Ordinance 3405-14 - Laserfiche WebLink

redeliver or transfer Bank Bonds (being remarketed by the Remarketing Agent) as provided in Section 3.14(d). Any other disposition of Bank Bonds shall be made only at the written direction or with the prior written consent of the Liquidity Facility Provider. (c) Upon the application of moneys described in Section 3.09(d)(3) to the purchase of Bonds on a Purchase Date pursuant to Section 3.09(d)(3) (and/or to the transfer thereof to the Undelivered Bond Payment Account of the Purchase Fund on a Purchase Date pursuant to Section 3.09(e)), the Bonds purchased (or, in the case of such transfer, provided to be purchased) with such moneys shall be registered in the name of the City and shall, at the direction of the City, be delivered to the Bond Registrar for cancellation (and canceled by the Bond Registrar) or delivered to the Tender Agent for the account of the City and remarketed in accordance with Section 3.14(e). (d) Any Bonds canceled by the Bond Registrar pursuant to this Section and any Bonds surrendered by the City to the Bond Registrar for cancellation shall be allocated to the next succeeding Mandatory Sinking Account Payment, then as a credit against such future Mandatory Sinking Account Payments as the City may specify in a certificate of the Designated Representative. So long as a Liquidity Facility is in effect, the Bond Registrar shall notify the Liquidity Facility Provider of the aggregate principal amount of Bonds so canceled and shall submit to the Liquidity Facility Provider such documents, if any, as are required in accordance with the terms of the Liquidity Facility to cause the amounts available under the Liquidity Facility to be reduced in respect of such Bonds so canceled. Section 3.16. The Liquidity Facility. (a) Delivery of a Liquidity Facility. In each case where a Liquidity Facility is to be delivered to the Tender Agent (including the delivery of a new Liquidity Facility in substitution -80- P\20287 CMM20287 AMT 10/14/14