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Common use of Principal Amount Clause in Contracts

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITY, a joint powers authority organized and existing under the laws of the State of California (the “Authority”), for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above or registered assigns (the “Registered Owner”), on the Maturity Date identified above (subject to any right of prior redemption hereinafter mentioned), the Principal Amount identified above in lawful money of the United States of America; and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:

Appears in 1 contract

Samples: Indenture of Trust

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYregistered owner identified above, or registered assigns, as the registered owner of this Pledged Revenue Obligation, Series 2019 (this “Obligation”) is the owner of all of the interests in the rights to receive certain “Payments” under and defined in that certain Second Purchase Agreement, dated as of August 1, 2019 (the “Purchase Agreement”), by and between Zions Bank, a joint powers authority organized division of ZB, National Association (the “Trustee”), and existing the City of Sierra Vista, Arizona, a municipal corporation under the laws of the State of California Arizona (the “AuthorityCity”), for value received, hereby promises to pay (but only out of the Revenues which Payments and other funds hereinafter referred to) to rights and interests under the Registered Owner identified above or registered assigns Purchase Agreement are held by the Trustee in trust under that certain Second Trust Agreement, dated as of August 1, 2019 (the “Registered OwnerTrust Agreement”), by and between the City and the Trustee. The Trustee maintains a corporate trust office for payment and transfer of this Obligation (the “Designated Office”). The registered owner of this Obligation is entitled to receive, subject to the terms of the Purchase Agreement, on the Maturity payment date set forth above, the principal amount hereof and to receive semiannually on January 1 and July 1 of each year commencing 1, 2019 (the “Interest Payment Dates”), until payment in full of the portion of the Payments designated principal or prepayment prior thereto, the portion of the Payments designated as interest coming due during the period commencing on the last date on which interest was paid and ending on the day prior to the Interest Payment Date identified or, if no interest has been paid, from the Dated Date specified above. Said interest is the result of the multiplication of said principal by the interest rate per annum set forth above (subject to any right adjustment upon the occurrence of prior redemption an Event of Default (as such term and all other undefined terms used herein are defined in the Trust Agreement) or an Event of Taxability as provided in the Trust Agreement; provided, however, that in neither case nor both cases combined may such increase in interest rate(s) result in the savings threshold required by the Resolution (as hereinafter mentioneddefined) to not be satisfied). Interest shall be calculated on the basis of a 360-day year composed of twelve (12) months of thirty (30) days each. If an Event of Taxability shall occur, the Gross-Up Amount shall be paid (limited as described above, if applicable). Principal Amount identified above and interest represented by this Obligation are payable in lawful money of the United States of America; America as provided in the Trust Agreement and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bondother amounts due with respect hereto. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check records of the Trustee mailed by first class mail on each Interest Payment Date prevail in the event of discrepancy as to payment. The Trustee has no obligation or liability to the Registered Owner hereof at registered owner of this Obligation for the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made or principal represented by wire transfer this Obligation. The Trustee’s sole obligations are to an account in administer, for the United States benefit of America to any the registered owner of Bonds this Obligation, the various funds and accounts established pursuant to the Trust Agreement. (The recitals, statements, covenants and representations made in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose this Obligation shall be taken and construed as of the close of business made by and on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none part of the City, said State and not by the Trustee, and the Trustee does not assume, and shall not have, any responsibility or obligation for the correctness of any of its political subdivisions is liable hereonthereof.) This Obligation has been executed and delivered by the Trustee pursuant to the terms of, and for the purposes described in, the Trust Agreement. The Authority has no taxing power. This Bond City is one of a duly authorized issue of bonds to enter into the Purchase Agreement and the Trust Agreement under the laws of the Authority designated State of Arizona and by resolution of the “Belvedere Public Financing Authority 2016 Revenue Bonds” Mayor and Council of the City adopted on June 27, 2019 (the “BondsResolution”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture Purchase Agreement and all indentures supplemental thereto the Trust Agreement (copies of which are on file at the Designated Office) for a description of further definitions, the terms, covenants and provisions pursuant to which this Obligation is delivered, the rights thereunder of the owners registered owner of this Obligation, the Bondsterms under which the Trust Agreement or the Purchase Agreement may be modified or supplemented, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the security for, and the rights and obligations of the Authority thereunder; and all of City under the terms of the Indenture are hereby incorporated herein and constitute Purchase Agreement (including with respect to certain obligations secured on a contract between the Authority and the Registered Owner hereofsenior lien basis by, and to be secured on a parity lien basis with, the security for the Payments and to certain limitations on such security), to all of the provisions of which Indenture Purchase Agreement and Trust Agreement the Registered Owner hereofregistered owner of this Obligation, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under (To the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 extent and in the manner permitted by the terms of the Government Code Trust Agreement, the provisions of the State Trust Agreement and the Purchase Agreement may be amended by the parties thereto with the written consent of California the owners of a majority of the obligations of which this Obligation is one (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay may be amended without such consent under certain circumstances but in no event such that the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale interests of the Local owners of the Obligations are adversely affected, provided that no such amendment shall impair the right of any owner to the Authority toward the defeasance and refunding receive in any case such owner’s proportionate share of assessment bonds previously issued by the City. any Payment thereof in accordance with this Obligation.) The obligation of the City to make payments the Payments does not represent or constitute a general obligation of principal the City for which the City is obligated to levy or pledge any form of taxation nor does the obligation to make the Payments under the Purchase Agreement constitute an indebtedness of the City, the State of Arizona or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction or otherwise. Neither the Trustee nor the registered owners of the Obligations shall have any right under any circumstances to accelerate the payment date of the Obligations or otherwise declare any of the Payments not then past due or in default to be immediately due and payable; however, the amount of each of the Payments denominated as and comprising interest on shall be calculated at the Local Obligations is Default Rate upon the occurrence of an Event of Default. (This Obligation represents an interest in a limited obligation secured of the City (as described herein), and no member of the Mayor and Council, officer or agent, as such, past, present or future, of the City shall be personally liable for the payment hereof.) This Obligation is executed and delivered only in fully registered, physically certificated form and shall not be transferable or exchangeable, except as set forth thereinprovided in the Trust Agreement. This Obligation may be exchanged for Obligations in authorized denominations as described in the Trust Agreement. This Obligation is transferable by the registered owner hereof, in person or by his attorney duly authorized in writing, at the Designated Office, but only in the manner, subject to the limitations and upon payment of the charges provided in the Trust Agreement and upon surrender and cancellation of this Obligation. Upon such transfer a new Obligation, for the principal amount remaining payable at maturity will be delivered to the transferee in exchange therefor. The Bonds maturing on City and the Trustee may treat the registered owner hereof as the absolute owner hereof for all purposes, whether or before September 2not this Obligation shall be overdue, 20__and the City and the Trustee shall not be affected by any notice to the contrary. The Trustee may require a registered owner, are among other things, to furnish appropriate endorsements and transfer documents and to pay any taxes or governmental charges required by law in connection with the exchange or transfer. The registered owner of this Obligation shall have no right to enforce the provisions of the Trust Agreement or the Purchase Agreement or to institute any action to enforce the covenants thereof, or to take any action with respect to a default thereunder or hereunder, or to institute, appear in or defend any suit or other proceedings with respect thereto, except as provided in the Trust Agreement. Principal represented by the Obligation is not subject to optional call prepayment. Principal represented by this Obligation shall be prepaid on January 1 of the years indicated and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, principal amounts indicated at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with thereof plus interest accrued interest thereon to the date fixed for redemptionof prepayment, but without premium. The Authority shall deliver to : It is hereby certified, recited and declared that all conditions, acts and things required by the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment Constitution and laws of the Local Obligations State of Arizona to happen, to be done, to exist and redemption to be performed precedent to and in the execution and delivery of Bondsthis Obligation have happened, have been done, do exist and have been performed in regular and due form and time as required by law. This Obligation shall not be entitled to any security or benefit under the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected Trust Agreement until executed by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:Trustee.

Appears in 1 contract

Samples: Trust Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING COACHELLA WATER AUTHORITY, a joint exercise of powers authority duly organized and existing under the laws of the State of California (the “Authority”), for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified named above or registered assigns (the “Registered Owner”), on the Maturity Date identified stated above (subject to any right of prior redemption hereinafter mentionedprovided for), the Principal Amount identified stated above in lawful money of the United States of America; , and to pay interest thereon at the Interest Rate identified above in like lawful money from the February 1 or August 1 (each an “Interest Payment Date (as hereinafter definedDate”) next preceding the date of authentication hereof, unless said date of this Bond (unless this Bond authentication is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear such interest is payable from such Interest Payment Datedate of authentication, or and unless this Bond said date of authentication is authenticated on or prior to January 16before 15, 201620 , in which event it shall bear such interest is payable from the Dated Date identified stated above; provided, however, that if, if at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date date to which interest hereon has previously been paid or made available for payment)payment on this Bond in full at the Interest Rate per annum stated above, payable semiannually on September 2 and March 2 in each yearInterest Payment Date, commencing March 21, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption 20 . The principal amount of this Bond. The Principal Amount hereof Bond is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) principal corporate trust office of U.S. Bank Wilmington Trust, National Association, as trustee (the “Trustee”), in Costa Mesa, California, or at such office as the Trustee may designate, upon presentation and surrender of this Bond to the Trustee. Interest hereon is payable by check Payment of the Trustee mailed by first class mail interest on each Interest Payment Date this Bond will be made to the Registered Owner hereof at the address of the Registered Owner as it person whose name appears on the bond registration books of the Trustee as the Owner thereof as of the 15th calendar fifteenth day of the month immediately preceding such an Interest Payment Date, Date whether or not such said day is a Business Day; providedbusiness day (the “Record Date”), howeversuch interest to be paid by check mailed on the Interest Payment Date to the Owner or, that payment at the option of interest may be made by wire transfer to an account in the United States any Owner of America to any registered owner of Bonds in the at least $1,000,000 aggregate principal amount of $1,000,000 or more Bonds and upon written instructions of any such registered owner filed with notice received by the Trustee prior to the Record Date, by wire transfer, at the Owner’s address as it appears on such bond registration books or to such account as shall have been identified by the Owner in the notice requesting payment by wire transfer. Any such interest not so punctually paid or duly provided for that purpose as of shall forthwith cease to be payable to the Owner on such Record Date and shall be paid to the person in whose name the Bond is registered at the close of business on a special record date for the 15th calendar day payment of such defaulted interest to be fixed by the month preceding Trustee, notice whereof being given to the Owners not less than ten (10) days prior to such Interest Payment Datespecial record date. This Bond is a limited obligation of Capitalized terms used herein and not otherwise defined are used with the Authority, payable solely from the Revenues and funds pledged under meanings ascribed to them in the Indenture (as defined belowhereinafter defined). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue series of bonds Bonds of the various maturities designated as “Coachella Water Authority designated the “Belvedere Public Financing Authority 2016 Water Revenue Refunding Bonds, [2022A][2022B] Series” (the “Bonds”), limited issued in the aggregate principal amount of $ all of like tenor (except for such variations, if any, as may be required to $_____________designate varying numbers, secured by maturities, interest rates or redemption provisions), issued under and pursuant to an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), ) by and between the Authority and the Trustee, dated as of [February][May] 1, 2022, approved by the Authority by Resolution No. Reference is hereby made 2020.001, adopted by the Board of Directors of the Authority on The Bonds are issued to (a) refund certain obligations of the Authority, (b) finance certain improvements to the Indenture Enterprise, (c) purchase a municipal bond insurance policy, and all indentures supplemental thereto for a description (c) pay the costs of the rights thereunder of the owners issuance of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under payable from the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California net revenues (the “ActNet Revenues”) of the City’s combined water enterprise (the “Enterprise”). The Bonds are limited obligations , derived primarily from charges and revenues received by the Authority from or attributable to the lease and operation of the Authority andEnterprise, less the costs of the operation and maintenance of the Enterprise, and the Net Revenues are pledged, as and to the extent set forth in the Indenture, are payable solely from and secured by a first and prior lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of thereon, to pay the principal of and premium, if any, and interest on the Bonds, except and any parity obligations hereafter issued or incurred by the Authority in accordance with the Indenture. Additional series of bonds payable from the Net Revenues may be issued on a parity with the Bonds, but only subject to the extent otherwise provided conditions and limitations contained in the Indenture. The full faith principal or redemption price of and credit interest on the Bonds are payable solely from the Net Revenues, and the Authority is not obligated to pay the Bonds except from the Net Revenues. The general fund of the Authority is not pledged to liable, and the full faith and credit or taxing power of the Authority is not pledged, for the payment of the principal of or interest or redemption premiums (if any) price of and interest on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Net Revenues. The Authority covenants that, so long as any of the Bonds are outstanding, it will fix, prescribe and collect charges so as to yield Net Revenues at least equal to the amounts thereof prescribed by the Indenture and sufficient to pay the principal or redemption price of and interest on the Bonds in accordance with the provisions of the Indenture. The Bonds shall be subject to redemption as set forth in the Indenture. As provided in the Indenture, notice of redemption shall be given by first class mail not less than twenty (20) days prior to the redemption date to the respective registered Owners of the Bonds designated for redemption at their addresses appearing on the bond registration books, but no defect in the notice so mailed shall affect the sufficiency of the proceedings for redemption. If this Bond is called for redemption and payment is duly provided therefor as specified in the Indenture, interest shall cease to accrue hereon from and after the date fixed for redemption. If an Event of Default, as defined in the Indenture, shall occur, the principal of all Bonds may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture, but such other funds declaration and its consequences may be rescinded and annulled as further provided in the Indenture. This Bond is transferable, as provided in the Indenture, only upon the books of the Authority kept for that purpose at the office of the Trustee, by the Owner hereof in person, or by his attorney duly authorized in writing, upon the surrender of this Bond together with a written instrument of transfer satisfactory to the Trustee duly executed by the registered Owner or his attorney duly authorized in writing, and thereupon a new Bond or Bonds, without coupons, and in the same aggregate principal amount and of the same maturity, shall be issued to the transferee in exchange herefor, as provided in the Indenture, and upon the payment of charges, if any, including, after the first exchange, the cost of preparing new Bonds therein prescribed. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City rights and obligations of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within of the Owners of the Bonds may be modified or amended at any time in the manner, to the extent and upon the terms provided in the Indenture. No such modification or amendment shall permit a maturity, on change in the terms of redemption or maturity of the principal of any date on outstanding Bond or after September 2, 20__, from funds derived by the Authority from of any source, at installment of interest thereon or a redemption price equal to reduction in the principal amount or the redemption price thereof or in the rate of interest thereon without the consent of the Bonds to be optionally redeemedOwner of such Bond, together with accrued interest thereon to or shall reduce the date fixed for redemption, without premium. The Authority shall deliver to percentages or otherwise affect the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption classes of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage consent of the principal Owners of which is required to effect any such modification or amendment, all as more fully set forth in the Indenture. It is hereby certified that all of the conditions, things and acts required to exist, to have happened or to have been performed precedent to and in the issuance of this Bond do exist, have happened or have been performed in due time, form and manner as required by law and that the amount of the Bonds to be redeemed), as set forth belowthis Bond, together with accrued interest thereon to all other indebtedness of the date fixed for redemption: Redemption Date Redemption Price September 2Authority, 20__, through March 2, 20__ 103% September 2, 20__does not exceed any limit prescribed by the Constitution or laws of the State of California, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment is not in excess of the Local Obligations and redemption amount of BondsBonds permitted to be issued under the Indenture. Unless this Bond is presented by an authorized representative of The Depository Trust Company, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ a New York corporation (the 20__ Term BondsDTC”), are subject to mandatory sinking payment redemption in part on September 2the issuer or its agent for registration of transfer, 20__exchange, or payment, and on each September 2 thereafter any Bond issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to maturityCede & Co. or to such other entity as is requested by an authorized representative of DTC), by lotANY TRANSFER, at a redemption price equal to PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the principal amount thereof to be redeemedregistered owner hereof, together with accrued Cede & Co., has an interest to the date fixed for redemption, without premium, from sinking payments as follows:herein.

