The Series 2024 Bonds. (a) The Series 2024 Bonds shall be dated their date of delivery. The Series 2024 Bonds shall be issued in the principal amounts, shall bear interest at the rates, with the yield to maturity or redemption (as applicable), shall be subject to redemption, and shall mature on the dates and in the years all as set forth in Exhibit A hereto, which is incorporated herein by this reference. The Series 2024 Bonds shall be issued in fully registered form, in the authorized denominations of $5,000 or any integral multiple thereof. The Series 2024 Bonds shall bear interest payable from the date thereof and such interest [on the Series 2024 Bonds maturing on and after [ ] (the “Tax-Exempt Bonds”)] shall be payable on each February 1 and August 1, commencing August 1, 2024. [Interest on the Series 2024 Bonds maturing on [ ], 2024, which will be issued on a federally taxable basis, shall be payable at maturity thereof.] The Series 2024 Bonds shall be in definitive form, shall bear CUSIP numbers, and shall be in fully registered form, registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”).
(b) The Series 2024 Bonds shall be issued and secured pursuant to the provisions of the Resolution of the Board of Trustees of the District (the “Board of Trustees”) adopted on May 9, 2024 (the “Resolution”), this Purchase Agreement and Article 4.5 of Chapter 3, of Part 1 of Division 2 of Title 5 of the California Government Code (the “Act”). The Series 2024 Bonds were authorized under and pursuant to a bond authorization approved by more than 55% of the voters of the District voting at an election held on March 5, 2024 (the “Election”) approving an amount not more than $13,500,000 of general obligation bonds of the District. The Series 2024 Bonds are being issued to provide funding for projects authorized by voters at the Election as further described in the Preliminary Official Statement (defined herein). Capitalized undefined terms used herein shall have the meanings ascribed thereto in the Resolution.
(c) In order to assist the Underwriter with compliance with Rule 15c2-12 of the Securities and Exchange Commission under the Securities and Exchange Act of 1934, as amended (the “Rule”), the District will enter into the Continuing Disclosure Certificate, dated the date of Closing (the “Continuing Disclosure Certificate”).
(d) The Series 2024 Bonds shall be executed and delivered under and in accordance with the provisions of this Pu...
The Series 2024 Bonds. The Series 2024 Bonds shall be as described in, and shall be issued pursuant to, the Indenture of Trust between the Corporation and U.S. Bank Trust Company, National Association, as trustee thereunder (the “Indenture Trustee”) dated as of [Closing Date] relating to the Series 2024 Bonds (the “Indenture”), with only such changes in the Indenture as shall be mutually agreed upon between you and the Underwriters. The Series 2024 Bonds shall be issued in accordance with the provisions of the Indenture and secured as described therein and in the Official Statement. The Series 2024 Bonds are being issued to provide the funds to finance a mortgage loan (the “Mortgage Loan”) to the Borrower for the purpose of refunding certain outstanding bonds of the Corporation (the “Prior Bonds”) in whole. The obligations of the Borrower with respect to the Mortgage Loan will be evidenced by a mortgage note issued in connection therewith (the “Note”) and will be secured by, among other things, a mortgage from the Borrower to the Corporation (the “Mortgage”). In connection with the financing of the Mortgage Loan, the Corporation and the Borrower will enter into an Amended and Restated Loan Agreement, dated as of the date of issuance of the Series 2024 Bonds (the “Loan Agreement”), and the Corporation and the Borrower will enter into an Amended and Restated Regulatory Agreement, dated as of the date of issuance of the Series 2024 Bonds (the “Regulatory Agreement”). In addition, the Corporation and the Borrower are parties to the Amended and Restated Financing Commitment and Agreement dated [November 4, 2024] (the “Financing Commitment and Agreement”). The Loan Agreement, the Regulatory Agreement and the Financing Commitment and Agreement shall be known, collectively, as the “Corporation Documents.” The Series 2024 Bonds will be payable from the Available Distribution Amounts as set forth in the Servicing Agreement, dated as of [Closing Date] (the “Servicing Agreement”), by and among the Corporation, the Indenture Trustee, Park Bridge Lender Services LLC, as operating advisor (the “Operating Advisor”), Xxxxx Fargo Bank, National Association, as master servicer and special servicer (the “Master Servicer” and the “Special Servicer”) and U.S. Bank National Association, as 17g-5 information provider. Such amounts will be derived from loan payments made by the Borrower pursuant to the Loan Agreement and the Note, as and to the extent administered and serviced pursuant to the Servicing ...
The Series 2024 Bonds
