1985-075 - Laserfiche WebLink

Home Browse Search

0 (4) The Issuer shall deposit into the Bond Amorti- zation Fund Amortization Installments for the amortization of the principal of the Current Interest Paying Term Bonds of any series, and for the payment of the Compounded Amounts for the Capital Appreciation Term Bonds of any series, together with any defi- ciencies for prior required deposits into the Bond Amortization Fund, such Amortization Installments to be in such amounts (or calculable amounts) and to be due on such date or dates and in such years as shall be determined by resolution of the governing body of the Issuer at or prior to the sale of. the Bonds of such series. With respect to Capital Appreciation Term Bonds, Soub Paragra by ( 1) through ( 3 ) above shall not apply. After all other required payments have been made, the Issuer shall pay from the Revenue Fund all expenses in connection with any such purchase or redemption. -33- available in such Fiscal Year shall not be sufficient therefor, 40 then in proportion to the Amortization Installment, if any, for such Fiscal Year for the Terra Bonds of each such series then out- standing, provided, however, that if the 'term Bonds of any series shall not then be subject to redemption from moneys in the Bond Amortization Fund and if the Issuer shall at any time be unable to exhaust the moneys applicable to the Term Bonds of such series S under the provisions of this clause (i) in the purchase of such Term Bonds under the provisions of paragraph (1) above, such moneys or the balance of such moneys, as the case may be, shall be re- tained in the Bond Amortization Fund and, as soon as it is feasible, applied to the retirement of Term Bonds of such series; and (ii) any balance then remaining, other than moneys retained under clause (i) of this paragraii, shall be applied to the retirement of, the Bonds as the Issuer in its sole discretion shall. determine, but only in the case of the redemption of Bonds of any series, in such amounts and on such terms as may be pro- vided in the resolution authorizing the issuance of the Bonds of such series. (4) The Issuer shall deposit into the Bond Amorti- zation Fund Amortization Installments for the amortization of the principal of the Current Interest Paying Term Bonds of any series, and for the payment of the Compounded Amounts for the Capital Appreciation Term Bonds of any series, together with any defi- ciencies for prior required deposits into the Bond Amortization Fund, such Amortization Installments to be in such amounts (or calculable amounts) and to be due on such date or dates and in such years as shall be determined by resolution of the governing body of the Issuer at or prior to the sale of. the Bonds of such series. With respect to Capital Appreciation Term Bonds, Soub Paragra by ( 1) through ( 3 ) above shall not apply. After all other required payments have been made, the Issuer shall pay from the Revenue Fund all expenses in connection with any such purchase or redemption. -33-