Ordinance 536-78 - Laserfiche WebLink

. . I On or before the delivery of, the Bonds to the initial pur- chasers thereof the City agrees that it will cause to be delivered to the Refunding Trustee statements setting forth the maturity schedules of the Refunded Obligations by number , amount, date of maturity and interest rates, the amount of interest to be paid on each interest payment date, the amount of principal to be paid on each principal payment date and the amount of the principal to be paid on December 1, 1996 for the Water Revenue Bonds, 1965 , to be redeemed on that date. Section 3. Disbursements by Refunding Trustee. The Re- funding Trustee shall present for payment on the due dates thereof all 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 Ordinance and this agreement. Moneys shall, in a timely manner, be transferred by the Refunding Trustee to the proper officials of the City or, at the direction of such officials, to the paying agent for the Refunded Obliga- tions in amounts sufficient for the payments specified in Section 2 of this agreement. Section 4 . Custody and Safekeeping of Obligations. For as long as any of the Refunded Obligations are outstanding and unpaid, on or before the tenth day of each month following a month in which a payment of principal or interest on the Refunded Obligations falls due, the Refunding Trustee shall render a statement as of such payment date to the proper officials of the City, which statement shall set forth the cash and Acquired Obligations held by the Refunding Trustee, any of such Acquired Obligations which have matured and the amounts received by the Refunding Trustee by reason of such maturity, the interest earned on any of such Acquired Obligations , a list of any investments or reinvestments made by the Refunding Trustee in other obligations and the interest and/or principal derived therefrom, the amounts -3-