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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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wire transfer of immediately available funds, an amount of money which, when added to the <br /> proceeds of such remarketing being delivered to the Liquidity Facility Provider on the date of <br /> such remarketing, equals the Remarketing Payment Amount; <br /> (3) The Tender Agent shall confirm with the Liquidity Facility Provider the <br /> receipt by the Liquidity Facility Provider of the Remarketing Payment Amount, the <br /> reinstatement of the obligation of the Liquidity Facility Provider to make funds available under <br /> the Liquidity Facility and the authorization of the Liquidity Facility Provider to release such <br /> Bank Bonds or its security interest therein; and <br /> (4) After, and only after, receipt by the Tender Agent of confirmation by the <br /> Liquidity Facility Provider of the reinstatement of the obligation of the Liquidity Facility <br /> Provider under the Liquidity Facility to purchase or make funds available for the purchase of <br /> such Bank Bonds following remarketing of such Bank Bonds and authorization by such <br /> Liquidity Facility Provider of such transfer or such authentication and delivery, the Tender Agent <br /> shall (A) while the Bonds are held in book-entry only form, cause the ownership interest in such <br /> Bank Bonds to be transferred to or for the benefit of such purchaser or purchasers as are <br /> specified by the Remarketing Agent for such purpose, and (B) if the Bonds are not then held in <br /> book-entry only form, cause the Bond Registrar to authenticate other Bonds in lieu of such Bank <br /> Bonds and to deliver the same to or upon the instruction of the Remarketing Agent. <br /> (e) The Remarketing Agent shall offer for sale and use its best efforts to arrange for <br /> the sale and remarketing of (1) all Bonds subject to purchase on a Purchase Date that are <br /> purchased with moneys provided by the City to the Tender Agent for such purpose (as described <br /> in Section 3.09(c)(2) all Bonds that are purchased by the City pursuant to the Liquidity Facility <br /> or the related Liquidity Facility Agreement and not surrendered by the City for cancellation. <br /> -78-8- P\20287 CMW20287 AMT 10/14/14 <br />
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