Appears in 1 contract

Samples: Indenture of Trust

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYTHE HILLSBOROUGH COUNTY AVIATION AUTHORITY (the “Authority”), a joint powers authority organized body politic and corporate created and existing under the laws of the State of California (the “Authority”)Florida, for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above above, or registered assigns (the “Registered Owner”)assigns, on the Maturity Date identified above (subject to any right of prior redemption or earlier as hereinafter provided), but solely from the revenues hereinafter mentioned), the Principal Amount identified above in lawful money of upon the United States of America; and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) principal office of U.S. The Bank National Associationof New York Mellon, or its successors, as trustee Bond Registrar and Paying Agent (the “Trustee” or “Registrar”), and to pay, solely from such special revenues, interest on the Principal Amount from the Interest Accrual Date, or from the most recent date to which interest has been paid, at the Interest Rate per annum identified above until payment of the outstanding Principal Amount hereof, such interest being payable semiannually on the first day of April and the first day of October in each year, commencing on 1, 20 . Interest hereon is payable will be paid by check of the Trustee or draft mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the his address of the Registered Owner as it appears on the registration books of the Trustee as Authority maintained by the Registrar at the close of business on the 15th calendar fifteenth (15th) day (whether or not a business day) of the month next preceding the interest payment date (the “Record Date”), irrespective of any transfer or exchange of such Bond subsequent to such Record Date and prior to such interest payment date, unless the Authority shall be in default in payment of interest due on such interest payment date. In the event of any such default, such defaulted interest shall be payable to the person in whose name such Xxxx is registered at the close of business on a special record date for the payment of such defaulted interest as established by notice by deposit in the U.S. mails, postage prepaid, by the Authority to the registered owners of Bonds not less than fifteen (15) days preceding such Interest Payment Datespecial record date. Such notice shall be mailed to the persons in whose names the Bonds are registered at the close of business on the fifth (5th) day, whether or not a business day, preceding the date of mailing. Payment of principal of, upon presentation and surrender, or interest on Bonds of this Series may, at the election of a registered owner of $1,000,000 or more in aggregate principal amount of Bonds of this Series, by written request delivered to the Trustee at least 10 days prior to the applicable Record Date, be transmitted to such day is a Business Day; provided, however, that payment of interest may be made registered owner by wire transfer to an account in the continental United States designated by such registered owner. Any such written election may state that it will apply to all subsequent payments due with respect to the Bonds of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any this Series held by such registered owner until a subsequent written notice is filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment DateTrustee. This Bond and the interest and premium, if any, hereon are payable solely from and secured on a parity with certain Bonds of the Authority heretofore issued under a Trust Agreement dated as of October 1, 1968, by and among the Authority and The Chase Manhattan Bank (National Association), as predecessor to the Trustee, as codified and restated effective as of August 22, 2024, as amended, and agreements supplemental thereto (collectively, the “Trust Agreement”), pursuant and subject to the provisions, terms and conditions of Resolution No. - adopted by the Authority on , 20 (the “Resolution”), and the Supplemental Trust Agreement, dated as of _ , 20 (the “Supplemental Trust Agreement”), by and among the Authority and the Trustee by an equal lien on the revenues derived from the Airport System of the Authority and other moneys pledged therefor in the manner provided in the Trust Agreement and the Supplemental Trust Agreement. Reference is hereby made to the Resolution, the Trust Agreement and the Supplemental Trust Agreement for the provisions, among others, relating to the terms of and lien and security for the Bonds, the custody and application of the proceeds of the Bonds, the rights and remedies of the registered owners of the Bonds and the extent of and limitations on the Authority’s rights, duties and obligations, the provisions permitting the issuance of additional parity indebtedness, and circumstances under which the lien to which this Bond is entitled under the Trust Agreement and the Supplemental Trust Agreement may be released and defeased, to all of which provisions the Registered Owner for himself and his successor in interest assents by acceptance of this Bond. This Bond shall not be nor constitute a limited obligation general indebtedness of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of Hillsborough County, the City of Belvedere (the “City”) Tampa, or any other political subdivision in the State of California Florida, within the meaning of any constitutional, statutory or charter provision or limitation, and it is expressly agreed that this Bond and the obligation evidenced hereby shall not constitute nor be a lien upon any property of the Authority, except the revenues derived from the Airport System and other moneys pledged therefor, or of Hillsborough County, the City of Tampa or any other political subdivision in the State of its Florida, and no registered owner of this Bond shall ever have the right to require or compel the exercise of the ad valorem taxing power of the Authority, Hillsborough County, the City of Tampa or any other political subdivisions (subdivision in the State of Florida, for the payment of this Bond or any interest due hereon and the Authority is not and shall never be under any obligation to pay the principal of or interest on this Bond except from the revenues derived from the Airport System and other moneys pledged therefor, in the manner provided in the Trust Agreement and the Supplemental Trust Agreement. It is further agreed between the Authority and the Registered Owner of this Bond that this Bond and the indebtedness evidenced hereby shall not constitute a lien upon the Airport System, or any part thereof, or any other tangible personal property of or in the Authority, but shall constitute a lien only on certain Revenues derived from the operation of the Airport System and certain other funds and investment earnings thereon, all in the manner and to the extent set forth provided in the Indenture), Trust Agreement and none the Supplemental Trust Agreement. Neither the members of the City, said State or Authority nor any person executing the Bonds shall be liable personally on the Bonds by reason of its political subdivisions is liable hereon. The Authority has no taxing powertheir issuance. This Bond is one of a duly authorized issue of bonds Bonds in the aggregate principal amount of $ of like date, tenor and effect, except as to number, maturity (unless all Bonds mature on the same date), interest rate and payment provisions, issued under and by virtue of the Authority designated authority contained in and conferred by the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by Constitution and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code laws of the State of California Florida, including particularly Chapter 2022-252, Laws of Florida, (2022), together with acts amendatory thereof and supplemental thereto (collectively, the “Act”), and other applicable statutes, and Section 2.09 of the Trust Agreement, as amended through the date of issuance of hereof, for the purpose of . The Bonds are limited obligations of this series may be redeemed prior to their maturity, at the option of the Authority andAuthority, as and from time to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing time on or before September 2after October 1, 20__20 , are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a in whole or in part among part, on any date, in such maturities amounts and in the order of maturity or Sinking Fund Installments, all as are selected determined by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a set forth in its notice of redemption price equal to the principal amount of the Bonds to be optionally redeemedTrustee, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot or as the Authority may designate within a maturitymaturity or Sinking Fund Installment if less than all, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to at the redemption price of Local Obligations from the prepayment of Reassessments, at a redemption price one hundred percent (expressed as a percentage 100%) of the principal amount of the Bonds to be redeemed), plus accrued interest to the redemption date. The Bonds of this series maturing on and after October 1, 20 are subject to mandatory redemption on the dates set forth below at the redemption price of par plus accrued interest and without premium (each such redemption to be treated as a Sinking Fund Installment for purposes of the Trust Agreement): 20 Term Bonds due October 1, 20 : $ * *Final Maturity Each Sinking Fund Installment of this Bond shown above under “Amounts to be Redeemed” shall be treated as principal payments on Serial Bonds for purposes of Section 5.02(C) of the Trust Agreement. A notice of the redemption of any of said Bonds shall be sent to the registered owners of such Bonds by regular mail, postage prepaid, or by electronic delivery, in either case at their addresses as they appear on the registration books, at least twenty (20) days prior to the redemption date in the manner provided in the Trust Agreement and Supplemental Trust Agreement; provided, however, that failure to so mail such notice to such registered owners, or any defect therein, shall not affect the validity of the proceedings for redemption of Bonds with respect to which no such failure or defect occurred. The Bonds so duly called for redemption shall become and be due and payable at the redemption price provided for such Bonds or portions thereof on the dates designated for redemption, and when the necessary moneys shall have been deposited with, or shall be held by, the Trustee or Paying Agents, interest on such Bonds called for redemption shall cease to accrue on the dates designated for redemption, and the holders or registered owners of said Bonds called for redemption shall not have any lien, rights, benefits or security under the Trust Agreement and Supplemental Trust Agreement, except to receive payment of the redemption price on the designated date of redemption from moneys deposited with or held by the Trustee or Paying Agents for such redemption of such Bonds. Any notice mailed in accordance with the foregoing requirements shall be conclusively presumed to have been duly given, whether or not the Registered Owner actually receives such notice. Any notice of redemption may state that the redemption contemplated therein is conditioned upon the occurrence of certain events or circumstances described therein as contemplated in the Trust Agreement, as amended, or may be revoked for any other reason, in which case the Authority will not be obligated to redeem such Bonds unless the events therein described have occurred. The Registered Owner hereof, by acceptance of this Bond, hereby consents to the terms and provisions of the Trust Agreement, including the conceptual amendments set forth belowin Section 11.05 thereof, together with accrued interest thereon and those amendments set forth in subsequent Supplemental Trust Agreements, including the 20 Supplemental Trust Agreement pursuant to which this Bond was issued. The registration of this Bond may be transferred upon the registration books by delivery hereof to the date fixed for redemption: Redemption Date Redemption Price September 2principal corporate trust office of the Registrar in the City of New York, 20__New York, through March 2accompanied by a written instrument or instruments of transfer in form and with guaranty of signature satisfactory to the Registrar, 20__ 103% September 2duly executed by the Registered Owner or by his attorney-in-fact or legal representative, 20__containing written instructions as to the details of transfer of this Bond, along with the social security number or federal employer identification number of such transferee. In all cases of a transfer of a Bond, the Registrar shall at the earliest practical time in accordance with the provisions of the Supplemental Trust Agreement enter the transfer of ownership in the registration books and March 2, 20__ 102 September 2, 20__, (unless uncertificated registration shall be requested and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The the Authority has a registration system that will accommodate uncertificated registration) shall deliver to in the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment name of the Local Obligations new transferee or transferees a new fully registered Bond or Bonds of the same series and maturity and of authorized denomination or denominations, for the same aggregate principal amount and payable from the same sources of funds. Neither the Authority nor the Registrar shall be required to register the transfer of any Bond during the twenty-five (25) days next preceding an interest payment date on the Bonds or, in the case of any proposed redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the after such Bonds that will remain Outstanding hereunder following such mandatory or any portion thereof has been selected for redemption. The Bonds maturing on September 2Authority and the Registrar may charge the owner of such Bond for the registration of every such transfer of a Bond an amount sufficient to reimburse them for any tax, 20__ fee or any other governmental charge required (other than by the “20__ Term Bonds”), are subject Authority) to mandatory sinking payment redemption in part on September 2, 20__be paid with respect to the registration of such transfer, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to may require that such amounts be paid before any such new Bond shall be delivered. If the date for payment of the principal amount thereof of, premium, if any, or interest on this Bond shall be a Saturday, Sunday, legal holiday or a day on which banking institutions in the city where the corporate trust office of the Trustee is located are authorized by law or executive order to close, then the date for such payment shall be the next succeeding day which is not a Saturday, Sunday, legal holiday or a day on which such banking institutions are authorized to close, and payment on such day shall have the same force and effect as if made on the nominal date of payment. It is hereby certified, recited and declared that all acts, conditions and things required to exist, to happen and to be redeemedperformed precedent to and in the issuance of this Bond, together exist, have happened and have been performed in regular and due form and time as required by the Constitution and laws of the State of Florida applicable thereto and that the issuance of this Bond is in full compliance with accrued interest all constitutional and statutory limitations, provisions and restrictions. This Bond shall not be valid or become obligatory for any purpose or be entitled to any security or benefit under the date fixed for redemption, without premium, from sinking payments as follows:Trust Agreement and the Supplemental Trust Agreement until the Certificate of Authentication endorsed hereon shall have been signed by the Trustee.

Appears in 1 contract

Samples: Trust Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYCity of Redwood City, a joint powers authority organized and existing under the laws of the State of California (the “AuthorityCity”), for and on behalf of the City of Redwood City Community Facilities District No. 2010-1 (One Marina) (the “District”), for value received, hereby promises to pay solely from the Special Tax (but only out of the Revenues and other funds as hereinafter referred todefined) to be collected in the Registered Owner identified above District or amounts in the funds and accounts held under the Agreement (as hereinafter defined), to the registered owner named above, or registered assigns assigns, on the maturity date set forth above, unless redeemed prior thereto as hereinafter provided, the principal amount set forth above, and to pay interest on such principal amount from the Bond Date shown above, or from the most recent Interest Payment Date (the defined below) to which interest has been paid or duly provided for, semiannually on March 1 and September 1, commencing March 1, 2017 (each, an Registered OwnerInterest Payment Date”), on at the Maturity Date identified above (subject interest rate set forth above, until the principal amount hereof is paid or made available for payment. The principal of this Bond is payable to any right of prior redemption hereinafter mentioned), the Principal Amount identified above registered owner hereof in lawful money of the United States of America; America upon presentation and to pay interest thereon surrender of this Bond at the Principal Office (as defined in the Agreement referred to below) of U.S. Bank National Association (the “Fiscal Agent”). Interest Rate identified above on this Bond shall be paid by check of the Fiscal Agent mailed on each Interest Payment Date to the registered owner hereof as of the close of business on the 15th day of the month preceding the month in like money which the Interest Payment Date occurs (the “Record Date”) at such registered owner’s address as it appears on the registration books maintained by the Fiscal Agent, or (i) if the Bonds are in book-entry-only form, or (ii) otherwise upon written request filed with the Fiscal Agent prior to any Record Date by a registered owner of at least $1,000,000 in aggregate principal amount of Bonds, by wire transfer in immediately available funds to the depository for the Bonds or to an account in the United States designated by such registered owner in such written request, respectively. Interest on this Bond shall be payable from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond hereof, unless (unless this Bond i) it is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest for such Interest Payment Date, or (ii) such date of authentication is after a Record Date but on or prior to an Interest Payment Date, in which event interest will be payable from such Interest Payment Date, or unless this Bond (iii) such date of authentication is authenticated on or prior to January 16, 2016the first Record Date, in which event it shall bear interest will be payable from the Dated Bond Date identified shown above; provided, provided however, that if, if at the time of authentication of this Bond, interest is in default on this Bondhereon, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of in the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in aggregate principal amount to of $_____________, secured _ approved by an Indenture a resolution of Trust dated as of July 1the City Council adopted on May 23, 2016 (the “IndentureResolution”), by and between the Authority and the Trustee. Reference is hereby made pursuant to the Indenture and all indentures supplemental thereto for a description provisions of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the California Government Code of the State of California (the “Act”) for the purpose of refunding the City of Redwood City Community Facilities District No. 2010-1 (One Marina) Special Tax Bonds, Series 2011, and is one of the series of Bonds designated “City of Redwood City Community Facilities District No. 2010-1 (One Marina) 2016 Special Tax Refunding Bonds” (the “Bonds”). The creation of the Bonds and the terms and conditions thereof are provided for in the Fiscal Agent Agreement, dated as of June 1, 2016, between the City, for and on behalf of the District, and the Fiscal Agent (the “Agreement”) and this reference incorporates the Resolution and the Agreement herein, and by acceptance hereof the owner of this Bond assents to said terms and conditions. Pursuant to and as more particularly provided in the Agreement, additional bonds may be issued by the City from time to time secured by a lien on funds held under the Agreement on a parity with the lien securing the Bonds. The Agreement is authorized under and this Bond is issued under, and both are to be construed in accordance with, the laws of the State of California. The Bonds are not general obligations of the City, but are limited obligations of the Authority andCity for the District, as payable solely from the revenues and funds pledged therefor under the Agreement. Neither the faith and credit nor the taxing power of the City, the District (except to the extent of the Special Tax levy in the District, as set forth in the Indenture, are payable solely from and secured by a first lien on and pledge Agreement) or the State of California or any political subdivision thereof is pledged to the payment of the Revenues Bonds. Pursuant to the Act, and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of Agreement, the principal of and interest on this Bond are payable solely from the Bondsannual Special Tax authorized under the Xxxxx-Xxxx Community Facilities Act of 1982 to be collected within the District and certain funds held under the Agreement. Any tax for the payment hereof shall be limited to the Special Tax, except to the extent otherwise provided in that provision for payment has been made by the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the BondsCity, as may be permitted by law. The Bonds are do not secured by a legal constitute obligations of the City for which said County is obligated to levy or equitable pledge ofpledge, or chargehas levied or pledged, lien general or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such special taxation other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligationsthan described hereinabove. The City will apply has covenanted for the net proceeds received from the sale benefit of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount owners of the Bonds that it will commence and pursue to be optionally redeemed, together with accrued interest thereon to completion appropriate foreclosure actions in the date fixed event of delinquencies of any Special Tax installments levied for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on as more particularly set forth in the Bonds that will remain Outstanding hereunder following such optional redemptionAgreement. The Bonds are subject to mandatory call and optional redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, their stated maturity on any Interest Payment Date occurring on or after September 21, 20__2017, from amounts received by as a whole, or in part among maturities as provided in the Authority due to the redemption of Local Obligations from the prepayment of ReassessmentsAgreement, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Dates Redemption Prices any Interest Payment Date Redemption Price from September 21, 20__2017 to and including March 1, through March 22024 September 1, 20__ 103% September 2, 20__, 2024 and March 21, 20__ 2025 102 September 21, 20__, 2025 and March 21, 20__ 2026 101 September 21, 20__, 2026 and any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 21, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__1, and on each September 2 1 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:

