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for the credit of the Bond Amortization Account shall be applied <br />® to the retirement of Term Bonds as follows: <br />(1) Subject to the provisions of paragraph (3) <br />® <br />below, the Issuer shall endeavor to purchase Term Bonds then <br />outstanding, at the most advantageous price obtainable with <br />a reasonable diligence, such price not to exceed the principal of <br />such Term Bonds and the redemption premium which would be appli- <br />6 cable if the money applied to such purchase were otherwise <br />applied to the redemption of Term Bonds under paragraphs (2) or <br />(3) below. The Issuer shall pay the interest accrued on such <br />Term Bonds to the date of delivery thereof from the Sinking Fund <br />and the purchase price from the Bond Amortization Account, but no <br />such purchase shall be made by the Issuer within the period of 45 <br />days immediately preceding any interest )ayment date on which <br />such Term Bonds are subject to call for redemption, except from <br />money in excess of the amounts set aside or deposited for the <br />redemption of Term Bonds. <br />(2) Subject to the provisions of paragraph (3) <br />below, the Issuer shall call for redemption on each interest <br />payment date on which Term Bonds are subject to redemption from <br />money in the Bond Amortization Account, such amount of Term Bonds <br />then subject to redemption as will exhaust the money then held in <br />the Bond Amortization Account as nearly as may be practicable. <br />Prior to calling Term Bonds for redemption, the Issuer shall <br />withdraw from the Sinking Fund and from the Bond Amortization <br />Account and set aside in separate accounts for deposit with the <br />paying agents the respective amounts required for paying the <br />interest on the Term Bonds so called for redemption. <br />(3) Money in the Bond Amortization Account shall <br />be applied by the Issuer in each Bond Year to the retirement of <br />Term Bonds then outstanding in the following order: <br />(i) The Term Bonds of each series to the <br />extent of the Amortization Installment, if any, for such Bond <br />Year for the Term Bonds of each such series then outstanding and, <br />-25- <br />