Laserfiche WebLink
<br />13 <br />will be credited towards and will reduce the par amount of such Bonds required to be redeemed <br />on the next succeeding September 1. <br /> <br />Notice of Redemption. The Trustee on behalf of and at the expense of the Successor <br />Agency will mail (by first class mail, postage prepaid) notice of any redemption at least 30 but <br />not more than 60 days prior to the redemption date, to (i) the Owners of any 2014 Bonds <br />designated for redemption at their respective addresses appearing on the Registration Books, <br />and (ii) to the Securities Depositories and to the Information Services; but such mailing will not <br />be a condition precedent to a redemption and neither failure to receive a redemption notice nor <br />any defect in the redemption notice will affect the validity of the proceedings for the redemption <br />of such 2014 Bonds or the cessation of the accrual of interest on the 2014 Bonds to be <br />redeemed. <br /> <br />The redemption notice will state the redemption date and the redemption price, will state <br />that such redemption is conditioned upon the timely delivery of the redemption price by the <br />Successor Agency to the Trustee for deposit in the Redemption Account, will designate the <br />CUSIP number of the 2014 Bonds to be redeemed, state the individual number of each Bond to <br />be redeemed or state that all Bonds between two stated numbers (both inclusive) or all of the <br />2014 Bonds Outstanding are to be redeemed, and will require that such Bonds be then <br />surrendered at the Principal Corporate Trust Office of the Trustee for redemption at the <br />redemption price, giving notice also that further interest on the 2014 Bonds to be redeemed will <br />not accrue from and after the redemption date. <br /> <br />The Successor Agency has the right to rescind any notice of the optional redemption of <br />Bonds by written notice to the Trustee on or prior to the date fixed for redemption. Any notice of <br />redemption will be cancelled and annulled if for any reason funds will not be or are not available <br />on the date fixed for redemption for the payment in full of the 2014 Bonds then called for <br />redemption, and such cancellation will not constitute an Event of Default. The Successor <br />Agency and the Trustee have no liability to the Owners or any other party related to or arising <br />from such rescission of redemption. The Trustee will mail notice of such rescission of <br />redemption in the same manner as the original notice of redemption was sent. <br /> <br />Upon the payment of the redemption price of 2014 Bonds being redeemed, each check <br />or other transfer of funds issued for such purpose will, to the extent practicable, bear the CUSIP <br />number identifying, by issue and maturity, the 2014 Bonds being redeemed with the proceeds of <br />such check or other transfer. <br /> <br />Partial Redemption of Bonds. In the event only a portion of any 2014 Bond is called <br />for redemption, then upon surrender of such Bond the Successor Agency will execute and the <br />Trustee will authenticate and deliver to the Owner thereof, at the expense of the Successor <br />Agency, a new 2014 Bond or 2014 Bonds of the same interest rate and maturity, of authorized <br />denominations, in aggregate principal amount equal to the unredeemed portion of the Bond to <br />be redeemed. <br /> <br />Effect of Redemption. From and after the date fixed for redemption, if funds available <br />for the payment of the redemption price of and interest on the 2014 Bonds so called for <br />redemption have been duly deposited with the Trustee, the 2014 Bonds so called will cease to <br />be entitled to any benefit under the Indenture other than the right to receive payment of the <br />redemption price and accrued interest to the redemption date, and no interest will accrue <br />thereon from and after the redemption date specified in such notice. <br />