Ordinance 3405-14 - Laserfiche WebLink

(b) The Fixed Rate Conversion Date shall be the first day following an Interest Payment Period for the Bonds in the then-current Interest Rate Mode; provided, however, that for Long-Term Rate Bonds, such Conversion shall occur only on a date that such Long-Term Rate Bonds are subject to purchase pursuant to Section 3.10(a)(3). (c) The City shall give written notice of its intent to exercise its option to effect any such Conversion to (1) in all cases, the Bond Registrar, and each Rating Agency then maintaining a rating on the Bonds and (2) in the case of Index Floating Rate Bonds, Variable Rate Bonds, Short-Term Rate Bonds or Long-Term Rate Bonds, the Remarketing Agent, the Tender Agent, the Liquidity Facility Provider, if any, and Credit Facility Provider, if any, by Electronic Notice confirmed in writing not less than five days (or such shorter period as shall be acceptable to the applicable parties) prior to (A) the date on which the Bond Registrar is required to notify the Registered Owners of the Conversion pursuant to Section 2.04(d) or (B) the Conversion Date (if the Bonds are Short-Term Rate Bonds or Long-Term Rate Bonds). Such notice shall specify the proposed Fixed Rate Conversion Date. Additionally, such notice shall confirm the appointment, subject to and in accordance with the requirements of this ordinance (including Section 3.12 and Section 3.13) of a qualified Remarketing Agent to act as Remarketing Agent in connection with the mandatory tender of such Bonds by reason of such Conversion and the appointment, subject to and in accordance with this ordinance (including Section 3.07), of a qualified Tender Agent to act as Tender Agent in such connection; provided, however, that no such confirmation and no such appointments shall be required if such Bonds are then Index Floating Rate Bonds, Variable Rate Bonds, Short-Term Rate Bonds or Long-Term Rate Bonds and the Remarketing Agent and the Tender Agent then acting are obligated to -38- P\20287CMVN20287 AMT 10/14/14