Ordinance 3405-14 - Laserfiche WebLink

has obtained the prior written consent of the Credit Facility Provider or has deposited with the Bond Registrar monies sufficient to redeem such Bonds at least one Business Day prior to such redemption. So long as a Credit Facility is in effect, the Redemption Price of the Bonds optionally redeemed pursuant to Section 3.01(a) hereof shall be paid from the proceeds of a draw made under such Credit Facility; provided, however, in the event that the Credit Facility Provider fails to honor such drawing, the City shall provide to the Bond Registrar for deposit in the Bond Fund sufficient funds to optionally redeem the Bonds on the date fixed for redemption. Section 3.02. Selection of Bonds for Redemption. Whenever provision is made in this ordinance for the redemption of less than all of the Bonds, the Bond Registrar, as directed by the Designated Representative, in writing, shall select the Bond maturities to be redeemed, provided, that, with respect to Index Floating Rate Bonds or Long-Term Rate Bonds selected for redemption, such Bonds shall be redeemed in the following order of priority (and in any manner which the Bond Registrar shall deem appropriate and fair within each priority other than the last priority, within which the Designated Representative shall direct the manner of selection): First: any Bonds which are Bank Bonds; and Second: any Bonds which have been tendered to the Tender Agent for purchase on or prior to the date fixed for redemption; and Third: any other Bonds. The Bond Registrar shall promptly notify the City in writing of the Bonds or portions thereof so selected for redemption. Whenever fewer than all the Outstanding Bonds are to be redeemed, the Bonds shall be selected in accordance with the operational arrangements of DTC then in effect (or, in the event the Bonds are no longer in book-entry only form, randomly by the Bond Registrar) and the City -53- P\20287 CMWM20287 AMT 10/14/14