My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
1995-083
CBCC
>
Resolutions
>
1990'S
>
1995
>
1995-083
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
8/22/2018 12:16:53 PM
Creation date
8/22/2018 12:10:55 PM
Metadata
Fields
Template:
Resolutions
Resolution Number
1995-083
Approved Date
07/11/1995
Resolution Type
General Obligation Bonds
Entity Name
Indian River County
Subject
$15,000,000 Bond sale
Document Relationships
1995-063
(Agenda)
Path:
\Resolutions\1990'S\1995
1995-075
(Agenda)
Path:
\Resolutions\1990'S\1995
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
52
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
(D) <br />As long as the Municipal Bond Insurance Policy shall be <br />in full force and effect, the Issuer and Paying Agent agree to <br />comply with the following provisions: <br />(a) At least one (1) day prior to all Interest Payment <br />Dates the Paying Agent will determine whether there will be <br />sufficient funds in the funds and accounts to pay the <br />principal of or interest on the Bonds on such Interest Payment <br />Date. If the Paying Agent determines that there will be <br />insufficient funds in such funds or accounts, the Paying Agent <br />shall so notify AMBAC Indemnity. Such notice shall specify <br />the amount of the anticipated deficiency, the Bonds to which <br />such deficiency is applicable and whether such Bonds will be <br />deficient as to principal or interest, or both. If the Paying <br />Agent has not so notified AMBAC Indemnity at least one (1) day <br />prior to an Interest Payment Date, AMBAC Indemnity will make <br />payments of principal or interest due on the Bonds on or <br />before the first (1st) day next following the date on which <br />AMBAC Indemnity shall have received notice of nonpayment from <br />the Paying Agent. <br />(b) The Paying Agent shall, after giving notice to AMBAC <br />Indemnity as provided in (a) above, make available to AMBAC <br />Indemnity and, at AMBAC Indemnity's direction, to the United <br />States Trust Company of New York, as insurance trustee for <br />AMBAC Indemnity or any successor insurance trustee (the <br />"Insurance Trustee"), the registration books of the Issuer <br />maintained by the Paying Agent and all records relating to the <br />funds and accounts maintained under the Resolution. <br />(c) The Paying Agent shall provide AMBAC Indemnity and <br />the Insurance Trustee with a list of registered owners of <br />Bonds entitled to receive principal or interest payments from <br />AMBAC Indemnity under the terms of the Municipal Bond <br />Insurance Policy, and shall make arrangements with the <br />Insurance Trustee (i) to mail checks or drafts to the <br />registered owners of Bonds entitled to receive full or partial <br />interest payments from AMBAC Indemnity and (ii) to pay <br />principal upon Bonds surrendered to the Insurance Trustee by <br />the registered owners of Bonds entitled to receive full or <br />partial principal payments from AMBAC Indemnity. <br />(d) The Paying Agent shall, at the time it provides <br />notice to AMBAC Indemnity pursuant to (a) above, notify <br />registered owners of Bonds entitled to receive the payment of <br />principal or interest thereon from AMBAC Indemnity (i) as to <br />the fact of such entitlement, (ii) that AMBAC Indemnity will <br />remit to them all or a part of the interest payments next <br />coming due upon proof of Bondholder entitlement to interest <br />h <br />
The URL can be used to link to this page
Your browser does not support the video tag.