Ordinance 3405-14 - Laserfiche WebLink

date of remarketing of such Bank Bonds), then the City shall pay to the Liquidity Provider, or the City shall instruct the Bond Registrar to withdraw from the Bond Fund and pay to the Liquidity Provider (in either case, by wire transfer as provided above), the full amount of the interest due on such Bank Bonds on such Interest Payment Date, calculated at the Bank Rate and on the basis of a 365 day year or a 360 day year, as applicable to such Bank Rate in accordance with the Liquidity Facility or the Liquidity Facility Agreement relating to such Bank Bonds, and the actual number of days elapsed. If any Bonds shall be Bank Bonds on an Interest Payment Date for the Bonds, then, except if all Bonds are Bank Bonds, the City shall pay to the Liquidity Provider, or the City shall instruct the Bond Registrar to withdraw from the Bond Fund and pay to the Liquidity Provider (in either case, by wire transfer as provided above), the amount of the difference between (a) interest due on such Bank Bonds on such Interest Payment Date, calculated at the Bank Rate and on the basis of a 365 day year or a 360 day year, as applicable to such Bank Rate in accordance with the Liquidity Facility or the Liquidity Facility Agreement and the actual number of days elapsed, and (b) interest that would be due on such Bank Bonds on such Interest Payment Date if such Bank Bonds were not Bank Bonds. ARTICLE III REDEMPTION AND TENDER OF BONDS Section 3.01. Terms of Redemption; Redemption Fund. (a) Index Floating Rate Period. During any Index Floating Rate Period, on and after the initial Par Call Date, the Bonds are subject to redemption as provided in the Bond Purchase Contract or as determined by the Remarketing Agent and the Designated Representative, in each case at the direction of the City, in whole or in part in such amounts as are designated by the Designated Representative at a Redemption Price equal to the principal amount of Bonds called -50- P\20287_0MOA20287_AMT 10/14/14