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Ordinance 1818-91
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Ordinance 1818-91
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5/9/2017 10:46:32 AM
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Ordinances
Ordinance Number
1818-91
Date
10/2/1991
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interest on the principal component of the Lease Payments evidenced <br /> by the Certificate, in any denomination authorized by this <br /> Agreement. <br /> Section 3 . 03 . Notice of Prepayment. Unless waived by any <br /> owner of Certificates to be prepaid, official notice of any such <br /> prepayment shall be given by the Trustee by mailing a copy of an <br /> official prepayment notice by first class mail at least 30 days and <br /> not more than 45 days prior to the date fixed for prepayment to the <br /> registered Owner of the Certificate or Certificates to be prepaid <br /> at the address shown on the Certificate Register or at such other <br /> address as is furnished in writing by such registered Owner to the <br /> Trustee. <br /> All official notices of prepayment shall be dated and shall <br /> state: <br /> (a) the prepayment date; <br /> (b) the prepayment price; <br /> (c) if fewer than all Outstanding Certificates are to <br /> be prepaid, the identification (and, in the case of partial <br /> prepayment, the respective principal amounts) of the Certificates <br /> to be prepaid; <br /> (d) that on the prepayment date the prepayment price <br /> will become due and payable upon each such Certificate or portion <br /> thereof called for prepayment, and that interest on the principal <br /> component of Lease payments evidenced thereby shall cease to accrue <br /> from and after said date; and <br /> (e) the place where such Certificates are to be surren- <br /> dered for payment of the prepayment price, which place of payment <br /> shall be the principal office of the Trustee. <br /> On or prior to the Business Day immediately preceding any <br /> prepayment date, the City in accordance with the Lease shall <br /> deposit with the Trustee an amount of money sufficient to pay the <br /> prepayment price of the Lease Payments to be prepaid on that date. <br /> Official notice of prepayment having been given as aforesaid, <br /> the principal component of the Lease Payments evidenced by the <br /> Certificates or portions of Certificates so to be prepaid shall, <br /> on the prepayment date, become due and payable at the prepayment <br /> price therein specified, and from and after such date (unless the <br /> City shall default in the payment of the prepayment price) such <br /> principal component of the Lease Payments evidenced by Certificates <br /> or portions of Certificates shall cease to bear interest. Upon <br /> surrender of such Certificates for prepayment of Lease Payments in <br /> -10- D0T437 91/09/24 <br />
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