1995-152 - Laserfiche WebLink

Home Browse Search

such Bonds shall be canceled anti the amount of such sinking fund redemption pa} -'trent or mandatory ied,mptlon amount, as the c=ase may be, shall thereupon be reduced by the principal amount of such Bonds so purchased and canceled on the date of such redemption as the case may be, of such Bonds so purchased and canceled, provided that no such Rond.s shall be so purchased within the 30 days next preceding the sinking fund payment or mandatory redemption cute. The price paid by the Trustee (excluding accrued interest, if any, but including any brokerage and other charges) for any Bond purchased pursuant to this paragraph shall not exceed the principal amount thereof due on the date of such redemption; the Trustee, at the Authority's direction, shall also pay (from the General Fund) accrued interest, if any, on any such Bond to the date of purchase. Subject to the above limitations, the Authority may direct the Trustee to purchase Bonds at such times, for such prices, in such amounts and in such manner as the Authority in its discretion may determine and as may be.. possible with Cite amount of moneys available in the principal Account or the General Fund, as the case may be. THE SERIES B BONDS Description of the Series B Bonds The Series B Bonds will be dated the date of their authentication and delivery, and shall bear interest at the interest rate set forth on the inside cover hereof from their dated date to, but not including, April 1, 1997, or to such earlier Business Day on or aft=er January 15, 199"7 designated to the Remarketing Agent (as defined below) by the Authority as a mandatory tender date (a "hfandatory Tender Date"), as described below. On and after the Mandatory Tender Bates, the Remarketed Series B Bonds shall bear interest at the rates established at the time of the remarketing thereof. Interest on the series B Bonds is payable on October 1, 11996 and on April 1, 199'7 or on any earlier Mandatory Tender Date. rcm and after any t?aud.ttuiy 'render Date, interest on the Remarketeri. Seiic-s B Bonds will be p,,y.tble on April 1 and October 1 of each year in which the R�.marketed S.11 ies B Bond:: are c,utstandin"3 as prcvid,sd in thy• 111,1-10111e. This Official Statement is not intended to provide any information to prospective owners of the Remarketed Series B Honda after the Mandatory Tender Dates. Purchasers of Remarketed Series B Bonds after the Mandatory Tender Dates should rely on offering materials made available by the Authorit=y at that time.