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Ordinance 3405-14
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Ordinance 3405-14
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10/16/2014 11:26:10 AM
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10/16/2014 11:26:00 AM
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Ordinances
Ordinance Number
3405-14
Date
10/8/2014
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(B) the Bonds: <br /> (i) bearing interest at an Index Floating Rate shall bear interest <br /> at the Maximum Rate; <br /> (ii) bearing interest at a Variable Rate shall continue to bear <br /> interest at a Variable Rate determined as otherwise provided in Section 2.03; <br /> (iii) bearing interest at a Short-Term Rate shall bear interest as <br /> determined in Section 3.11(c) until all of such Bonds have been remarketed; <br /> (iv) bearing interest at a Long-Term Rate shall bear interest as <br /> determined in Section 3.11(c) until all of such Bonds have been remarketed; and <br /> (C) the mandatory tender of the Bonds on the Conversion Date <br /> pursuant to Section 3.10(a)(1) shall not occur, whether or not notice of the Conversion has been <br /> given to the Registered Owners. Notice of withdrawal of a Conversion notice shall be given by <br /> the City to the Bond Registrar, the Remarketing Agent, the Tender Agent, the Calculation Agent, <br /> if any, the Liquidity Facility Provider, if any, and the Credit Facility Provider, if any, by <br /> telephone, promptly confirmed in writing, and shall thereafter be promptly given to the <br /> Registered Owners of the Bonds (other than Long-Term Rate Bonds or Short-Term Rate Bonds) <br /> by the Bond Registrar by Electronic Notice, confirmed by first class mail. <br /> Section 2.04. Fixed Rate Conversion at Option of the City. <br /> (a) At the option of the City, all (but not less than all) Bonds with interest payable at <br /> an Index Floating Rate, Variable Rate, Short-Term Rate or Long-Term Rate may be converted to <br /> bear interest accruing at a Fixed Rate to their maturity. Any such Conversion shall be made as <br /> follows: <br /> -37-- P\20287 CMNA20287 AMT 10/14/14 <br />
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