Ordinance 2098-95 - Laserfiche WebLink

Refunded Obligations shall be irrevocable upon the delivery of the Bonds to the initial purchasers thereof. The-Refunding Trustee, in concert with the Director of Finance and Treasurer of the City, shall provide for mailing of the proper notices of such redemption and prepayment in accordance with the provisions of Ordinance No. 1739-90, and of Ordinance Nos. 1774-91, 1818-91 and 1858-92 and the leases and trust agreements authorized by such ordinances, authorizing the issuance and sale of the Refunded Obligations. The City shall pay the costs of giving such notice. The City represents to the Refunding Trustee that the maturing principal and interest on the Acquired Obligations, if paid when due, together with the necessary beginning cash balance, will be sufficient to pay, when due: (a) Interest that will become due and payable on and before December 1, 2000 on the Refunded Bonds; (b) The redemption price payable on December 1, 2000, for the principal of the Refunded Bonds; (c) the interest on the following Lease Obligations due and payable on and prior to the following Optional Prepayment Dates and the prepayment price (100% of the principal amount) payable on such Optional Prepayment Dates on such Lease Obligations: Date of Optional Prepayment Authorizing Approving Lease Obligations Dates COP Series Ordinance Resolution April 23, 1991 April 1, 2001 1991A 1774-91 3541 October 1, 1991 October 1, 2001 1991C 1818-91 3538 May 31, 1992 March 1, 2002 1992A 1858-92 3605 Section 3. Disbursements by Refunding Trustee. The Refunding Trustee shall present for payment on the due dates thereof the Acquired Obligations so deposited with it and shall apply the proceeds derived therefrom and the interest paid thereon in accordance with the provisions of the Bond Ordinance and this Agreement. Moneys shall be transferred, in a timely manner, by the Refunding Trustee to the Trustee, the Treasurer of the City or, at the direction of the Treasurer, A-3 FWWWHOMBO3N3Cx.DOC 85109/19