Appears in 1 contract

Samples: Fiscal Agent Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYDollars REDEVELOPMENT AGENCY OF THE CITY OF SAN XXXX, a joint powers authority public body, corporate and politic, duly organized and existing under and pursuant to the laws of the State of California (herein called the “Authority”"Agency"), for value received, hereby promises to pay (but only out of the Revenues and other funds Subordinate Housing Set-Aside Amounts hereinafter referred tomentioned) to the Registered Owner identified above registered owner specified above, or registered assigns (the “Registered Owner”)assigns, on the Maturity Date identified specified above (subject to any right of prior redemption hereinafter mentioned), mentioned and other amounts pledged to the payment of this Bond as provided in the hereinafter mentioned Fiscal Agent Agreement) the Principal Amount identified specified above by check in lawful money of the United States of America; , and to pay interest thereon at hereon from the Interest Rate identified above Payment Date next preceding the date of authentication hereof unless (a) this Bond is authenticated following a Record Date and on or before the next succeeding Interest Payment Date, in like money which event interest hereon shall be payable from such Interest Payment Date, or (b) this Bond is authenticated on or before the first Record Date, in which event interest hereon shall be payable from the Original Issue Date, or (c) interest on this Bond is in default as of the date of authentication hereof, in which event interest hereon shall be payable from the date to which interest has been paid in full to the Maturity Date or the date of redemption, whichever is earlier, by check mailed by first class mail to the Owner on each Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears shown on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on (i) the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:last 637768.DOC 3/11/2010

Appears in 1 contract

Samples: Fiscal Agent Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYEconomic Development Authority of Albemarle County, Virginia, a joint powers authority organized and existing under the laws political subdivision of the State Commonwealth of California Virginia (the “Authority”), for value received, hereby promises to pay (but only out upon surrender hereof at the designated corporate trust office of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above U.S. Bank National Association, Richmond, Virginia, as successor trustee, or registered assigns its successor in trust (the “Registered OwnerTrustee”), under the Agreement of Trust (as hereinafter defined) solely from the source and as hereinafter provided, to the registered owner hereof, or its registered assigns or legal representative, the principal sum stated above on the Maturity Date identified above (maturity date stated above, subject to any right of prior redemption as hereinafter mentionedprovided, and to pay, solely from such source, interest hereon on each [June 1 and December 1], beginning [December 1, 2021], at the annual rate stated above, calculated on the basis of a 360-day year of twelve 30-day months. Interest is payable (a) from June [24], 2021, if this bond is authenticated prior to [December 1, 2021], or (b) otherwise from the [June 1 or December 1] that is, or immediately precedes, the date on which this bond is authenticated (unless payment of interest hereon is in default, in which case this bond shall bear interest from the date to which interest has been paid). Interest is payable by check or draft mailed to the registered owner hereof at its address as it appears on the [15th] day of the month preceding each interest payment date on registration books kept by the Trustee; provided, however, that (x) if the Series 2021B Bonds (as hereinafter defined) are registered in the name of The Depository Trust Company (“DTC”), or any successor securities depository, or its nominee as registered owner or (y) at the option of a registered owner of at least $1,000,000 of Series 2021B Bonds, payment will be made by wire transfer pursuant to the most recent wire instructions received by the Trustee from such registered owner. If such interest payment date is not a Business Day (as defined in the Agreement of Trust), such payment shall be made on the next succeeding Business Day with the same effect as if made on the day such payment was due and no interest shall accrue hereon. Principal Amount identified above and interest are payable in lawful money of the United States of America; and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond. Notwithstanding any other provision hereof, this Bond bond is subject to book-entry form maintained by DTC, and the payment of principal and interest, the providing of notices and other matters shall bear interest from be made as described in the Interest Payment Date Authority’s Letter of Representations to which interest hereon has previously been paid or made available for paymentDTC. This bond is one of an issue of $[ ] Public Facility Revenue Bonds (Albemarle County Projects), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 Series 2021B (Federally Taxable) (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Series 2021B Bonds”), limited in principal amount authorized and issued pursuant to $_____________the Virginia Industrial Development and Revenue Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as amended. The Series 2021B Bonds are issued under and secured by an Indenture Agreement of Trust dated as of July March 1, 2016 (the “Indenture”)2003, by and between the Authority and the Trustee, as previously supplemented and as further supplemented by a Sixth Supplemental Agreement of Trust dated as of June 1, 2021 (collectively, the “Agreement of Trust”). Contemporaneously with the issuance of the Series 2021B Bonds, the Authority is issuing its $[ ] Public Facility Revenue and Refunding Bonds (Albemarle County Projects), Series 2021A (Federally Tax-Exempt) (the “Series 2021A Bonds”), pursuant to the Agreement of Trust. The Series 2021B Bonds will be secured on a parity with the Series 2021A Bonds and the Authority’s outstanding [(a) Public Facility Revenue and Refunding Bonds (Albemarle County Project), Series 2011 (the “Series 2011 Bonds”), (b) Public Facility Revenue Bonds (Albemarle County Project), Series 2013 (the “Series 2013 Bonds”), (c) Public Facility Revenue Bonds (Albemarle County Projects), Series 2015B (the “Series 2015B Bonds”), and (d) Public Facility Revenue Bonds (Albemarle County Projects), Series 2017 (the “Series 2017 Bonds” and, together with [the Series 2011 Bonds,] the Series 2013 Bonds and the Series 2015B Bonds, the “Existing Parity Bonds”), except as otherwise provided. The Agreement of Trust assigns to the Trustee, as security for the Existing Parity Bonds, the Series 2021A Bonds, the Series 2021B Bonds and any additional bonds to be issued under the Agreement of Trust, (a) the revenues and receipts derived from a Financing Agreement dated as of March 1, 2003, as previously supplemented and as further supplemented by a Fifth Supplemental Financing Agreement dated as of June 1, 2021 (collectively, the “Financing Agreement”), between the Authority and the County of Albemarle, Virginia (the “County”), and (b) the Authority’s rights under the Financing Agreement (except for the Authority’s rights under the Financing Agreement to the payment of certain fees and expenses and the rights to notices). Reference is hereby made to the Indenture and all indentures supplemental thereto Agreement of Trust for a description of the rights thereunder of the owners of the Bondsprovisions, of among others, with respect to the nature and extent of the Revenues (as that term is defined in the Indenture)security, of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all the Trustee, the rights of the terms holders of the Indenture are hereby incorporated herein and constitute a contract between the Authority Series 2021B Bonds and the Registered Owner hereof, and to all of terms upon which the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Series 2021B Bonds are authorized to issued and secured. Additional bonds secured by a pledge of revenues and receipts derived from the County under the Financing Agreement on a parity with the Existing Parity Bonds, the Series 2021A Bonds and the Series 2021B Bonds may be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as terms and to the extent conditions set forth in the Indenture, are payable solely from and secured by a first lien on and pledge Agreement of Trust. Capitalized terms not otherwise defined herein shall have the Revenues and certain other funds held by the Trustee as provided meanings assigned such terms in the IndentureAgreement of Trust. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Series 2021B Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”a) being simultaneously issued by the City of Belvedere (the “City”), and to pay finance the costs of issuing certain projects in the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations County’s Capital Improvement Plan including (without limitation) capital expenditures related to the Authority toward the defeasance following governmental and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price public purpose categories: [(expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:i) County administration,

Appears in 1 contract

Samples: Supplemental Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYEconomic Development Authority of Albemarle County, Virginia, a joint powers authority organized and existing under the laws political subdivision of the State Commonwealth of California Virginia (the “Authority”), for value received, hereby promises to pay (but only out upon surrender hereof at the designated corporate trust office of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above U.S. Bank Trust Company, National Association, Richmond, Virginia, as successor trustee, or registered assigns its successor in trust (the “Registered OwnerTrustee”), under the Agreement of Trust (as hereinafter defined) solely from the source and as hereinafter provided, to the registered owner hereof, or its registered assigns or legal representative, the principal sum stated above on the Maturity Date identified above (maturity date stated above, subject to any right of prior redemption as hereinafter mentionedprovided, and to pay, solely from such source, interest hereon on each June 1 and December 1, beginning [December 1, 2022], at the annual rate stated above, calculated on the basis of a 360-day year of twelve 30-day months. Interest is payable (a) from March [ ], 2022, if this bond is authenticated prior to [December 1, 2022], or (b) otherwise from the June 1 or December 1 that is, or immediately precedes, the date on which this bond is authenticated (unless payment of interest hereon is in default, in which case this bond shall bear interest from the date to which interest has been paid). Interest is payable by check or draft mailed to the registered owner hereof at its address as it appears on the 15th day of the month preceding each interest payment date on registration books kept by the Trustee; provided, however, that (x) if the Series 2022 Bonds (as hereinafter defined) are registered in the name of The Depository Trust Company (“DTC”), or any successor securities depository, or its nominee as registered owner or (y) at the option of a registered owner of at least $1,000,000 of Series 2022 Bonds, payment will be made by wire transfer pursuant to the most recent wire instructions received by the Trustee from such registered owner. If such interest payment date is not a Business Day (as defined in the Agreement of Trust), such payment shall be made on the next succeeding Business Day with the same effect as if made on the day such payment was due and no interest shall accrue hereon. Principal Amount identified above and interest are payable in lawful money of the United States of America; and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond. Notwithstanding any other provision hereof, this Bond bond is subject to book-entry form maintained by DTC, and the payment of principal and interest, the providing of notices and other matters shall bear interest from be made as described in the Interest Payment Date Authority’s Letter of Representations to which interest hereon has previously been paid or made available for paymentDTC. This bond is one of an issue of $ Public Facility Revenue Refunding Bonds (Albemarle County Projects), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 Series 2022 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Series 2022 Bonds”), limited in principal amount authorized and issued pursuant to $_____________the Industrial Development and Revenue Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as amended. The Series 2022 Bonds are issued under and secured by an Indenture Agreement of Trust dated as of July March 1, 2016 (the “Indenture”)2003, by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amendedpreviously supplemented and as further supplemented by a Seventh Supplemental Agreement of Trust dated as of March 1, constituting Article 4 2022 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (collectively, the “ActAgreement of Trust”). The Series 2022 Bonds are limited obligations of will be secured on a parity with the Authority andAuthority’s outstanding (a) [Public Facility Revenue Bonds (Albemarle County Project), as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds Series 2013 (the “Local ObligationsSeries 2013 Bonds)], (b) being simultaneously issued by the City of Belvedere Public Facility Revenue Bonds (Albemarle County Projects), Series 2015B (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Series 2015B Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:,

Appears in 1 contract

Samples: Seventh Supplemental Agreement of Trust

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITY, a joint powers authority organized and existing under the laws City of the State of California Roseville (the “AuthorityCity”) for and on behalf of the City of Roseville Xxxxxxxxx Community Facilities District No. 1 (Public Facilities) (the “District”), for value received, hereby promises to pay solely from the Special Tax (but only out of as hereinafter defined) to be collected in the Revenues District or amounts in certain funds and other funds accounts held under the Agreement (as hereinafter referred to) defined), to the Registered Owner identified above named above, or registered assigns (the “Registered Owner”), on the Maturity Date identified above (subject to any right of set forth above, unless redeemed prior redemption thereto as hereinafter mentioned)provided, the Principal Amount identified above set forth above, and to pay interest on such principal amount from the Bond Date shown above, or from the most recent Interest Payment Date (as hereinafter defined) to which interest has been paid or duly provided for, semiannually on March 1 and September 1, commencing September 1, 2018 (the “Interest Payment Dates”), at the Interest Rate set forth above, until the principal amount hereof is paid or made available for payment. The principal of this 2018 Bond is payable to the Owner hereof in lawful money of the United States of America; America upon presentation and surrender of this 2018 Bond at a designated corporate trust office of The Bank of New York Mellon Trust Company, N.A. (the “Fiscal Agent”). Interest on this 2018 Bond shall be paid by check of the Fiscal Agent mailed by first class mail on each Interest Payment Date to pay interest thereon at the Owner hereof as of the close of business on the 15th day of the month preceding the month in which the Interest Rate identified above Payment Date occurs (the “Record Date”) at such Owner's address as it appears on the registration books maintained by the Fiscal Agent, or by wire transfer made on such Interest Payment Date upon written instructions delivered to the Fiscal Agent by the applicable Record Date of any Owner of $1,000,000 or more in like money aggregate principal amount of 2018 Bonds. This 2018 Bond is one of a duly authorized issue of bonds approved by resolution of the City Council of the City on May 23, 2018 (the “Resolution”), pursuant to the Xxxxx-Xxxx Community Facilities Act of 1982, as amended, Sections 53311, et seq., of the California Government Code (the “Xxxxx-Xxxx Act”) for the purpose of providing moneys for the construction and acquisition of improvements within the District, and is one of the bonds designated “City of Roseville Xxxxxxxxx Community Facilities District No. 1 (Public Facilities) Special Tax Bonds Series 2018” (the “2018 Bonds”). The issuance of the 2018 Bonds and the terms and conditions thereof are provided for by a Fiscal Agent Agreement, dated as of December 1, 2014, as amended and supplemented by a Supplemental Agreement No. 1 to Fiscal Agent Agreement dated as of July 1, 2018 (together, the “Agreement”), by and between the City and the Fiscal Agent and this reference incorporates the Agreement herein, and by acceptance hereof the Owner of this 2018 Bond assents to said terms and conditions. The Agreement is authorized under, this 2018 Bond is issued under and both are to be construed in accordance with, the laws of the State of California. Pursuant to the Xxxxx-Xxxx Act, the Agreement and the Resolution, the principal of and interest on this 2018 Bond are payable, on a parity with previously issued bonds of the District, solely from the annual special tax authorized under the Xxxxx-Xxxx Act to be collected within the District (the “Special Tax”) and certain funds held under the Agreement. Interest on this 2018 Bond shall be payable from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond hereof, unless (unless this Bond i) it is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond (ii) such date of authentication is authenticated after a Record Date but on or prior to January 16, 2016an Interest Payment Date, in which event it shall bear interest will be payable from such Interest Payment Date, or (iii) such date of authentication is prior to the first Record Date, in which event interest will be payable from the Dated 2018 Bond Date identified shown above; provided, provided however, that if, if at the time of authentication of this 2018 Bond, interest is in default on this Bondhereon, this 2018 Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (payment hereon. Any tax for the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount payment hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date shall be limited to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the BondsSpecial Tax, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the that provision for payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have has been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued made by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligationsas may be permitted by law. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation 2018 Bonds do not constitute obligations of the City for which the City is obligated to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth thereinlevy or pledge, or has levied or pledged, general or special taxation other than described herein above. The 2018 Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption may be redeemed prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturitymaturity at the option of the City from any source of available funds, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturitypart, on any date on or and after September 21, 20__, from funds derived by 2025 at the Authority from any source, at a following respective redemption price equal to prices (expressed as percentages of the principal amount of the 2018 Bonds to be optionally redeemed), together with plus accrued interest thereon to the date fixed for of redemption: Redemption Dates Redemption Price September 1, without premium. 2025 through August 31, 2026 103% September 1, 2026 through August 31, 2027 102 September 1, 2027 through August 31, 2028 101 September 1, 2028 and any date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The 2018 Bonds are subject to mandatory call and redemption prior to maturityfrom prepayments of the Special Tax by property owners, as a in whole or in part among such maturities as are selected specified by the Authority City and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by at the Authority due to the following respective redemption of Local Obligations from the prepayment of Reassessments, at a redemption price prices (expressed as a percentage percentages of the principal amount of the 2018 Bonds to be redeemed), as set forth below, together with plus accrued interest thereon to the date fixed for of redemption: Redemption Date Dates Redemption Price September 21, 20__2018 through and including March 1, through March 2, 20__ 2026 103% September 21, 20__, 2026 and March 21, 20__ 2027 102 September 21, 20__, 2027 and March 21, 20__ 2028 101 September 21, 20__, 2028 and any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Term 2018 Bonds maturing on September 21, 20__ (the “20__ Term Bonds”)2043 and September 1, 2048 are subject to mandatory sinking payment redemption in part on September 21, 20__2039 and September 1, 2044, respectively, and on each September 2 1 thereafter to maturity, by lot, at a redemption price equal to 100% of the principal amount thereof to be redeemed, together without premium, in the aggregate respective principal amounts as set forth in the following tables: Term 2018 Bonds Maturing September 1, 2043 Mandatory Redemption Date (Sept. 1) Sinking Fund Payment 2039 $495,000 2040 540,000 2041 585,000 2042 635,000 2043 (maturity) 685,000 Term 2018 Bonds Maturing September 1, 2048 Mandatory Redemption Date (Sept. 1) Sinking Fund Payment 2044 $735,000 2045 770,000 2046 810,000 2047 850,000 2048 (maturity) 895,000 The amounts in the foregoing table shall be reduced pro rata, in order to maintain substantially uniform debt service, as a result of any prior partial optional redemption or mandatory redemption of the 2018 Bonds as directed by the City in an Officer’s Certificate. Notice of redemption with accrued respect to the 2018 Bonds to be redeemed shall be given to the Owners thereof, in the manner, to the extent and subject to the provisions of the Agreement. This 2018 Bond shall be registered in the name of the Owner hereof, as to both principal and interest. Each registration and transfer of registration of this 2018 Bond shall be entered by the Fiscal Agent in books kept by it for this purpose and authenticated by its manual signature upon the certificate of authentication endorsed hereon. No transfer or exchange hereof shall be valid for any purpose unless made by the registered owner, by execution of the form of assignment endorsed hereon, and authenticated as herein provided, and the principal hereof, interest hereon and any redemption premium shall be payable only to the registered owner or to such Owner's order. The Fiscal Agent shall require the Owner requesting transfer or exchange to pay any tax or other governmental charge required to be paid with respect to such transfer or exchange. No transfer or exchange hereof shall be required to be made (i) within 15 days prior to the date fixed established by the Fiscal Agent for selection of 2018 Bonds for redemption or (ii) with respect to a 2018 Bond after such 2018 Bond has been selected for redemption. The Agreement and the rights and obligations of the City thereunder may be modified or amended as set forth therein. The principal of the 2018 Bonds is not subject to acceleration upon a default under the Agreement or any other document. This 2018 Bond shall not become valid or obligatory for any purpose until the certificate of authentication hereon endorsed shall have been dated and manually signed by the Fiscal Agent. It is hereby certified, without premiumrecited and declared that all acts, from sinking payments conditions and things required by law to exist, happen and be performed precedent to and in the issuance of this 2018 Bond have existed, happened and been performed in due time, form and manner as follows:required by law, and that the amount of this 2018 Bond, together with all other indebtedness of the City, does not exceed any debt limit prescribed by the laws or Constitution of the State of California. Unless this 2018 Bond is presented by an authorized representative of The Depository Trust Company to the Fiscal Agent for registration of transfer, exchange or payment, and any 2018 Bond issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company and any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein.

