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01/31/2023
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01/31/2023
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Last modified
3/16/2023 1:11:51 PM
Creation date
3/16/2023 1:01:11 PM
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Meetings
Meeting Type
BCC Regular Meeting
Document Type
Agenda Packet
Meeting Date
01/31/2023
Meeting Body
Board of County Commissioners
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If Bonds are not to be redeemed or paid within 60 days after any such defeasance described <br />in this Section 8.01, the Issuer shall cause the Registrar to mail a notice to the Holders of such <br />Bonds that the deposit required by this Section 8.01 of moneys or Federal Securities has been made <br />and said Bonds are deemed to be paid in accordance with the provisions of this Section 8.01 and <br />stating such maturity date upon which moneys are to be available for the payment of the principal <br />of and interest on or redemption price of said Bonds. Failure to provide said notice shall not affect <br />the Bonds being deemed to have been paid in accordance with the provisions of this Section 8.01. <br />Notwithstanding anything herein to the contrary, in the event that the principal of or interest <br />due on the Bonds shall be paid by a Credit Facility Provider, such Bonds shall remain Outstanding, <br />shall not be defeased or otherwise satisfied and shall not be considered paid by the Issuer, and the <br />pledge of the Ad Valorem Taxes and all covenants, agreements and other obligations of the Issuer <br />to the Bondholders shall continue to exist and Credit Facility Provider shall be subrogated to the <br />rights of such Bondholders. <br />[Remainder of page intentionally left blank] <br />37 <br />163 <br />
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