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OTHER-2024-031-Trust Agreement
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OTHER-2024-031-Trust Agreement
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Last modified
10/24/2024 10:55:47 AM
Creation date
10/24/2024 10:42:03 AM
Metadata
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Template:
BOCC
Date
5/21/2024
Meeting Type
Business
Document Type
Others
Agenda Item
6-B
Document Relationships
Agenda 05-21-24; 6-b - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various Capital Investment Plan Projects
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2024\Agenda - 05-21-2024 Business Meeting
Agenda for May 21, 2024 BOCC Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2024\Agenda - 05-21-2024 Business Meeting
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(g) A County Certificate directing the Trustee as to the application of the <br /> proceeds from the sale of the 2024 Bonds <br /> (h ) Evidence of the issuance or proposed issuance of one or more lender ' s <br /> title insurance policies ( or an appropriate endorsement to an existing policy) in <br /> Favor of the Trustee , in an aggregate face amount of insurance equal to the total <br /> amount of Outstanding Bonds plus the principal amount of the 2024 Bonds , and <br /> including the instrument referenced in ( d) above as an insured instrument <br /> Section 1 . 07 . Limited Obligation . The 2024 Bonds are limited obligations <br /> of the County, as provided and described in Section 4 . 05 of the 2021 Agreement, <br /> ARTICLE II <br /> REDEMPTION <br /> i <br /> Section 2 . 01 . Redemption Dates and Prices . The 2024 Bonds are subject <br /> to redemption only as provided in this Section . <br /> o to t <br /> a Optional Redem tton - The 2024 Bonds maturing on r after October 1 <br /> ( ) p p g <br /> 2035 are subject to redemption at . the County' s option, in whole or in part on any <br /> date on or after October 1 , 2034 , upon payment of the principal amount to be <br /> redeemed plus interest accrued to the redemption date , without any prepayment <br /> penalty or premium . <br /> (b) Mandatory Sinking Fund Redemption - ( 1) The Series A Bonds maturing <br /> on October 1 , 2041 and October 1 , 2044 are required to be redeemed in part prior <br /> to maturity pursuant to the terms of the sinking fund requirements of Section 2 . 05 <br /> at a redemption price equal to the principal amount to be redeemed plus interest <br /> accrued to the redemption date , without any prepayment penalty or premium , <br /> The Series B Bonds maturing on October 1 , 2035 , October 1 , 2037 , and <br /> October 1 , 2039 are required to be redeemed in part prior to maturity pursuant to <br /> the terms of the sinking fund requirements of Section 2 . 05 at a redemption price <br /> equal to the principal amount to be redeemed plus interest accrued to the <br /> redemption date , without any prepayment penalty or premium . <br /> 7 <br />
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