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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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Redempt i c n ('* x i c•Jfs <br />_1DAI-es _-ISiS: I usyal <br />April 1, 2007 through March 't1, 2008 1021 <br />April 1, 2000 through Maxch 31, 2009 101 <br />April 1, 20o,� and thereafter i00 <br />(ii) Th^ Re^+arketed Series B Rol -,is r -ay, at: the direction of <br />the Authority, bP redee*ned in whole at any time on c:r after April <br />1, 2007, at the rt ciempt.icn prices provided in subparagraph ( i ) <br />above, if. proceeds of the :;alt: of Series B G1YP4A Certificates ani <br />Fannie Nae Securities, together with other moneys cn deposit with <br />the Trustee, will t-ae sufficient to redeem all of the Series B Bands <br />in accordance with the Indenture and to pay the redemption premium, <br />if any, expenses of such redemption, and any unpaid Trustee Fees, <br />Authority's Fees anti Rebate Anounts (as defined in the indenture) - <br />The Trustee is per -fitted to sell the GNMA Certificates and Fannie <br />Mae Securities cny as provided in the Indenture. See "THE <br />INDENTURE -- Discharge of title Indenture" herein. <br />(iii) At the d_rection of the Authority, the Remarketed Series <br />B Bonds may be retl•emed in whole or in part on any date, without <br />premium, from money.= in the Series B Acquisition Fund in the event <br />of a default by the series B Acquisition Fund Investment Agreement <br />Provider under the Series B Acquisition Fund Investment Agreement. <br />Nandato_1 �d<, ion. The Remarketed Series B Bonds shall be <br />subject to mandate:ry iederption in whole or in part in minimum <br />aggregate principal amounts of $25,000 (except as otherwise <br />provided in the Indenture) and integral multiples of $5,000 in <br />-xces€a of 125,000, .at a i-demption price equal to 100% of the <br />principal amount thereof, without premium, plus accrued interest to <br />the date of redeeeption from and to th•- extent there are deposits in <br />the series B subaccount of the I'rinci.pal Account from Principal <br />Prepaysnent.s and Excess Revenues (or from other sources as provided <br />in the Indenture) on any Interest Payment Date on or after a date <br />or dates specified in the Indenture. <br />In additi(in. if c.;i any data the sun of money (other than <br />moneys derived fres th- sale of tiortgage Certificates) on deposit <br />in the subaccounts of the General Fund. the Bond Fund iancluding <br />the Principal Account, the Interest Account and the Reserve Account <br />ttorain), the ps :r.,to Bqpense Fund and the Rabata rand solely <br />r-elat ing to the a i ids, equals or exceeds the aggregate <br />principal amount Ito outstanding Bottom a sonde plus uWaid <br />accrued intereas + rr:r rsdsspcLon date plus the accruedmId <br />Trust** r # , . 1 , :.w <br />;•w a" Author it y /gee any unp ld halm <br />d <br />be redevvA f :,, ,stAck wossya 409 true other soitroes to mmp other <br />peal to sus* moony e ) as t most date tog rots! sot Eos ems be <br />Is~, is goal*. at a re4Wpt6as P6soe Aral to toN ed the <br />P: saciprl sW104400t thereof- Witk"t Ptesuase, Plus Seer"od ►atereW to <br />t00 rafttos date <br />TWO esus( sat ed 006 600 p rmi <br />M"l l In ewb)om 1 u a ft"ON'Locy a tam to aArslo mr 40 rrt at a <br />16 <br />
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