to the Trustee shall be required. -12-