Appears in 1 contract

Samples: Supplemental Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITY, a joint powers authority organized and existing under the laws of the State of California Costa Mesa Financing Authority (the “Authority”), for value received, hereby promises to pay pay, solely from the Base Rental Payments (but only out of as hereinafter defined) or amounts in certain funds and accounts held under the Revenues and other funds Indenture (as hereinafter referred to) defined), to the Registered Owner identified above or registered assigns (the “Registered Owner”), ; on the Maturity Date identified above (subject to or on any right of prior earlier redemption hereinafter mentioned)date, the Principal Amount identified above in lawful money of the United States of America; and to pay interest thereon at the Interest Rate identified above in like lawful money from the date hereof payable semiannually on April 1 and October 1 in each year, commencing April 1, 2018 (the “Interest Payment Dates”), until payment of such Principal Amount in full. This Bond shall bear interest from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the close of business on the fifteenth calendar day of the month next preceding such Interest Payment Date, whether or not such day is a Business Day, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16March 15, 20162018, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, interest on this Bond shall bear interest be payable from the Interest Payment Date date to which interest hereon has previously been paid or made available for payment)in full, payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this BondDate). The Principal Amount hereof is payable upon presentation and surrender hereof upon maturity or earlier redemption at the Principal Office of the Trustee (as defined in the Indenture) hereinafter defined). Interest hereon is payable by wire or check of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee , mailed by first class mail mail, postage prepaid, on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears shown on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:Registration

Appears in 1 contract

Samples: Indenture

Principal Amount. DOLLARS The BELVEDERE PUBLIC CITY OF SAN XXXX FINANCING AUTHORITY, a joint powers authority public body, corporate and politic, duly organized and existing under and pursuant to the laws of the State of California (herein called the "Authority"), for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred tomentioned) to the Registered Owner identified above registered owner specified above, or registered assigns (the “Registered Owner”)assigns, on the Maturity Date identified specified above (subject to any right of prior redemption hereinafter mentioned), ) the Principal Amount identified specified above in lawful money of the United States of America; , and to pay interest thereon at the Interest Rate identified above in like lawful money from the Interest Payment Date (as hereinafter defined) interest payment date next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before as of an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Dateinterest payment date, in which event it shall bear interest from such Interest Payment Datethe date of authentication hereof, or unless this Bond is authenticated after a record date and before an interest payment date, in which event it shall bear interest from the next succeeding interest payment date, or unless this Bond is authenticated on or prior to January 16[November 15, 20162013, in which event it shall bear interest from the Dated Date identified above; provided, however, that ifdate hereof) until payment of such Principal Amount in full as provided in the Trust Agreement hereinafter mentioned, at the time rate of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment)specified above, payable semiannually on September 2 June 1 and March 2 December 1 in each year, commencing March 2[December 1, 2017 (2013], by check mailed to such registered owner; provided that upon the “Interest Payment Dates”) until the Maturity Date stated above or date request of redemption any owner of this Bondat least $1,000,000 in aggregate principal amount of Bonds, such payment shall be made by wire transfer in immediately available funds to an account designated by such owner. The Principal Amount principal (or redemption price) hereof is payable upon presentation and surrender hereof at the Principal Corporate Trust Office (as defined in the IndentureTrust Agreement hereinafter mentioned) of U.S. Bank Xxxxx Fargo Bank, National Association, as trustee Association (herein called the "Trustee"). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds Bonds of the Authority designated as the “Belvedere Public City of San Xxxx Financing Authority 2016 Lease Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Refunding Bonds, of Series 2013B (Civic Center Garage Project) (herein called the nature and extent of the Revenues (as that term is defined in the Indenture"Bonds"), of the rights, duties and immunities an initial aggregate principal amount of the Trustee and of the rights and obligations of the Authority thereunder; and $ all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and issued pursuant to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 4, Chapter 5, Division 7, Title 1 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (herein called the “Act”"Law"), and pursuant to a Trust Agreement, dated as of June 1, 2013, by and between the Authority and the Trustee (herein called the "Trust Agreement"), authorizing the issuance of the Bonds. The Reference is hereby made to the Trust Agreement (a copy of which is on file at said office of the Trustee) and all Trust Agreements supplemental thereto and to the Law for a description of the terms on which the Bonds are limited issued, the provisions with regard to the nature and extent of the Revenues, as that term is defined in the Trust Agreement, and the rights thereunder of the registered owners of the Bonds and the rights, duties and immunities of the Trustee and the rights and obligations of the Authority andthereunder, to all the provisions of which Trust Agreement the registered owner of this Bond, by acceptance hereof, assents and agrees. The proceeds of the Bonds will be used by the Authority for the purposes and on the terms and conditions set forth in the Trust Agreement and in the Project Lease, dated as of June 1, 2013, by and between the Authority, as lessor, and the City of San Xxxx (the "City"), as lessee (herein called the "Project Lease"). This Bond and the interest hereon and all other Bonds and the interest thereon (to the extent set forth in the IndentureTrust Agreement) are payable from, and are secured by a pledge and assignment of, the Revenues (as that term is defined in the Trust Agreement) derived from a portion of the amounts payable by the City under the Project Lease. Except to the extent set forth in the Trust Agreement, all such Revenues are exclusively and irrevocably pledged to and constitute a trust fund, in accordance with the terms hereof and the provisions of the Trust Agreement and the Law, for the security and payment or redemption of, and for the security and payment of interest on the Bonds; but nevertheless, in accordance with the Trust Agreement, out of Revenues certain amounts may be applied for other purposes as provided in the Trust Agreement. The Bonds are special obligations of the Authority, payable solely from and secured by a first lien on and pledge of the aforementioned Revenues as specified herein and certain other funds held by the Trustee as provided in the IndentureTrust Agreement. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to Neither the payment of the principal of or interest or redemption premiums (if any) on the Bonds, nor any interest thereon, constitutes a debt, liability or obligation of the City, the Agency (as that term is defined in the Trust Agreement), the Authority or the State of California. The Bonds are do not secured by a legal constitute an indebtedness within the meaning of any constitutional or equitable pledge of, statutory debt limitation or charge, lien or encumbrance upon, any of the property restriction. The rights and obligations of the Authority and the holders of the Bonds may be modified or amended at any of its income or receiptstime in the manner, except to the Revenues extent and such other funds as upon the terms provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds Trust Agreement, but no such modification or amendment shall (1) extend the “Local Obligations”) being simultaneously issued by fixed maturity of this Bond or reduce the City rate of Belvedere (interest hereon or extend the “City”)time of payment of interest, and to pay or reduce the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale amount of the Local Obligations to principal hereof or reduce any premium payable upon the Authority toward redemption hereof, without the defeasance and refunding of assessment bonds previously issued by the City. The obligation consent of the City holder hereof, or (2) reduce the percentage of Bonds required for the affirmative vote or written consent to make payments of principal and interest on the Local Obligations is a limited obligation secured only an amendment or modification, all as more fully set forth thereinin the Trust Agreement. The Bonds maturing on or before September 2after June 1, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, 20 are subject to optional call and redemption prior to maturitymaturity on or after June 1, 20 at the option of the Authority, as a whole or in part among on any date, as is set forth in a Request of the Authority, from such maturities as are selected by the Authority and by lot within (including sinking fund payments as a maturity, on any date on or after September 2, 20__), from funds derived amounts deposited with the Trustee by the Authority from any sourcefunds available therefor other than proceeds of insurance or eminent domain proceedings, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with redeemed plus accrued but unpaid interest thereon to the date fixed for redemptionredemption date, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call redemption on any date without premium under the circumstances prescribed and redemption prior to maturityas provided in the Trust Agreement, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__part, through March 2, 20__ 103% September 2, 20__, the application of proceeds of insurance and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemptioneminent domain proceedings. The Term Bonds maturing on September 2June 1, 20__ (the “20__ Term Bonds”), are 20 shall be subject to mandatory sinking payment redemption from mandatory Sinking Account Payments, in part on September 2, 20__, and on each September 2 thereafter to maturitypart, by lot, on June 1, 20 and on June 1, 20 from money on hand in the Principal Fund at a redemption price equal to the principal amount thereof thereof, plus accrued interest thereon to the redemption date, without premium. The principal amount of such Term Bonds to be redeemedredeemed and the dates therefor shall be as set forth in the following schedule: Redemption Date (June1) * *Maturity The Term Bonds maturing on June 1, together with 20 shall be subject to mandatory redemption from mandatory Sinking Account Payments, in part, by lot, on June 1, 20 and on June 1, 20 from money on hand in the Principal Fund at a redemption price equal to the principal amount thereof, plus accrued interest thereon to the redemption date, without premium. The principal amount of such Term Bonds to be redeemed and the dates therefor shall be as set forth in the following schedule: Redemption Date (June1) * *Maturity As provided in the Trust Agreement, notice of redemption shall be mailed, by first class mail, not less than 30 nor more than 60 days prior to the redemption date, to the registered owner of Bonds designated for redemption, but neither failure to receive such notice nor any defect in the notice so mailed shall affect the sufficiency of the proceedings for redemption. The Authority shall have the right to rescind notices of redemption as provided in the Trust Agreement. If this Bond is called for redemption and payment is duly provided therefor as specified in the Trust Agreement, interest shall cease to accrue hereon from and after the date fixed for redemption. If an event of default, as defined in the Trust Agreement, shall occur, the principal of all Bonds may be declared due and payable upon the conditions, in the manner and with the effect provided in the Trust Agreement but such declaration and its consequences may be rescinded and annulled as further provided in the Trust Agreement. The Bonds are issuable only as fully registered Bonds without premiumcoupons in the denomination of $5,000 and any integral multiple thereof. Subject to the limitations and conditions and upon payment of the charges, from sinking payments if any, as follows:provided in the Trust Agreement, Bonds may be exchanged for a like aggregate principal amount of fully registered Bonds of any other authorized denominations subject to the conditions and restrictions contained in the Trust Agreement. This Bond is transferable by the registered owner hereof, in person or by his or her attorney duly authorized in writing, at said office of the Trustee, but only in the manner, subject to the limitations and upon payment of the charges provided in the Trust Agreement, and upon surrender and cancellation of this Bond. Upon such transfer a new fully registered Bond or Bonds without coupons of authorized denomination or denominations, for the same aggregate principal amount, will be issued to the transferee in exchange herefor. The Authority and the Trustee may treat the registered owner hereof as the absolute owner hereof for all purposes, and the Authority and the Trustee shall not be affected by any notice to the contrary. It is hereby certified that all of the conditions, things and acts required to exist, to have happened or to have been performed precedent to and in the issuance of this Bond do exist, have happened or have been performed in due and regular time, form and manner as required by the Law and the laws of the State of California, and that the amount of this Bond, together with all other indebtedness of the Authority, does not exceed any limit prescribed by the Law or any laws of the State of California, and is not in excess of the amount of Bonds permitted to be issued under the Trust Agreement. This Bond shall not be entitled to any benefit under the Trust Agreement or become valid or obligatory for any purpose until the certificate of authentication and registration hereon endorsed shall have been manually signed by the Trustee. Unless this Bond is presented by an authorized representative of The Depository Trust Company to the issuer or its agent for registration of transfer, exchange or payment, and any certificate issued is registered in the name of Cede & Co. or such other name as requested by an authorized representative of The Depository Trust Company and any payment is made to Cede & Co., ANY TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL since the registered owner hereof, Cede & Co., has an interest herein.

