Finance Highlights 2011 1202 - Laserfiche WebLink

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Trustee may charge the Owner a reasonable sum for each new Bond issued upon any exchange and the Trustee may require the payment by the Owner requesting such exchange of any tax or other governmental charge required to be paid with respect to such exchange. The Trustee is not required to register the transfer or exchange of any Bond during the period the Trustee is selecting Bonds for redemption or any Bond selected for redemption. Redemption of the Bonds (Optional Make -Whole Redemption. The Bonds are subject to redemption prior to their stated maturity, at the option of the City, in whole or in part (and if in part, to be selected as described below), on any Business Day, at the respective Make -Whole Redemption Price (as defined below) for such maturity. The "Make -Whole Redemption Price" for a particular maturity means the greater of: (i) 100% of the initial public offering price of such maturity, but in no case less than principal amount of the Bonds of such maturity to be redeemed, or (ii) the sum of the present value of the remaining scheduled payments of principal of and interest on the Bonds of such maturity to be redeemed, not including any portion of those payments of interest accrued and unpaid as of the date on which the Bonds of such maturity are to be redeemed, discounted to the date on which the Bonds are to be redeemed on a semi- annual basis, assuming a 360 -day year consisting of twelve 30 -day months, at the "Comparable Treasury Issue Rate" plus L] basis points, plus, in each case, accrued and unpaid interest with respect to the Bonds of such maturity to be redeemed on the redemption date. The Make -Whole Redemption Price will be determined on the Valuation Date by an independent accounting firm, investment banking firm, or financial advisor retained by the City, at the City's expense, to make such calculation. The Trustee and the City may conclusively rely on such determination and will not be liable for such reliance. For the purpose of determining the Make -Whole Redemption Price, the definitions of "Comparable Treasury Issue ", "Comparable Treasury Issue Rate" and "Valuation Date" set forth in the Indenture shall apply. Optional Redemption at Par. The Bonds maturing on or after June 1, 20_ are also subject to redemption at the option of the City prior to their respective maturity dates in whole or in part (and if in part, to be selected as described in the Indenture), on any Business Day on or after June 1, 20 at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed, plus accrued but unpaid interest to the date fixed for redemption, without premium. The City shall give the Trustee written notice of its intention to redeem Bonds under the Indenture, and the manner of selecting such Bonds for redemption from among the maturities thereof and the amount of the redemption premium thereon, at least 45 days prior to the date set for redemption to enable the Trustee to give notice of such redemption in accordance with the Indenture.] 5