Orange County NC Website
Browse       Search
Section 2.03. Redemption Notices. (a) The Trustee, at the County's <br /> direction, upon being satisfactorily indemnified with respect to expenses, and with <br /> at least two Business Days' notice, will send notice of redemption no less than 30 <br /> nor more than 60 days prior to the redemption date, as follows: <br /> (i) With respect to any 2021 Bonds being called for redemption for which <br /> DTC or its nominee is the registered owner, to DTC, in whatever manner may be <br /> provided for under DTC's standard operating rules as then in effect (and if the <br /> Trustee is unable to determine those rules, by registered or certified mail, return <br /> receipt requested); <br /> (ii) With respect to any 2021 Bonds for which no book-entry-only system <br /> of registration is in effect, to each of the registered owners of those 2021 Bonds at <br /> their addresses as shown on the Trustee's registration books, by registered or <br /> certified mail; and <br /> (iii) In any case, both (A) to the MSRB for posting on the EMMA System and <br /> (B) to the LGC. <br /> Notwithstanding anything to the contrary in this Agreement, the County <br /> acknowledges and agrees that the Trustee is not acting as the disclosure or <br /> dissemination agent for purposes of Rule 15c2-12 in connection with any notice to <br /> be posted with the MSRB via the EMMA System. <br /> Failure to give any notice specified in (i) or (ii), as applicable, or any defect in <br /> that notice, will not affect the validity of any proceedings for the redemption of any <br /> 2021 Bonds with respect to which no failure has occurred. Failure to give any notice <br /> specified in (iii), or any defect in that notice, will not affect the validity of any <br /> proceedings for the redemption of any 2021 Bonds with respect to which the notice <br /> specified in (i) or (ii) is correctly given. Any notice mailed as provided in this <br /> Agreement will conclusively be presumed to have been given regardless of whether <br /> received by any Owner. <br /> (b) Any redemption notice, except a notice given in respect of a mandatory <br /> sinking fund redemption, may state that the redemption to be effected is <br /> conditioned upon -- <br /> g <br />