Appears in 1 contract

Samples: Trust Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYNo. FXR- --- ----------------- ---------------- AIRGAS, a joint powers authority organized INC. MEDIUM-TERM NOTE, SERIES A (Fixed Rate) ORIGINAL ISSUE DATE: INTEREST RATE: % STATED MATURITY DATE: INTEREST PAYMENT DATE(S) DEFAULT RATE: % [ ] and existing ------- ------- [ ] Other: INITIAL REDEMPTION INITIAL REDEMPTION ANNUAL REDEMPTION DATE: PERCENTAGE: % PERCENTAGE REDUCTION: % OPTIONAL REPAYMENT [ ] CHECK IF AN ORIGINAL DATE(S): ISSUE DISCOUNT NOTE Issue Price: % AUTHORIZED DENOMINATION: [ ] $1,000 and integral multiples thereof [ ] Other: ADDENDUM ATTACHED OTHER/ADDITIONAL PROVISIONS: [ ] Yes [ ] No AIRGAS, INC., Delaware Corporation (the "Company", which terms include any successor corporation under the laws of the State of California (the “Authority”Indenture hereinafter referred to), for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above , or registered assigns (assigns, the “Registered Owner”)principal sum of , on the Stated Maturity Date identified specified above (subject or any Redemption Date or Repayment Date, each as defined on the reverse hereof) (each such Stated Maturity Date, Redemption Date or Repayment Date being hereinafter referred to any right of prior redemption hereinafter mentioned), as the Principal Amount identified above in lawful money of "Maturity Date" with respect to the United States of America; principal repayable on such date) and to pay interest thereon thereon, at the Interest Rate identified per annum specified above, until the principal hereof is paid or duly made available for payment, and (to the extent that the payment of such interest shall be legally enforceable) at the Default Rate per annum specified above on any overdue principal, premium and/or interest. The Company will pay interest in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated arrears on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such each Interest Payment Date, in which event it shall bear interest from such if any, specified above (each, an "Interest Payment Date"), or unless this Bond is authenticated commencing with the first Interest Payment Date next succeeding the Original Issue Date specified above, and on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified aboveMaturity Date; provided, however, that ifif the Original Issue Date occurs between -------- ------- a Record Date (as defined below) and the next succeeding Interest Payment Date, at interest payments will commence on the time of authentication second Interest Payment Date next succeeding the Original Issue Date to the holder of this Bond, interest is in default Note on the Record Date with respect to such second Interest Payment Date. Interest on this BondNote will be computed on the basis of a 360-day year of twelve 30-day months. Interest on this Note will accrue from, this Bond shall bear interest from and including, the immediately preceding Interest Payment Date to which interest hereon has previously been paid or made available duly provided for payment)(or from, payable semiannually on September 2 and March 2 in each yearincluding, commencing March 2the Original Issue Date if no interest has been paid or duly provided for) to, 2017 (but excluding, the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each applicable Interest Payment Date or the Maturity Date, as the case may be (each, an "Interest Period"). The interest so payable, and punctually paid or duly provided for, on any Interest Payment Date will, subject to certain exceptions described herein, be paid to the Registered Owner hereof person in whose name this Note (or one or more predecessor Notes) is registered at the address close of the Registered Owner as it appears business on the registration books of the Trustee as of the 15th fifteenth calendar day of the month (whether or not a Business Day, as defined below) immediately preceding such Interest Payment Date (the "Record Date, whether or not such day is a Business Day"); provided, however, that payment of interest may payable on -------- ------- the Maturity Date will be made by wire transfer payable to an account the person to whom the principal hereof and premium, if any, hereon shall be payable. Any such interest not so punctually paid or duly provided for ("Defaulted Interest") will forthwith cease to be payable to the holder on any Record Date, and shall be paid to the person in the United States of America to any whose name this Note is registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of at the close of business on a special record date (the 15th "Special Record Date") for the payment of such Defaulted Interest to be fixed by the Trustee hereinafter referred to, notice whereof shall be given to the holder of this Note by the Trustee not less than 10 calendar day days prior to such Special Record Date or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which this Note may be listed, and upon such notice as may be required by such exchange, all as more fully provided for in the Indenture. Payment of principal, premium, if any, and interest in respect of this Note due on the Maturity Date will be made in immediately available funds upon presentation and surrender of this Note (and, with respect to any applicable repayment of this Note, a duly completed election form as contemplated on the reverse hereof) at the corporate trust office of the month preceding Trustee maintained for that purpose in the Borough of Manhattan, The City of New York, currently located at 000 Xxxxxxx Xxxxxx, New York, New York 10286, or at such other paying agency in the Borough of Manhattan, The City of New York, as the Company may determine; provided, however, that a holder of $10,000,000 or more in aggregate principal -------- ------- amount of Notes (whether having identical or different terms and provisions) will be entitled to receive interest payments on such Interest Payment Date by wire transfer of immediately available funds if appropriate wire transfer instructions have been received in writing by the Trustee not less than 15 calendar days prior to such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held Any such wire transfer instructions received by the Trustee as provided shall remain in the Indentureeffect until revoked by such holder. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on If any Interest Payment Date or the Maturity Date falls on a day that is not a Business Day, the required payment of principal, premium, if any, and/or interest shall be made on the next succeeding Business Day with the same force and effect as if made on the date such payment was due, and no interest shall accrue with respect to such payment for the period from and after such Interest Payment Date or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed)Maturity Date, as set forth belowthe case may be, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:next succeeding Business Day.

Appears in 1 contract

Samples: Note Agreement (Airgas Inc)

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYEconomic Development Authority of Albemarle County, Virginia, a joint powers authority organized and existing under the laws political subdivision of the State Commonwealth of California Virginia (the “Authority”), for value received, hereby promises to pay (but only out upon surrender hereof at the designated corporate trust office of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above U.S. Bank National Association, Richmond, Virginia, as successor trustee, or registered assigns its successor in trust (the “Registered OwnerTrustee”), under the Agreement of Trust (as hereinafter defined) solely from the source and as hereinafter provided, to the registered owner hereof, or its registered assigns or legal representative, the principal sum stated above on the Maturity Date identified above (maturity date stated above, subject to any right of prior redemption as hereinafter mentionedprovided, and to pay, solely from such source, interest hereon on each [June 1 and December 1], beginning [December 1, 2021], at the annual rate stated above, calculated on the basis of a 360-day year of twelve 30-day months. Interest is payable (a) from June [24], 2021, if this bond is authenticated prior to [December 1, 2021], or (b) otherwise from the [June 1 or December 1] that is, or immediately precedes, the date on which this bond is authenticated (unless payment of interest hereon is in default, in which case this bond shall bear interest from the date to which interest has been paid). Interest is payable by check or draft mailed to the registered owner hereof at its address as it appears on the [15th] day of the month preceding each interest payment date on registration books kept by the Trustee; provided, however, that (x) if the Series 2021A Bonds (as hereinafter defined) are registered in the name of The Depository Trust Company (“DTC”), or any successor securities depository, or its nominee as registered owner or (y) at the option of a registered owner of at least $1,000,000 of Series 2021A Bonds, payment will be made by wire transfer pursuant to the most recent wire instructions received by the Trustee from such registered owner. If such interest payment date is not a Business Day (as defined in the Agreement of Trust), such payment shall be made on the next succeeding Business Day with the same effect as if made on the day such payment was due and no interest shall accrue hereon. Principal Amount identified above and interest are payable in lawful money of the United States of America; and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond. Notwithstanding any other provision hereof, this Bond bond is subject to book-entry form maintained by DTC, and the payment of principal and interest, the providing of notices and other matters shall bear interest from be made as described in the Interest Payment Date Authority’s Letter of Representations to which interest hereon has previously been paid or made available for paymentDTC. This bond is one of an issue of $[ ] Public Facility Revenue and Refunding Bonds (Albemarle County Projects), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 Series 2021A (Federally Tax-Exempt) (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Series 2021A Bonds”), limited in principal amount authorized and issued pursuant to $_____________the Virginia Industrial Development and Revenue Bond Act, Chapter 49, Title 15.2, Code of Virginia of 1950, as amended. The Series 2021A Bonds are issued under and secured by an Indenture Agreement of Trust dated as of July March 1, 2016 (the “Indenture”)2003, by and between the Authority and the Trustee, as previously supplemented and as further supplemented by a Sixth Supplemental Agreement of Trust dated as of June 1, 2021 (collectively, the “Agreement of Trust”). Contemporaneously with the issuance of the Series 2021A Bonds, the Authority is issuing its $[ ] Public Facility Revenue Bonds (Albemarle County Projects), Series 2021B (Federally Taxable) (the “Series 2021B Bonds”), pursuant to the Agreement of Trust. The Series 2021A Bonds will be secured on a parity with the Series 2021B Bonds and the Authority’s outstanding [(a) Public Facility Revenue and Refunding Bonds (Albemarle County Project), Series 2011 (the “Series 2011 Bonds”), (b) Public Facility Revenue Bonds (Albemarle County Project), Series 2013 (the “Series 2013 Bonds”), (c) Public Facility Revenue Bonds (Albemarle County Projects), Series 2015B (the “Series 2015B Bonds”), and (d) Public Facility Revenue Bonds (Albemarle County Projects), Series 2017 (the “Series 2017 Bonds” and, together with [the Series 2011 Bonds,] the Series 2013 Bonds and the Series 2015B Bonds, the “Existing Parity Bonds”), except as otherwise provided. The Agreement of Trust assigns to the Trustee, as security for the Existing Parity Bonds, the Series 2021A Bonds, the Series 2021B Bonds and any additional bonds to be issued under the Agreement of Trust, (a) the revenues and receipts derived from a Financing Agreement dated as of March 1, 2003, as previously supplemented and as further supplemented by a Fifth Supplemental Financing Agreement dated as of June 1, 2021 (collectively, the “Financing Agreement”), between the Authority and the County of Albemarle, Virginia (the “County”), and (b) the Authority’s rights under the Financing Agreement (except for the Authority’s rights under the Financing Agreement to the payment of certain fees and expenses and the rights to notices). Reference is hereby made to the Indenture and all indentures supplemental thereto Agreement of Trust for a description of the rights thereunder of the owners of the Bondsprovisions, of among others, with respect to the nature and extent of the Revenues (as that term is defined in the Indenture)security, of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all the Trustee, the rights of the terms holders of the Indenture are hereby incorporated herein and constitute a contract between the Authority Series 2021A Bonds and the Registered Owner hereof, and to all of terms upon which the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Series 2021A Bonds are authorized to issued and secured. Additional bonds secured by a pledge of revenues and receipts derived from the County under the Financing Agreement on a parity with the Existing Parity Bonds, the Series 2021A Bonds and the Series 2021B Bonds may be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as terms and to the extent conditions set forth in the Indenture, are payable solely from and secured by a first lien on and pledge Agreement of Trust. Capitalized terms not otherwise defined herein shall have the Revenues and certain other funds held by the Trustee as provided meanings assigned such terms in the IndentureAgreement of Trust. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Series 2021A Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”a) being simultaneously issued by the City of Belvedere (the “City”), and to pay finance the costs of issuing certain projects in the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations County’s Capital Improvement Plan including (without limitation) capital expenditures related to the Authority toward the defeasance following governmental and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price public purpose categories: [(expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:i) County administration,

Appears in 1 contract

Samples: Supplemental Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYCounty of Xxxxxxxx, a joint powers authority organized and existing under the laws of the State of California Minnesota (the “Authority”"Issuer"), certifies that it is indebted and for value received, hereby received promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above registered owner specified above, or registered assigns (assigns, in the “Registered Owner”)manner hereinafter set forth, the principal amount specified above, on the Maturity Date identified maturity date specified above, unless called for earlier redemption, and to pay interest thereon semiannually on February 1 and August 1 of each year (each, an "Interest Payment Date"), commencing February 1, 2018, at the rate per annum specified above (subject calculated on the basis of a 360-day year of twelve 30-day months) until the principal sum is paid or has been provided for. This Bond will bear interest from the most recent Interest Payment Date to any right which interest has been paid or, if no interest has been paid, from the date of prior redemption hereinafter mentionedoriginal issue hereof. The principal of and premium, if any, on this Bond are payable upon presentation and surrender hereof at the principal office of Northland Trust Services, Inc., in Minneapolis, Minnesota (the "Bond Registrar"), acting as paying agent, or any successor paying agent duly appointed by the Principal Amount identified above Issuer. Interest on this Bond will be paid on each Interest Payment Date by check or draft mailed to the person in whose name this Bond is registered (the "Holder" or "Bondholder") on the registration books of the Issuer maintained by the Bond Registrar and at the address appearing thereon at the close of business on the fifteenth day of the calendar month next preceding such Interest Payment Date (the "Regular Record Date"). Any interest not so timely paid shall cease to be payable to the person who is the Holder hereof as of the Regular Record Date, and shall be payable to the person who is the Holder hereof at the close of business on a date (the "Special Record Date") fixed by the Bond Registrar whenever money becomes available for payment of the defaulted interest. Notice of the Special Record Date shall be given to Bondholders not less than ten days prior to the Special Record Date. The principal of and premium, if any, and interest on this Bond are payable in lawful money of the United States of America; . So long as this Bond is registered in the name of the Depository or its Nominee as provided in the Resolution hereinafter described, and to pay as those terms are defined therein, payment of principal of, premium, if any, and interest thereon at on this Bond and notice with respect thereto shall be made as provided in Letter of Representations, as defined in the Interest Rate identified above in like money from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication Resolution, and surrender of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day shall not be required for payment of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption price upon a partial redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at Until termination of the Principal Office (as defined book-entry only system pursuant to the Resolution, Bonds may only be registered in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check name of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether Depository or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the Trustee. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereof, and to all of the provisions of which Indenture the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:Nominee.

Appears in 1 contract

Samples: Nurse Family Partnership Program Agreement

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYSan Diego Unified School District, a joint powers authority organized and existing under the laws County of the San Diego, State of California (herein called the “AuthorityDistrict”), for value received, hereby acknowledges itself obligated to and promises to pay (pay, but only out from taxes collected by the County for such purpose pursuant to Section 15250 of the Revenues and other funds hereinafter referred to) California Education Code, to the Registered Owner identified above or registered assigns (the “Registered Owner”), on the Maturity Date identified set forth above (subject to any right of or upon prior redemption hereinafter mentioned)hereof, the Principal Amount identified specified above in lawful money of the United States of America; , and to pay interest thereon at the Interest Rate identified above in like lawful money from the Interest Payment Date (as hereinafter defined) interest payment date next preceding the date of authentication of this Bond bond (unless this Bond bond is authenticated on or before an Interest Payment Date interest payment date and after the fifteenth calendar day close of business on the month preceding such Interest Payment DateRecord Date (as defined herein), in which event it shall bear interest from such Interest Payment Dateinterest payment date, or unless this Bond bond is authenticated on or prior to January 16before 15, 2016, in which event it interest thereon shall bear interest be payable from the Dated Date identified above; provided, however, that if, date hereof) at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment)rate per annum stated above, payable semiannually commencing on September 2 1, 2016, and March 2 thereafter on January 1 and July 1 in each year, commencing March 2, 2017 (until payment of the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this BondPrincipal Amount. The Principal Amount principal hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof upon the surrender hereof at the address designated corporate trust office of the Registered Owner as it paying agent/registrar and transfer agent of the District (herein called the “Paying Agent”), initially the Treasurer-Tax Collector of the County of San Diego. The interest hereon is payable to the person whose name appears on the bond registration books of the Trustee Paying Agent as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose Registered Owner hereof as of the close of business on the 15th calendar day of the calendar month preceding such Interest Payment Date. This Bond is a limited obligation of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt of the City of Belvedere an interest payment date (the “CityRecord Date), whether or not such day is a business day, such interest to be paid by check mailed to such Registered Owner at the Registered Owner’s address as it appears on such registration books, or at such other address filed with the Paying Agent for that purpose. Upon written request, given no later than the Record Date immediately preceding an interest payment date, of the Registered Owner of Bonds (hereinafter defined) or the State aggregating at least $1,000,000 in principal amount, interest will be paid by wire transfer of California or any of its political subdivisions (except the Authority and only immediately available funds to the extent set forth an account maintained in the Indenture)United States as specified by the Registered Owner in such request. So long as Cede & Co. or its registered assigns shall be the Registered Owner of this bond, and none payment shall be made by wire transfer of immediately available funds as provided in the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing powerPaying Agent Agreement hereinafter described. This Bond bond is one of a duly authorized issue of bonds of like tenor (except for such variations, if any, as may be required to designate varying series, numbers, denominations, interest rates, interest payment modes, maturities and redemption provisions), amounting in the Authority aggregate to $ , and designated the as Belvedere Public Financing Authority 2016 Revenue San Diego Unified School District 2015 General Obligation Bonds (Dedicated Unlimited Ad Valorem Property Tax Bonds) (Election of 2012, Series [D (Federally Taxable)/E/F/G])” (the “Bonds”). The Bonds are part of an authorization of $2,800,000,000 approved by a vote of at least 55% of the voters voting at an election duly and legally called, limited held and conducted in principal amount the District on November 6, 2012. The Bonds were authorized by a resolution adopted by the Board of Education of the District (the “Board”) on , 2015 (the “District Resolution”) and a resolution of the Board of Supervisors of the County adopted on , 2015 ( the “County Resolution”), are issued by the Board of Education of the District and executed and sold by the County pursuant to $_____________and in strict conformity with the provisions of the Constitution and laws of the State, secured by an Indenture of Trust the District Resolution, the County Resolution and the Paying Agent Agreement, dated as of July August 1, 2016 2010, as supplemented and amended, including as supplemented by the [Sixth] Supplemental Paying Agent Agreement, dated as of [October] 1, 2015 (collectively, the “IndenturePaying Agent Agreement”), by and between the Authority District and the TrusteePaying Agent. Reference is hereby made to the Indenture District Resolution, the County Resolution, the Paying Agent Agreement and any and all indentures supplemental thereto amendments thereof for a description of the terms on which the Bonds are issued, for the rights thereunder of the owners Owners of the Bonds, for the provisions for payment of the nature Bonds, and extent for the amendment of the Revenues Paying Agent Agreement (as that term is defined in the Indenture), with or without consent of the rights, duties and immunities Owners of the Trustee and of the rights and obligations of the Authority thereunderBonds); and all of the terms of the Indenture District Resolution, the County Resolution and the Paying Agent Agreement are hereby incorporated herein and constitute a contract between the Authority District and the Registered Owner of this Bond, to all the provisions of which the Registered Owner of this Bond, by acceptance hereof, agrees and consents. Capitalized undefined terms used herein have the meanings ascribed thereto in the Paying Agent Agreement. The Bonds are issuable as fully registered bonds without coupons in the denomination of $5,000 principal amount or any integral multiple thereof, provided that no Bond shall have principal maturing on more than one principal maturity date. Subject to the limitations and conditions and upon payment of the charges, if any, as provided in the Paying Agent Agreement, Bonds may be exchanged for a like aggregate principal amount of Bonds of the same series, tenor, interest payment mode and maturity of other authorized denominations. This bond is transferable by the Registered Owner hereof, and to all in person or by attorney duly authorized in writing, at the designated corporate trust office of the provisions Paying Agent, but only in the manner, subject to the limitations and upon payment of which Indenture the charges provided in the Paying Agent Agreement, and upon surrender and cancellation of this bond. Upon such transfer, a new Bond or Bonds of authorized denomination or denominations of the same series, tenor, interest payment mode and same aggregate principal amount will be issued to the transferee in exchange therefor. The District and the Paying Agent may treat the Registered Owner hereofhereof as the absolute owner hereof for all purposes, and the District and the Paying Agent shall not be affected by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and any notice to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bondscontrary. The Bonds are not secured by a legal or equitable pledge subject to redemption prior to their stated maturity dates. The Bonds represent an obligation payable out of the interest and sinking fund of the District, and the money for the payment of principal of, or chargepremium, lien or encumbrance uponif any, any of and interest hereon, shall be raised by taxation upon the taxable property of the Authority District. This bond shall not be entitled to any benefit under the Paying Agent Agreement, or become valid or obligatory for any purpose, until the certificate of its income or receipts, except the Revenues authentication and such other funds as provided in the Indenture. The Bonds registration hereon endorsed shall have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued signed by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:Paying Agent.

