Ordinance 3405-14 - Laserfiche WebLink

Daily Rate Bond), the Remarketing Agent shall give notice by telephone (promptly confirmed by Electronic Notice) to the Tender Agent specifying: (1) the aggregate principal amount and Purchase Price of Bonds subject to purchase on such Purchase Date for which the Remarketing Agent has received indications of interest from prospective purchasers, and (2) the aggregate principal amount and Purchase Price of Bonds subject to purchase on such Purchase Date for which the Remarketing Agent has not received indications of interest from prospective purchasers. (d) The Remarketing Agent shall offer for sale and use its best efforts to arrange for the sale and remarketing of all Bank Bonds at a price equal to 100% of the principal amount thereof plus (unless all of the Bonds are Bank Bonds or as otherwise provided in Section 2.03(g) or Section 2.04) accrued and unpaid interest thereon at the rate that would be borne by such Bank Bonds if such Bank Bonds were not Bank Bonds. In connection with each remarketing of Bank Bonds by the Remarketing Agent: (1) The Remarketing Agent shall (A) provide to the City, the Liquidity Facility Provider, the Bond Registrar and the Tender Agent not less than one Business Day's prior notice of such remarketing, and (B) pay, or cause to be paid to such Liquidity Facility Provider, by wire transfer of immediately available funds, the proceeds of such remarketing; (2) The City shall (A) in consultation with the Liquidity Facility Provider, calculate the amounts payable to the Liquidity Facility Provider pursuant to the Liquidity Facility or the related Liquidity Facility Agreement by reason of, and on the date of such remarketing (such amounts being referred to as the "Remarketing Payment Amount"), and (B) pay to the Liquidity Facility Provider, or direct the Bond Registrar to withdraw from the Bond Fund and pay to such Liquidity Facility Provider, in either case, on the date of such remarketing and by -77-- P\20287 CM1 20287 AMT 10/14/14