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<br />6 <br />SECTION 13.06. Establishment and Application of Project Fund. <br /> <br />(a) Deposit and Application. The Trustee shall establish, maintain and hold in trust a <br />separate fund designated as the “Project Fund,” into which the Trustee shall deposit a portion <br />of the proceeds of sale of the 2018 Bonds in accordance with Section 13.04(b). The Trustee <br />shall disburse amounts in the Project Fund from time to time to pay Project Costs upon <br />submission of Written Requests in substantially the form attached hereto as Appendix C. <br /> <br />(b) Investments. Moneys in the Project Fund shall be invested and deposited in <br />accordance with Section 5.08; provided, that notwithstanding anything to the contrary in Section <br />5.08, interest earnings and profits from the investment of amounts in the Project Fund shall be <br />retained by the Trustee in the Project Fund to be used for the purposes of the Project Fund. <br /> <br />(c) Closing of Project Fund. Upon the determination by the City that the Project has <br />been completed and that no further amounts are required to be disbursed from the Project <br />Fund to pay Project Costs, the City shall file a Written Certificate with the Trustee to that effect. <br />Upon receipt of such Written Certificate, the Trustee shall withdraw all amounts remaining on <br />deposit in the Project Fund, if any, and transfer such amounts to the funds and accounts <br />directed by the City in such Written Certificate. After making such transfer, the Trustee shall <br />close the Project Fund. <br /> <br /> <br />ARTICLE XIV <br /> <br />REDEMPTION OF 2018 BONDS <br /> <br />SECTION 14.01. Terms of Redemption of 2018 Bonds. <br /> <br />(a) Optional Redemption. [[The 2018 Bonds maturing on or before November 1, <br />2026, are not subject to optional redemption prior to their stated maturity. The 2018 Bonds <br />maturing on or after November 1, 2027, are subject to redemption, as a whole or in part at the <br />election of the Authority among maturities on such basis as designated by the Authority and by <br />lot within a maturity, at the option of the Authority, on November 1, 2026, and on any date <br />thereafter, at a redemption price equal to 100% of the principal amount of 2018 Bonds to be <br />redeemed, together with accrued interest thereon to the date fixed for redemption, without <br />premium.]] <br /> <br />The Authority must give the Trustee written notice of its intention to redeem 2018 Bonds <br />under this subsection (a), and the manner of selecting such 2018 Bonds for redemption from <br />among the maturities thereof, in sufficient time to enable the Trustee to give notice of such <br />redemption in accordance with Section 4.03. <br /> <br />(b) Special Mandatory Redemption From Insurance or Condemnation Proceeds. <br />The 2018 Bonds are subject to redemption as a whole, or in part on a pro rata basis among <br />maturities, on any date, from any Net Proceeds required to be used for such purpose as <br />provided in Section 5.07, at a redemption price equal to 100% of the principal amount thereof <br />plus interest accrued thereon to the date fixed for redemption, without premium. To the extent <br />Net Proceeds are not sufficient to redeem all Bonds Outstanding, redemption of 2016 Bonds <br />pursuant to Section 4.01(b) and redemption of 2018 Bonds pursuant to this Section 14.01(b) <br />shall be done on a pro rata basis, as designated in writing by the Authority to the Trustee.