Appears in 1 contract

Samples: Supplemental Paying Agent Agreement

Principal Amount. DOLLARS The BELVEDERE STOCKTON PUBLIC FINANCING AUTHORITY, a joint exercise of powers authority entity duly organized and existing under and by virtue of the laws of the State of California (the “Authority”―Authority‖), for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified specified above or registered assigns (the “Registered Owner”―Registered Owner‖), on the Maturity Date identified specified above (subject to any right of prior redemption hereinafter mentionedprovided for), the Principal Amount identified above specified above, in lawful money of the United States of America; , and to pay interest thereon at in like lawful money from and including the Interest Rate identified above in like money from the Interest Payment Accrual Date (as defined in the hereinafter defineddefined Indenture) next preceding the (unless (i) such date of authentication of is an Interest Accrual Date to which interest on this Bond has been paid in full or duly provided for, in which case interest shall be payable from such date of authentication, or (unless ii) this Bond is authenticated on or before an Interest Payment Date October The principal and after the fifteenth calendar day Purchase Price of the month preceding such Interest Payment Dateand premium, in which event it shall bear if any, and interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear be payable in lawful money of the United States of America. Such amounts shall be paid by the Trustee on the applicable payment dates (i) while this Bond bears interest from other than at a Long- Term Interest Rate, by wire transfer of immediately available funds on the Interest Payment applicable Record Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, as trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in within the United States of America specified by the Owner thereof in writing delivered to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with Trustee, and (ii) while this Bond bears interest at the Long-Term Interest Rate, by check mailed by the Trustee for that purpose to the respective Owners thereof on the applicable Interest Payment Date at their addresses as they appear as of the close of business on the 15th calendar day applicable Record Date in the registration books kept by the Trustee, except that in the case of such an Owner of $1,000,000 or more in aggregate principal amount of Bonds, upon the month preceding written request of such Interest Payment Date. This Bond is a limited obligation of Owner to the Authority, payable solely from the Revenues and funds pledged under the Indenture Trustee at least two Business Days (as defined belowin the Indenture) before the Record Date, specifying the account or accounts in the United States to which such payment shall be made, such payments shall be made by wire transfer of immediately available funds on the applicable payment date following such Record Date. Any request referred to in clause (ii) of the preceding sentence shall remain in effect until revoked or revised by such Owner by an instrument in writing delivered to the Trustee. Bank Bonds (as defined in the Indenture) shall be payable as set forth in the Credit Facility (as defined in the Indenture). This Bond is not shall be issued in the form of a debt of the City of Belvedere fully registered Bond in Authorized Denominations (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth as defined in the Indenture), ; provided that no Bond shall have principal represented thereby maturing in more than one year. Subject to the limitations and none conditions and upon payment of the Citytaxes and governmental charges provided in the Indenture, said State this Bond may be exchanged or transferred as provided in the Indenture at the Principal Corporate Trust Office of the Trustee. Capitalized terms used herein and not defined herein have the meaning assigned thereto in the Indenture. This Bond shall not be entitled to any benefit under the Indenture or become valid or obligatory for any purpose until the certificate of its political subdivisions is liable hereon. The Authority has no taxing powerauthentication hereon endorsed shall have been signed by the Trustee. This Bond is one of a duly authorized issue of revenue bonds of the Authority designated the “Belvedere Public Financing Authority 2016 as its ―Variable Rate Demand Water Revenue Bonds, Series 2010A (Delta Water Supply Project)‖ (the “Bonds”―Bonds‖) in the aggregate principal amount of $55,000,000 all of like tenor and date (except for such variations, if any, as may be required to designate varying numbers, maturities and interest rates), and is issued under and pursuant to the provisions of the Joint Exercise of Powers Act (being Chapter 5 of Division 7 of Title 1 of the California Government Code, as amended) and all laws amendatory thereof or supplemental thereto (the ―Act‖) and under and pursuant to the provisions of the Indenture (copies of which are on file at the Principal Corporate Trust Office of the Trustee ). The Bonds are issued to provide funds to finance the cost of the acquisition and construction of certain additions, betterments, extensions and improvements to the Water System (the ―2010 Water Project‖) of the City of Stockton (the ―City‖) to be sold by the Authority to the City. The Bonds are limited in obligations of the Authority and are payable, as to interest thereon, principal amount thereof and any redemption premiums thereon, solely from the Revenues (the ―Revenues‖) constituting the installment payments (the ―Installment Payments‖) to $_____________be made by the City to the Authority for the purchase of the 2010 Water Project pursuant to the Installment Purchase Contract, secured by an Indenture of Trust dated as of July October 1, 2016 (the “Indenture”)2010, by and between the Authority City and the TrusteeAuthority (the ―Installment Purchase Contract‖) and the funds held in the accounts and funds pursuant to the Indenture as provided therein, and the Authority is not obligated to pay interest on or principal of or redemption premiums, if any, on the Bonds except from the Revenues and such funds. All the Bonds are equally and ratably secured in accordance with the terms and conditions of the Indenture by a pledge of and charge and lien upon the Revenues and such funds, and the Revenues and such funds constitute a trust fund for the security and payment of the interest on and principal of and redemption premiums, if any, on the Bonds as provided in the Indenture. The full faith and credit of the Authority is not pledged for the payment of the interest on or principal of or redemption premiums, if any, on the Bonds, and no tax shall ever be levied or collected to pay the interest on or principal of or redemption premiums, if any, on the Bonds. The Bonds are not secured by a legal or equitable pledge of or charge or lien upon any property of the Authority or any of its income or receipts except the Revenues and such funds. Neither the payment of the interest on or principal of or redemption premiums, if any, on the Bonds is a debt, liability or general obligation of the City or the State of California and neither the faith and credit of the City or the State of California are pledged to the payment of interest on or principal or redemption premiums, if any, on the Bonds. Reference is hereby made to the Act and to the Indenture and any and all indentures supplemental amendments thereof and supplements thereto for a description of the rights thereunder of terms on which the owners of Bonds are issued, the Bonds, of provisions with regard to the nature and extent of the Revenues (as that term is defined in Revenues, the Indenture), rights of the rights, duties and immunities registered owners of the Trustee and Bonds, the security for payment of the rights Bonds, the remedies upon default and obligations limitations thereon, and the amendment of the Authority thereunderIndenture (with or without consent of the registered owners of the Bonds); and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereofregistered owner of this Bond, and to all of the provisions of which Indenture the Registered Owner hereofregistered owner of this Bond, by acceptance hereof, assents agrees and agreesconsents. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”)shall bear interest initially at a Weekly Interest Rate for a Weekly Interest Rate Period. The Bonds are limited obligations of the Authority andmay bear interest from time to time at (i) a Daily Interest Rate during a Daily Interest Rate Period, (ii) a Weekly Interest Rate during a Weekly Interest Rate Period, (iii) Bond Interest Term Rates during a Short-Term Interest Rate Period, or (iv) a Long Term Interest Rate during a Long-Term Interest Rate Period, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided defined in the Indenture. The Revenues All of the Bonds must be in the same interest rate mode. Interest shall be computed, in the case of a Long-Term Interest Rate Period, on the basis of a 360-day year consisting of twelve 30-day months, and such other funds constitute in the case of a trust fund Daily Interest Rate Period, a Weekly Interest Rate Period or a Short-Term Interest Rate Period, on the basis of a 365 or 366-day year, as appropriate, for the security and payment actual number of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenturedays elapsed. The full faith and credit of Authority may elect to adjust the Authority is not pledged Interest Rate Period with respect to all the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge ofto an alternate Interest Rate Period, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided subject to certain conditions specified in the Indenture. The Bonds have been issued shall be subject to provide funds redemption prior to purchase limited obligation refunding improvement bonds (maturity as follows: The Bonds shall be subject to redemption prior to the “Local Obligations”) being simultaneously issued Maturity Date by the City Authority, in whole or in part, in accordance with the provisions of Belvedere the Indenture. Bonds bearing interest at a Daily Interest Rate or a Weekly Interest Rate shall be subject to optional redemption by the Authority, in whole or in part, at a Redemption Price of 100% of the principal amount thereof on any Business Day. Any Bond bearing interest at Bond Interest Term Rates shall be subject to optional redemption by the Authority, at a Redemption Price of 100% of the principal amount thereof on the day succeeding the last day of any Bond Interest Term with respect to that Bond. During a Long-Term Interest Rate Period, the Bonds bearing interest at a Long-Term Interest Rate shall be subject to optional redemption by the Authority, (i) on the “City”)first day of such Long-Term Interest Rate Period, in whole or in part, at a Redemption Price of 100% of the principal amount thereof, and (ii) thereafter, during the periods specified below or, subject to pay delivery to the costs Trustee of issuing a Favorable Opinion of Bond Counsel, during the periods specified in the notice of the City electing the Conversion of the Bonds and to such Long-Term Interest Rate Period, in whole at any time or in part from time to time, at the Local Obligations. The City will apply redemption prices (expressed as a percentage of principal amount) specified below or, as the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation case may be, in such notice of the City to make payments of principal the Trustee, in each case plus accrued interest, if any, to the redemption date: Greater than 10 after 7 years at 101%, declining by 1% every year to 100% less than or equal to 10 and interest greater than 7 after 5 years at 101%, declining by 1% every year to 100% less than or equal to 7 and greater than 4 after 3 years at 100%, less than or equal to 4 after 2 years at 100% In the event that the date on which the Local Obligations Bonds are Converted to a Long-Term Interest Rate is a limited obligation secured only as set forth therein. The date other than a day which would be an Interest Payment Date during such Long-Term Interest Rate Period, then the date on which the Bonds maturing on or before September 2, 20__, are not shall first be subject to optional call redemption pursuant to the foregoing table (after the first day of such Long-Term Interest Rate Period) shall be the first Interest Payment Date next succeeding the date on which the Bonds otherwise would be subject to redemption, and the redemption price shall be adjusted on each anniversary of that Interest Payment Date as provided in such table. Except as may be provided in the Indenture, the Bonds shall also be subject to redemption prior to maturity. The Bonds maturing on and after September 2their stated maturities, 20__in part, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__lot, from funds derived mandatory redemptions required by and as specified in the Authority from any sourceIndenture commencing on October 1, 20 to and including October 1, 20 , at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with thereof plus accrued interest thereon to but not including the date fixed for redemption, without premium. The Authority shall deliver Bonds bearing interest at a Weekly Interest Rate and Daily Interest Rate are subject to optional tender and purchase as provided in the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemptionIndenture. The All Bonds are subject to mandatory call purchase on the first day of each Interest Rate Period and redemption prior to maturityupon the occurrence of certain other events, all as a whole or provided in part among such maturities as are selected by the Indenture. The Indenture and the rights and obligations of the Authority and the City and Owners and the Trustee thereunder may be amended or supplemented at any time by lot within a maturity, on any Interest Payment Date on an amendment or after September 2, 20__, from amounts received by supplement which shall become binding when the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage written consents of the Owners of a majority in aggregate principal amount of the Bonds then Outstanding, with the written consent of the Credit Facility Provider, if any, exclusive of Bonds disqualified as provided in the Indenture, are filed with the Trustee. No such amendment or supplement shall reduce the rate of interest on any Bond or extend the time of payment thereof or reduce the amount of principal or redemption premium, if any, of any Bond or extend the maturity thereof or otherwise alter or impair the obligation of the Authority to pay the interest and principal and redemption premium, if any, thereon at the time and place and at the rate and in the currency and from the funds provided therein without the prior written consent of the Owner of the Bond so affected. The Indenture and the rights and obligations of the Authority and the City and the Owners and the Trustee thereunder may also be redeemed)amended or supplemented by an amendment or supplement which shall become binding upon execution without the written consents of any Owners for the purposes and on the terms provided in the Indenture. If an Event of Default, as set forth belowdefined in the Indenture, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bondsoccur, the principal of all Bonds may be declared due and interest generated from payable upon the remaining Local Obligations conditions, in the manner and with the effect provided in the Indenture, but such declaration and its consequences may be rescinded and annulled as further provided in the Indenture. This Bond is adequate transferable by the Registered Owner hereof, in person or by his or her duly authorized attorney, at the Principal Corporate Trust Office of the Trustee but only in the manner subject to make the timely limitations and upon payment of the taxes and charges provided in the Indenture and upon surrender and cancellation of this Bond. Upon registration of such transfer, a new Bond or Bonds, of authorized denomination or denominations, for a like aggregate principal amount and interest due on of like maturity will be issued to the transferee in exchange therefor. Bonds that will remain Outstanding hereunder following such mandatory redemptionmay be exchanged at said office of the Trustee for a like aggregate principal amount of Bonds of other authorized denominations and of like maturity, but only in the manner, subject to the limitations and upon payment of the taxes and charges provided in the Indenture. The Bonds maturing on September 2, 20__ (Authority and the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__Trustee may treat the Registered Owner hereof as the absolute owner hereof for all purposes, and on each September 2 thereafter to maturity, the Authority and the Trustee shall not be affected by lot, at a redemption price equal any notice to the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:contrary.

