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AG 2003 07 21
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AG 2003 07 21
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Last modified
3/3/2006 9:37:57 AM
Creation date
11/27/2017 11:41:27 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/21/2003
Board
Board of Commissioners
Meeting Type
Regular
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the event that Certificated Bonds are outstanding, each such notice to the registered owners <br /> thereof shall also set forth, if less than all of the Bonds of any maturity then outstanding shall be <br /> called for redemption, the distinctive numbers and letters, if any, of such Bonds to be redeemed <br /> and, in the case of any Bond to be redeemed in part only, the portion of the principal amount <br /> thereof to be redeemed. If any Bond is to be redeemed in part only, the notice of redemption <br /> shall state also that on or after the redemption date, upon surrender of such Bond, a new Bond or <br /> Bonds in principal amount equal to the unredeemed portion of such Bond will be issued. <br /> <br /> If any Bonds or portions thereof are to be redeemed, the Bond Registrar shall open a <br /> separate account for the sole benefit of the bondholders whose Bonds are being redeemed, which <br /> account may be maintained by the Bond Registrar or by an agent. On or before the date fixed for <br /> redemption, moneys shall be deposited with the Bond Registrar in its capacity as such for deposit <br /> in such account to pay the principal of and the redemption premium, if any, on the Bonds or <br /> portions thereof called for redemption as well as the interest accruing thereon to the redemption <br /> date thereof. <br /> <br /> On the date fixed for redemption, notice having been given in the manner and under the <br />conditions hereinabove provided, the Bonds or portions thereof so called for redemption shall be <br />due and payable fi:om the moneys required to be deposited in such account at the redemption <br />price provided therefor, plus accrued interest to such date. If moneys sufficient to pay the <br />redemption price of the Bonds or portions thereof to be redeemed, plus accrued interest thereon <br />to the date fixed for redemption, are held by the Bond Registrar in such account in trust for the <br />registered owners of Bonds or portions thereof to be redeemed, interest on the Bonds or portions <br />thereof called for redemption shall cease to accrue, such Bonds or portions thereof shall cease to <br />be entitled to any benefits or security under this resolution or to be deemed outstanding, and the <br />registered owners of such Bonds or portions thereof shall have no rights in respect thereof except <br />to receive payment of the redemption price thereof, plus accrued interest to the date of <br />redemption. <br /> <br /> If a portion of a Bond shall be selected for redemption, the registered owner thereof or his <br />attorney or legal representative shall present and surrender such Bond to the Bond Registrar for <br />payment of the principal amount thereof called for redemption and the redemption premium, if <br />any, on such principal amount, and the Bond Registrar shall authenticate and deliver to or upon <br /> <br />15 <br /> <br /> <br />
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