Ordinance 3405-14 - Laserfiche WebLink

same Short-Term Rate; and provided further that all Bonds shall be Short-Term Rate Bonds if any of the Bonds are Short-Term Rate Bonds. (4) Determination Time. Each such interest rate shall be determined by the Remarketing Agent by 4:00 p.m., New York City time, on the Business Day immediately preceding the commencement date of the Short-Term Interest Period to which it relates. Notice of each Short-Term Rate shall be given by the Remarketing Agent to the Bond Registrar, the Tender Agent, the City, the Liquidity Facility Provider, if any, and the Credit Facility Provider, if any, by Electronic Notice not later than 5:00 p.m., New York City time, on the date of determination. The Bond Registrar shall inform the Registered Owners of each Short-Term Rate determined by the Remarketing Agent upon request. (f) Long-Term Rates. (1) Interest Period. Whenever Bonds are to bear interest accruing at a Long- Term Rate, Long-Term Interest Periods shall commence on a Long-Term Rate Conversion Date or, thereafter, the effective date of a subsequent Long-Term Interest Period, and end on a day which is at least 12 months after such Long-Term Rate Conversion Date which is the day preceding (A) the effective date of a subsequent Long-Term Interest Period, (B) the Conversion Date on which a different Interest Payment Period shall become effective or (C) the Maturity Date, provided that if a Liquidity Facility or Credit Facility is in effect, each Long-Term Interest Period shall not extend to a date beyond the fifth day next preceding the Stated Expiration Date of such Liquidity Facility or Credit Facility. The term of each Long-Term Interest Period shall be specified in writing by the City to the Remarketing Agent, the Bond Registrar, the Tender Agent, the Liquidity Facility Provider, if any, and the Credit Facility Provider, if any, at least 5 days prior to its commencement. -31- P\20287 CMNM20287 AMT 10/14/14