Appears in 1 contract

Samples: Indenture

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITYFOR VALUE RECEIVED, EDUCATION LOANS INCORPORATED, a joint powers authority corporation organized and existing under the laws of the State of California Delaware (the “Authority”"Corporation," which term includes any successor corporation under the Indenture hereinafter referred to), for value received, acknowledges itself indebted and hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to the Registered Owner identified above registered holder specified above, or registered assigns (the "Registered Owner”Holder"), but solely from the revenues and receipts hereinafter specified and not otherwise, the Principal Amount specified above on the Stated Maturity Date identified specified above (subject to any the right of prior redemption hereinafter mentioned), upon presentation and surrender of this Note at the Principal Office of the Trustee (as hereinafter defined), as Paying Agent for the Series 2001-1 Notes (as hereinafter defined), or a duly appointed successor Paying Agent, and to pay interest on said Principal Amount, but solely from the revenues and receipts hereinafter specified and not otherwise, to the Registered Holder hereof from the date hereof until the payment of said Principal Amount identified above has been made or duly provided for, payable on each Interest Payment Date and at Maturity, at the Series 2001-1 Note Interest Rate (as hereinafter described), and at the same rate per annum (to the extent that the payment of such interest shall be legally enforceable) on overdue installments of interest. Payment of interest on this Note on each regularly scheduled Interest Payment Date shall be made by check or draft drawn upon the Paying Agent and mailed to the person who is the Registered Holder hereof as of 5:00 p.m. in the city in which the Principal Office of the Note Registrar is located on the applicable Regular Record Date at the address of such Registered Holder as it appears on the Note Register maintained by the Note Registrar, or, if the Registered Holder of this Note is the Registered Holder of Series 2001-1 Notes in the aggregate principal amount of $1,000,000 or more, at the direction of such Registered Holder received by the Paying Agent by 5:00 p.m. in the city in which the Principal Office of the Paying Agent is located on the last Business Day preceding the applicable Regular Record Date, by electronic transfer by the Paying Agent in immediately available funds to an account designated by such Registered Holder. In addition, premium, if any, and interest on this Note are payable at the Maturity hereof in the same manner as the principal hereof, unless the date of such maturity is a regularly scheduled Interest Payment Date, in which event interest is payable in the manner set forth in the preceding sentence. Any interest not so timely paid or duly provided for shall cease to be payable to the person who is the Registered Holder hereof at the close of business on the Regular Record Date and shall be payable to the person who is the Registered Holder hereof at the close of business on a special record date for the payment of any such defaulted interest. Such special record date shall be fixed by the Trustee whenever moneys become available for payment of the defaulted interest, and notice of the special record date shall be given to the Registered Holder hereof not less than ten days prior thereto by first-class mail to such Registered Holder as shown on the Note Register on a date selected by the Trustee, stating the date of the special record date and the date fixed for the payment of such defaulted interest. The principal of, premium, if any, and interest on this Note are payable in lawful money of the United States of America; . This Note is one of an authorized issue of Notes (the "Notes"), issued and to pay interest thereon at be issued by the Interest Rate identified above Corporation in like money from the Interest Payment Date one or more series pursuant to an Indenture of Trust, dated as of December 1, 1999 (as hereinafter defined) next preceding supplemented and amended, the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment"Indenture"), payable semiannually on September 2 as amended and March 2 in each yearsupplemented by a First Supplemental Indenture of Trust, commencing March 2dated as of December 1, 2017 1999, a Second Supplemental Indenture of Trust, dated as of December 1, 2000, and a Third Supplemental Indenture of Trust, dated as of July 1, 2001 (the “Interest Payment Dates”) until "Third Supplemental Indenture"), each between the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation Corporation and surrender hereof at the Principal Office (as defined in the Indenture) of U.S. Bank National Association, in Minneapolis, Minnesota, as trustee Trustee (the "Trustee," which term includes any successor trustee under the Indenture). Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account As provided in the United States Indenture, the Notes are issuable in series which may vary as in the Indenture provided or permitted. This Note is one of America to any registered owner a series of Bonds Class B Notes issued in an aggregate principal amount of $23,800,000 (the "Series 2001-1C Notes"). The Series 2001-1C Notes are issued simultaneously with two series of Class A Notes issued in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed 158,000,000 (the "Series 2001-1 Senior Notes" and, together with the Trustee for that purpose Series 2001-1C Notes, collectively referred to herein as the "Series 2001-1 Notes"). The proceeds of the close Series 2001-1 Notes will be used by the Corporation to (a) acquire student loan notes incurred under the Higher Education Act and under certain Alternative Loan Programs, (b) fund the Reserve Fund, (c) pay a portion of business the interest coming due on the 15th calendar day Series 2001-1 Notes and (d) pay Costs of Issuance of the month preceding such Interest Payment DateSeries 2001-1 Notes. This Bond is The Series 2001-1 Senior Notes are being issued on a limited obligation of parity, and are equally and ratably secured under the AuthorityIndenture, payable solely from with the Revenues Corporation's Student Loan Asset-Backed Notes, Senior Series 1999-A and funds pledged 1999-B, issued under the Indenture (as defined below). This Bond is not a debt Class A Notes in the original aggregate principal amount of $117,000,000, and the City Corporation's Student Loan Asset-Backed Notes, Senior Series 2000-A and 2000-B, issued under the Indenture as Class A Notes in the original aggregate principal amount of Belvedere $108,200,000 (the “City”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture"Prior Senior Notes"), and none of the CitySeries 2001-1C Notes are being issued on a parity, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of and are equally and ratably secured under the Authority designated Indenture, with the “Belvedere Public Financing Authority 2016 Revenue Bonds” (Corporation's Student Loan Asset-Backed Notes, Subordinate Series 1999-1C, issued under the “Bonds”), limited Indenture as Class B Notes in the original principal amount to of $_____________9,300,000, secured by an Indenture of Trust dated as of July 1, 2016 (the “Indenture”), by and between the Authority and the TrusteeCorporation's Student Loan Asset-Backed Notes, Subordinate Series 2000-1C, issued under the Indenture as Class B Notes in the original principal amount of $22,000,000. Reference is hereby made to the Indenture and all indentures supplemental thereto for a description Indenture, copies of which are on file in the principal corporate trust office of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereofTrustee, and to all of the provisions of which Indenture any Registered Holder of this Note by his acceptance hereof hereby assents, for definitions of terms; the Registered Owner hereof, by acceptance hereof, assents description of and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 nature and extent of the Government Code security for the various classes of Notes and Other Obligations secured thereunder; the student loan acquisition program being financed by the issuance of the State of California (Notes; the “Act”). The Bonds are limited obligations of the Authority and, as revenues and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not moneys pledged to the payment of the principal of, premium, if any, and interest on the Notes and the Other Obligations; the nature and extent and manner of enforcement of the pledge; the conditions upon which Notes may be issued or interest Other Obligations may be incurred by the Corporation thereunder, payable from such revenues and other moneys thereunder as Senior Obligations, Subordinate Obligations or Class C Notes; the conditions upon which the Indenture may be amended or supplemented with or without the consent of the Holders of the Notes; the rights and remedies of the Registered Holder hereof with respect hereto and thereto, including the limitations upon the right of a Registered Holder hereof to institute any suit, action or proceeding in equity or at law with respect hereto and thereto; the rights, duties and obligations of the Corporation and the Trustee thereunder; the terms and provisions upon which the liens, pledges, charges, trusts and covenants made therein may be discharged at or prior to the maturity or redemption premiums (if any) on the Bonds. The Bonds are not of this Note, and this Note thereafter no longer be secured by a legal or equitable pledge ofthe Indenture, or charge, lien or encumbrance upon, any of be deemed to be Outstanding thereunder; and for the property of other terms and provisions thereof. Terms used with initial capital letters but not defined in this Note have the Authority or any of its income or receipts, except the Revenues and respective meanings given such other funds as provided terms in the Indenture. The Bonds have been Series 2001-1 Senior Notes are being issued as, and will constitute, Class A Notes under the Indenture. The Series 2001-1C Notes are being issued as, and will constitute, Class B Notes under the Indenture. The Notes and Other Obligations are limited obligations of the Corporation, payable solely from the revenues and assets of the Corporation pledged therefor under the Indenture, including certain notes evidencing Student Loans and the proceeds of the Corporation's bonds, notes or other evidences of indebtedness, if any, issued with respect to provide funds the Notes. The Series 2001-1C Notes constitute Class B Notes under the Indenture which are subordinated in right of payment, the direction of remedies and certain other matters in accordance with the terms of the Indenture to purchase limited obligation refunding improvement bonds the rights of the Holders of Class A Notes issued from time to time under the Indenture (including, without limitation, the “Local Obligations”Prior Senior Notes and the Series 2001-1 Senior Notes) being simultaneously issued by and Other Senior Beneficiaries thereunder. A failure to pay principal of, premium, if any, or interest on this Class B Note will not constitute an Event of Default under the City Indenture if any Senior Obligation is Outstanding. Interest payable on this Note shall be computed on the basis of Belvedere actual days elapsed and accrue daily from the date hereof (on the “City”basis of a 360-day year), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest is payable on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any date on or after September 2, 20__, from funds derived by the Authority from any source, at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are subject to mandatory call and redemption prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, on any each regularly scheduled Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due prior to the redemption of Local Obligations from Maturity hereof and at the prepayment of Reassessments, at a redemption price (expressed as a percentage of the principal amount of the Bonds to be redeemed), as set forth below, together with accrued Maturity hereof. The interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any payable on each Interest Payment Date thereafter 100 The Authority for this Note shall deliver to be that interest which has accrued through the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment last day of the Local Obligations and redemption last complete Interest Period immediately preceding the Interest Payment Date or, in the case of Bondsthe Maturity hereof, the last day preceding the date of such Maturity. The Series 2001-1 Note Interest Rate shall be effective as of and on the first day (whether or not a Business Day) of the applicable Interest Period and be in effect thereafter through the end of such Interest Period. The unpaid principal amount hereof from time to time outstanding shall bear interest at a Series 2001-1 Note Auction Rate, as described below, payable on each Interest Payment Date and at the Maturity hereof, such interest generated to accrue from the remaining Local Obligations is adequate to make later of the timely payment of principal and date hereof or the date through which interest due on has been paid or duly provided for. During the Bonds that will remain Outstanding hereunder following such mandatory redemptionInitial Interest Period, this Note shall bear interest at the Series 2001-1 Note Initial Interest Rate. The Bonds maturing on September 2Thereafter until an Auction Period Adjustment, 20__ (the “20__ Term Bonds”)if any, are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, this Note shall bear interest at a redemption price equal to Series 2001-1 Note Auction Rate based on an Auction Period that shall generally consist of 28 days, all as determined in the principal amount thereof to be redeemed, together with accrued interest to the date fixed for redemption, without premium, from sinking payments as follows:Third Supplemental Indenture.

Appears in 1 contract

Samples: Third Supplemental Indenture of Trust (Education Loans Inc /De)

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITY, a joint powers authority organized Under and existing under the laws by virtue of the Refunding Act of 1984 for 1915 Improvement Act Bonds, Division 11.5 of the Streets and Highways Code of California (the “Act”), the County of Orange, State of California (the “AuthorityCounty”), for value receivedwill, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) redemption fund for the payment of the bonds issued upon the unpaid portion of reassessments made for the refunding bonds more fully described in proceedings taken pursuant to Resolution No. adopted by the Board of Supervisors of the County on , 2017, pay to the Registered Owner identified above or registered assigns (the “Registered Owner”), on the Maturity Date identified above (subject to or on any right of prior earlier redemption hereinafter mentioned)date, the Principal Amount identified above in lawful money of the United States of America; and to pay interest thereon at the Rate of Interest Rate identified above in like lawful money from the date hereof payable semiannually on March 2 and September 2 in each year, commencing [March 2], 2018 (the “Interest Payment Dates”) until payment of such Principal Amount in full. This Bond shall bear interest from the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16[February 15], 20162018, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 (the “Interest Payment Dates”) until the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation and surrender hereof upon maturity or earlier redemption at the Principal Office designated corporate trust office (as defined in the Indenture“Trust Office”) of U.S. Bank National Association, as trustee Trustee (the “Trustee”). Interest hereon is payable by check of the Trustee mailed by first class mail or wire transfer on each Interest Payment Date to the Registered Owner hereof at the address of the Registered Owner as it appears on the registration books Registration Books of the Trustee as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner filed with the Trustee for that purpose as of the close of business on the 15th fifteenth calendar day of the month preceding such Interest Payment Date. This Bond is a limited obligation shall not be entitled to any benefit under the Act, the Resolution authorizing the issuance of the Authoritybonds, payable solely from adopted by the Revenues and funds pledged under the Indenture (as defined below). This Bond is not a debt Board of Supervisors of the City of Belvedere County on , 2017 (the “CityResolution of Issuance”) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), and none of the City, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond is one of a duly authorized issue of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” (the “Bonds”), limited in principal amount to $_____________, secured by an Indenture of Trust Trust, dated as of July January 1, 2016 2018 (the “Indenture”), by and between the Authority County and the Trustee, executed pursuant to the Resolution of Issuance, or become valid or obligatory for any purpose, until the certificate of authentication hereon shall have been dated and signed by the Trustee. Capitalized undefined terms used in this Bond shall have the meanings ascribed thereto in the Indenture. This Bond is one of several series of Reassessment District No. 17-1R (Newport Coast Phase IV) Limited Obligation Improvement Refunding Bonds (the “Bonds”) of like date, tenor and effect, but differing in amounts, maturities and interest rates, issued by said County under the Act and the Indenture for the purpose of providing means for paying for the refunding of the Prior Bonds as more particularly described in said proceedings, and is secured by the moneys in the redemption fund (as may be limited by the Indenture) and by the unpaid portion of said reassessments made for the payment of said refunding, and, including principal and interest, is payable exclusively out of said fund. Reference is hereby made to the Indenture and all indentures agreements supplemental thereto for a description of the rights thereunder of the owners of the Bonds, of the nature and extent of the Revenues Reassessments (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority County thereunder; and all of the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority County and the Registered Owner hereof, and to all of the provisions of which Indenture Agreement the Registered Owner hereof, by acceptance hereof, assents and agrees. The Bonds are authorized to shall be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 of the Government Code of the State of California (the “Act”). The Bonds are limited obligations of the Authority and, as and to the extent set forth in the Indenture, are payable solely from and secured by a first lien on and pledge of the Revenues and certain other funds held by the Trustee as provided in the Indenture. The Revenues and such other funds constitute a trust fund for the security and payment of the principal of and interest on the Bonds, except to the extent otherwise provided in the Indenture. The full faith and credit of the Authority is not pledged to the payment of the principal of or interest or redemption premiums (if any) on the Bonds. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing on or before September 2, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__, are subject to optional call and redemption prior to maturity, as a in whole or in part among such maturities as are selected by the Authority and by lot within a maturitypart, on any date on or after September 2, 20__, from funds derived by the Authority from any source20 , at a redemption price equal to the principal amount of the Bonds to be optionally redeemed, together with plus accrued interest thereon to the date fixed for redemption, without premium. The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such optional prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are shall be subject to mandatory call and redemption prior to maturityredemption, as a in whole or in part among such maturities as are selected part, by the Authority and by lot within a maturitylot, on any Interest Payment Date on or after September 2, 20__Date, from amounts received by the Authority due and to the redemption extent of Local Obligations from any prepayments of principal of the prepayment of ReassessmentsReassessments as more particularly set forth in the Indenture, at a the following respective redemption price prices (expressed as a percentage percentages of the principal amount of the Bonds to be redeemed), as set forth below, together with plus accrued interest thereon to the date fixed for of redemption: Redemption Date Redemption Price September 2, 20__, through . March 2, 20__ 2026 103% September 2, 20__, 2026 and March 2, 20__ 2027 102 September 2, 20__, 2027 and March 2, 20__ 2028 101 September 2, 20__, any 2028 and thereafter 100 Redemption Dates Redemption Price Any Interest Payment Date thereafter 100 through The Authority Trustee on behalf and at the expense of the County shall deliver mail (by first class mail) notice of any redemption to the Trustee a certificate respective owners of an Independent Accountant verifying thatany Bonds designated for redemption, following at their respective addresses appearing on the Registration Books maintained by the Trustee, at least 20 but not more than 60 days prior to the redemption date; provided, however, that neither failure to receive any such mandatory prepayment notice so mailed nor any defect therein shall affect the validity of the Local Obligations and proceedings for the redemption of Bonds, such Bonds or the principal and cessation of the accrual of interest generated from the remaining Local Obligations is adequate to make the timely payment thereon. The redemption price of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption price equal to the principal amount thereof to be redeemed, together with accrued interest to redeemed shall be paid only upon presentation and surrender thereof at the Trust Office of the Trustee. From and after the date fixed for redemptionredemption of any Bonds, interest on such Bonds will cease to accrue. The Bonds are issuable as fully registered Bonds without coupons in denominations of $5,000 or any integral multiple thereof. Subject to the limitations and upon payment of the charges, if any, provided in the Indenture, fully registered Bonds may be exchanged at the Trust Office of the Trustee for a like aggregate principal amount and maturity of fully registered Bonds of other authorized denominations. This Bond is transferable by the Registered Owner hereof, in person or by his attorney duly authorized in writing, at the Trust Office of the Trustee, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Bond. Upon such transfer a new fully registered Bond or Bonds, of authorized denomination or denominations, for the same aggregate principal amount and of the same maturity will be issued to the transferee in exchange herefor. The County and the Trustee may treat the Registered Owner hereof as the absolute owner hereof for all purposes, and the County and the Trustee shall not be affected by any notice to the contrary. The Indenture and the rights and obligations of the County and of the owners of the Bonds and of the Trustee may be modified or amended from time to time and at any time in the manner, to the extent, and upon the terms provided in the Indenture; provided that no such modification or amendment shall (a) extend the maturity of or reduce the interest rate on any Bond or the amount of principal thereof without the express written consent of the owner of such Bond, (b) reduce the percentage of Bonds required for the written consent to any such amendment or modification, or (c) permit the creation of any lien on the Reassessments and other assets pledged under the Indenture, or deprive the Bond Owners of the lien created under the Indenture on the Reassessments and such other assets, without premiumthe consent of the owners of all outstanding Bonds. The Bonds are Limited Obligation Refunding Bonds because, under the Indenture, the County is not obligated to advance funds from the County treasury to cure any deficiency which may occur in the redemption fund for the Bonds; provided, however, the County is not prevented, in its sole discretion, from sinking payments as follows:advancing funds. This Bond shall not be entitled to any benefit under the Indenture or become valid or obligatory for any purpose, until the certificate of authentication hereon shall have been manually signed by the Trustee.

