OTHER-2025-034-Third supplement trust agreement

Browse Search

authorized, and (ii) that the issuance of the 2025 Bonds in itself will have no adverse effect on the exemption from Federal income tax with respect to any Outstanding Bonds with respect to which any such interest is intended to be exempt (g) Evidence of the issuance or proposed issuance of one or more lender' s title insurance policies (or an appropriate endorsement to an existing policy) in favor of the Trustee , in an aggregate face amount of insurance equal to the total amount of Outstanding Bonds plus the principal amount of the 2025 Bonds , and including the instrument referenced in (d) above as an insured instrument Section 1 . 07 . Limited Obligation . The 2025 Bonds are limited obligations of the County, as provided and described in Section 4 . 05 of the 2021 Agreement. ' ARTICLE II REDEMPTION I Section 2 . 01 , Redemption Dates and Prices . The 2025 Bonds are subject to redemption only as provided in this Section . The 2025 Bonds maturing on or after October 1 , 2036 , are subject to redemption at the County' s option, in whole or in part on any date on or after October 1 , 2035 , upon payment of the principal amount to be redeemed plus interest accrued to the redemption date, without any prepayment penalty or premium . Section 2 . 02 . Selection of 2025 Bonds for Redemption . ( a) If less than all the 2025 Bonds are to be redeemed, they will be redeemed among maturities in any manner the County chooses . (b ) If less than all of the 2025 Bonds of any maturity are to be redeemed, the Trustee must select the 2025 Bonds to be redeemed by lot; provided , however, that so long as a book- entry system with DTC is used for determining beneficial ownership of 2025 Bonds to be redeemed, if less than all of the 2025 Bonds within a maturity are to be redeemed , the parties agree that DTC may determine which of the 2025 Bonds within the maturity are to be redeemed in accordance with DTC ' s then - current rules and procedures . j 6