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1995-152
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1995-152
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Last modified
3/11/2019 3:08:10 PM
Creation date
3/11/2019 3:00:22 PM
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Resolutions
Resolution Number
1995-152
Approved Date
12/05/1995
Resolution Type
Housing
Entity Name
Escambia County Housing Finance Authority
Interlocal Agreement
Subject
TEFRA single Family Mortgage Revenue Bonds
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incMandatoryluding, the andatory iffier Date. In the sweat that all or a <br />portion of the Bar iso B goods are not FOM&CRetod 00 the Madatory <br />Tender Hate, the redemption price of such Series 9 90ods shall be <br />paid frow am-)unts on deposit in the Series 9 ProC690 Pilid aid the <br />selie_s B subacevunts in the 0eneral Fund atxi the 9Wd Ptud aild in <br />the progtr" Bxpense Fund and Rebate Fl;nI, a!4 available. <br />RedoWtion Provisions <br />Rei PmP iLn Qu Ld IY1;'r__LQ t�i� �id2ldi°yylZi__-Ts+z:dQt 13 <br />("nIiLnol Aedemtic'- (i) The Series B Bonds which have nit <br />been ter,civred and remarketed on any M.and:3tory Tender :late may be <br />redeemed, at the option of the Authnrity, in whole or in part, on <br />any date on or after January 15, 1997 through and .including April <br />1, 1997, from any moneys made available for such purpose, at a <br />rode^ption price equal to the principal amount of nuc -h Series B <br />Bonds or portion- <br />hereyof to be re:dee^ed, plus accrued interest, if <br />any, to this red- mpt ion date, in minimum principal amounts of <br />$5,000. <br />(ii) The Se;ies B Bonds may be tedeemed at the direction of <br />the Authority, i.;; whole or in part on any date, without premium, <br />from moneys in h— Series ii proceeds Fund in the event of a <br />termination of ti;e Series li Investment Agreement as a result of a <br />default under- the Series A investment Agreement. <br />prier to the Mandatory Vander nate, there shall t- W) partial <br />optional r£>.dr-rption or purchase of the Series B Bonds unless the <br />Trustee is provided with a Cash Flow Certificate. The Trustee may <br />conclusively rely upon such Cash Flow ('-ttifiCate in connection <br />wit)t a partial opti )nal redemption , r 1,111-e lease of Series 9 Bonds. <br />,y�r,�rairal Mandatory .ten +-_;;. t.= Series 6 Bends shall be <br />tedeF.* d cn 1q)ri 1, 1997. to the • xt• r r such Series B aot�ds have <br />not F,rc-n remark -l -ed an or prior to such date. No notice of such <br />tnandatozy reder..l:tion toned be given. <br />Ont iQnrl RJMdM -`tea. (i! The Remarketed Series 9 Bonds <br />r.,.0 ur i ng an or atter October 1. 2007 shall be subject to redsyt IOU <br />t ,m source of available funds. at the option of ttae Authority <br />P= in the InS Kure, in his or in part. =xe any date an <br />..!taw April 1. 2007. in alajame eggre"ta prin:-spa► amounts of <br />1'C" Me and iatsgral ares ip l es of 6.000 in esNw a of S 100 . �D oo at <br />be redelptles prices (sarslroesmed as oeromtagas t ps incipal <br />es <br />40WAStet t to tB below. together wit0 bec'swrsdd 1[.'areet to the <br />dsts of redse rt ice ; <br />It <br />
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