Appears in 1 contract

Samples: Indenture of Trust

Principal Amount. DOLLARS The BELVEDERE PUBLIC FINANCING AUTHORITY, a joint powers authority organized and existing under the laws of the State of California (the “Authority”), for value received, hereby promises to pay (but only out of the Revenues and other funds hereinafter referred to) to THIS IS TO CERTIFY that the Registered Owner identified above above, or registered assigns assigns, as the Registered Owner of this Certificate is the owner of an undivided proportionate interest in the Lease-Purchase Agreement, dated as of 1, 2019 (the “Registered OwnerLease lessor (the “Lessor”), on the Maturity Date identified above (subject to any right and City of prior redemption hereinafter mentioned)Flagstaff, the Principal Amount identified above in lawful money of the United States of America; and to pay interest thereon at the Interest Rate identified above in like money from the Interest Payment Date (Arizona, as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the fifteenth calendar day of the month preceding such Interest Payment Date, in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or prior to January 16, 2016, in which event it shall bear interest from the Dated Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on September 2 and March 2 in each year, commencing March 2, 2017 lessee (the “Interest Payment DatesLessee) until ), together with the Maturity Date stated above or date of redemption of this Bond. The Principal Amount hereof is payable upon presentation right to receive certain “Payments” and surrender hereof at “Prepayments” made pursuant thereto, which Payments and Prepayments and certain other rights and interests pursuant to the Principal Office (as defined in the Indenture) of U.S. Bank National AssociationLease Agreement are held by , as trustee (the “Trustee”). Interest hereon The Registered Owner of this Certificate is payable by check entitled to receive, subject to the terms of the Trustee mailed by first class mail Lease Agreement, on the Principal Payment Date set forth above, the Principal Amount set forth above, evidencing a portion of Payments designated as principal coming due during the preceding 12 months, and to receive on July 1, 2020, and semiannually thereafter on January 1 and July 1 of each year (the “Interest Payment Dates”) until payment in full of said portion of principal, the Registered Owner’s proportionate share of Payments designated as interest coming due during the six months or shorter period immediately preceding each of the Interest Payment Dates; provided that interest with respect hereto shall be payable from the Dated Date indicated above and then from the Interest Payment Date next preceding the date of execution of this Certificate (unless (i) this Certificate is executed on a Interest Payment Date, in which event interest shall be payable from such Interest Payment Date, or (ii) this Certificate is executed after the close of business on the 15th day of the month preceding an Interest Payment Date, whether or not such 15th day is a Business Day (as defined in the hereinafter described Trust Agreement), in which event interest shall be payable from such Interest Payment Date). If, as of the date of execution hereof, interest is in default with respect to any Certificates of the issue of which this is one, interest hereon shall be payable from the Interest Payment Date to which interest has previously been paid or made available for payment, unless this Certificate is executed after a Special Record Date (as defined in the Trust Agreement) and before the following Special Interest Payment Date (as defined in the Trust Agreement), in which event interest shall be payable from the scheduled Interest Payment Date next preceding such date of execution. Said proportionate share of the portion of Payments designated as interest is the result of the multiplication of the aforesaid portion of Payments designated as principal by the rate per annum set forth above. Said amounts evidencing the Registered Owner’s share of Payments designated as interest are payable in lawful money of the United States of America, unless a wire transfer is elected as described below, by check or draft mailed by the Trustee to the Registered Owner hereof at the address close of business on the 15th day of the Registered Owner month preceding an Interest Payment Date (the “Record Date”), whether or not such 15th day is a Business Day, at his address as it appears on the registration books of the Trustee or at such other address as of the 15th calendar day of the month preceding such Interest Payment Date, whether or not such day is a Business Day; provided, however, that payment of interest he may be made by wire transfer to an account in the United States of America to any registered owner of Bonds in the aggregate principal amount of $1,000,000 or more upon written instructions of any such registered owner have filed with the Trustee for that purpose purpose. Payment of portions of overdue Payments designated as interest shall be made on the Special Interest Payment Dates designated by the Trustee to the Registered Owner hereof as of the Special Record Date designated by the Trustee. A Registered Owner of $1,000,000 or more in aggregate principal amount evidenced by Certificates as of the close of business of the Trustee on the 15th calendar day of Record Date for a particular Interest Payment Date or, if applicable, the month preceding Special Record Date for a particular Special Interest Payment Date, may request interest to be paid by wire transfer in immediately available funds sent (at the Registered Owner’s expense) on the Interest Payment Date or Special Interest Payment Date to such Registered Owner in accordance with written request from such Registered Owner containing the wire transfer address (which shall be in the United States) to which such Registered Owner wishes to have such wire transfer directed, received not later than ten days before the Record Date with respect to such Interest Payment Date or, if applicable, the Special Record Date for such Special Interest Payment Date. This Bond is a limited obligation Said amounts evidencing the Registered Owner’s share of Payments designated as principal are payable when due upon surrender of this Certificate at the designated office of the Authority, payable solely from the Revenues and funds pledged under the Indenture (as defined below)Trustee. This Bond is not Certificate has been executed and delivered by the Trustee pursuant to the terms of a debt Trust Agreement, dated as of the City of Belvedere _ 1, 2019 (the “CityTrust Agreement) or the State of California or any of its political subdivisions (except the Authority and only to the extent set forth in the Indenture), between the Trustee and none of the CityLessee, said State or any of its political subdivisions is liable hereon. The Authority has no taxing power. This Bond and is one of a duly authorized issue series of bonds of the Authority designated the “Belvedere Public Financing Authority 2016 Revenue Bonds” certificates limited in aggregate principal amount to $ ,000 (the “Bonds2019 Certificates”), limited in principal amount . The proceeds of sale of the 2019 Certificates will be used to $_____________, secured by an Indenture finance construction of Trust dated as of July 1, 2016 (a municipal court facility for the “Indenture”), by and between Lessee. The Lessee is authorized to enter into the Authority Lease Agreement and the TrusteeTrust Agreement pursuant to the laws of the State of Arizona. Reference is hereby made to the Indenture Lease Agreement and all indentures supplemental thereto the Trust Agreement (copies of which are on file at said office of the Trustee) for the definition of certain capitalized terms used herein, a description of the terms on which the 2019 Certificates are delivered, the rights thereunder of the owners Registered Owners of the Bonds2019 Certificates, of the nature and extent of the Revenues (as that term is defined in the Indenture), of the rights, duties and immunities of the Trustee and of the rights and obligations of the Authority thereunder; and all of Lessee pursuant to the terms of the Indenture are hereby incorporated herein and constitute a contract between the Authority and the Registered Owner hereofLease Agreement, and to all of the provisions of which Indenture Lease Agreement and Trust Agreement the Registered Owner hereofof this Certificate, by acceptance hereof, assents and agrees. The Bonds are authorized to be issued under the Xxxxx-Xxxx Local Bond Pooling Act of 1985, as amended, constituting Article 4 (commencing with Section 6584) of Chapter 5 of Division 7 of Title 1 term of the Government Code Lease Agreement is from the date thereof until the end of the State of California (Lessee’s then current Fiscal Period, and thereafter for such additional Fiscal Periods as are necessary to complete the “Act”). The Bonds are limited obligations anticipated total lease term through and including July 2, 20 , unless terminated prior thereto in accordance with the provisions of the Authority andLease Agreement. If, as and on or before the third Business Day prior to the extent set forth last date on which the Lessee is required or permitted to adopt its budget for a Fiscal Period, the Lessee fails to adopt a budget containing a annual budgetary appropriation sufficient to make all Lease Payments coming due during the Fiscal Period for which such budgeting and appropriation are made, the Lessee will immediately notify the Lessor in writing of that fact. If, on the Indenturelast date on which the Lessee is required or permitted to adopt its budget for a Fiscal Period, are payable solely from no such proper budgeting and secured final appropriation by a first lien on the Mayor and pledge Council of the Revenues Lessee shall have been made all of the Lessee’s right, title and certain interest in and future obligations pursuant to the Lease Agreement shall terminate (subject to reinstatement as provided therein), effective as of the last day of the last Fiscal Period for which such budgetary appropriation was properly obtained, and the Lessee shall be relieved of any subsequent obligation pursuant to this Lease Agreement with respect thereto, other funds held by than to return the Trustee Lessor possession of all of the leased property as provided in the IndentureLease Agreement and to pay any accrued and unpaid obligations. The Revenues If the Lease Agreement terminates pursuant to the preceding sentence and if, within 45 days following such other funds constitute date of termination, amounts described in the preceding sentence are determined to be available that would have permitted the Lease Agreement to have continued in effect with respect to the leased property if such amounts had been determined to be available before the termination of the prior Fiscal Period, then the Lease Agreement shall be reinstated with respect thereto and deemed renewed as of the day following the date of such termination, and no such termination shall be deemed to have occurred. To the extent and in the manner permitted by the terms of the Trust Agreement, the provisions of the Trust Agreement may be amended by the parties thereto with the written consent of the Owners of a trust fund for majority in Aggregate Value of the security 2019 Certificates and may be amended without such Owners’ consent under certain circumstances but in no event such that the interests of the Owners of the 2019 Certificates are adversely affected; provided that no such amendment shall impair the right of any Owner to receive in any case such Owner’s proportionate share of any Lease Payment or Prepayment thereof in accordance with such Owner’s 2019 Certificate. This Certificate is transferable by the Registered Owner hereof, in person or by his attorney duly authorized in writing, at said office of the Trustee, but only in the manner, subject to the limitations and upon payment of the principal of and interest on the Bonds, except to the extent otherwise charges provided in the IndentureTrust Agreement and upon surrender and cancellation of this Certificate. Upon such transfer a new Certificate or Certificates, of authorized denomination or denominations, for the same aggregate principal amount will be delivered to the transferee in exchange herefor. The full faith Lessee, the Lessor and credit of the Authority is Trustee may treat the Registered Owner hereof as the absolute owner hereof for all purposes, whether or not pledged this Certificate shall be overdue, and the Lessee, the Lessor and the Trustee shall not be affected by any notice to the payment of the principal of or interest or redemption premiums (if any) on the Bondscontrary. The Bonds are not secured by a legal or equitable pledge of, or charge, lien or encumbrance upon, any of the property of the Authority or any of its income or receipts, except the Revenues and such other funds as As provided in the Indenture. The Bonds have been issued to provide funds to purchase limited obligation refunding improvement bonds (Trust Agreement, the “Local Obligations”) being simultaneously issued by the City of Belvedere (the “City”), and to pay the costs of issuing the Bonds and the Local Obligations. The City will apply the net proceeds received from the sale of the Local Obligations to the Authority toward the defeasance and refunding of assessment bonds previously issued by the City. The obligation of the City to make payments of principal and interest on the Local Obligations is a limited obligation secured only as set forth therein. The Bonds maturing 2019 Certificates scheduled for payment on or before September 2after July 1, 20__, are not subject to optional call and redemption prior to maturity. The Bonds maturing on and after September 2, 20__20 , are subject to optional call and redemption prior to maturity, as a whole or in part among such maturities as are selected by prepayment at the Authority and by lot within a maturitydirection of the Lessee, on any date on or after September 2July 1, 20__20 , from funds derived in whole or in part in any order designated by the Authority from any sourceLessee or, under certain circumstances, by lot by the Trustee, and by lot within a scheduled payment date, at a redemption prepayment price equal to the principal amount of the Bonds evidenced thereby to be optionally redeemed, together with prepaid plus interest accrued interest thereon to the date fixed for redemptionprepayment, without premium. The Authority shall deliver to As provided in the Trustee a certificate of an Independent Accountant verifying thatTrust Agreement, following such optional prepayment the 2019 Certificates scheduled for payment on July 1 of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such optional redemption. The Bonds are years shall be subject to mandatory call and redemption prepayment prior to maturity, as a whole or in part among such maturities as are selected by the Authority and by lot within a maturity, their stated payment dates on any Interest Payment Date on or after September 2, 20__, from amounts received by the Authority due to the redemption of Local Obligations from the prepayment of Reassessments, at a redemption price (expressed as a percentage July 1 of the principal amount of years set forth below and in the Bonds to be redeemed), as amounts set forth below, together with accrued interest thereon to the date fixed for redemption: Redemption Date Redemption Price September 2, 20__, through March 2, 20__ 103% September 2, 20__, and March 2, 20__ 102 September 2, 20__, and March 2, 20__ 101 September 2, 20__, any Interest Payment Date thereafter 100 The Authority shall deliver to the Trustee a certificate of an Independent Accountant verifying that, following such mandatory prepayment of the Local Obligations and redemption of Bonds, the principal and interest generated from the remaining Local Obligations is adequate to make the timely payment of principal and interest due on the Bonds that will remain Outstanding hereunder following such mandatory redemption. The Bonds maturing on September 2, 20__ (the “20__ Term Bonds”), are subject to mandatory sinking payment redemption in part on September 2, 20__, and on each September 2 thereafter to maturity, by lot, at a redemption prepayment price equal to the principal amount thereof to be redeemed, together with plus interest accrued interest to the date fixed for redemptionprepayment, without premium. Prepayment Date Principal Amount * Prepayment Date Principal Amount * * Stated Payment Date Whenever 2019 Certificates subject to mandatory prepayment are purchased, redeemed (other than because of mandatory prepayment) or are delivered by the Lessee to the Trustee for cancellation, the principal amount of the 2019 Certificates represented thereby so retired shall satisfy and be credited against the mandatory prepayment therefor in any order specified by the Lessee. The 2019 Certificates are subject to prepayment on any Interest Payment Date in whole, or in part in any order designated by the Lessee, or, under certain circumstances, by lot by the Trustee, and by lot within any scheduled payment date, from sinking payments the net proceeds of insurance or condemnation credited towards the prepayment of the Lease Payments by the Lessee pursuant to the Lease Agreement, at a prepayment price equal to the principal amount evidenced thereby to be prepaid plus interest accrued to the date fixed for prepayment, without premium. Notice of prepayment shall be mailed not less than 30 days nor more than 60 days before the date set for prepayment to each Registered Owner of a 2019 Certificate to be so prepaid at the address shown on the books of the Trustee, but failure so to mail any such notice or any defect in such notice as follows:to any 2019 Certificate shall not affect the validity of the proceedings for the prepayment of any other 2019 Certificate. On the specified prepayment date all 2019 Certificates called for prepayment shall cease to bear or accrue interest and shall no longer be secured by the Trust Agreement provided funds for prepayment are on deposit at the place of payment at that time.

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Samples: Trust Agreement