81006050 - Laserfiche WebLink

Browse

2,A4 8 ~~ I'Y :. ~o~ v ~~L3'~V deposited with the Paying Agents, for the purpose of paying the principal of or interest on any of the Bonds hereby secured, either at the maturity thereof or by purchase or call for .rdemption shall be held in trust for the respective holders of such Bonds. Any moneys which shall be so set aside or deposited by the Trustee and which shall remain unclaimed by the holders of such Bonds for a period of six (6) years after the date on which such Bonds shall have become payable shall, upon request in writing by the Governing Body, be paid to the Issuer or to such officer, board or body as may then be entitled by law to receive the same, and thereafter the holders of such Bands shall look only to the Issuer or t~ such officer, beard or body, as the case may be, for payment and then only to the extent of the amounts so received, with no interest to accrue thereo:, and the Trustee and the Paying Agents shall thereafter havE no responsibility with respect to such moneys. Section 509. Cancellation and Destruction of Bonds U on Payment. All Bonds, a principa an interest of w is has been paid, redeemed or purchased, either at or before maturity, shall be delivered t~~ the Trustee when such payment, redemption or purchase is made, and such Bonds shalt thereupon be cancelled. All Bonds cancelled under any of the provisions of this Indenture shall be cremated, shredded or otherwise destroyed by the Trustee. The Trustee effecting such cremation, shredding or destruction shall execute a certificate in duplicate describing the Bonds so cremated, shredded or otherwise destroyed, and one executed certificate shall be filed with the Treasurer of the Issuer and the other executed certificate shall be filed with the Bond Registrar. Section 510. A lication of Excess Mone s in Bond Fund. When all the Bonds s a 1 be paid in u inclu ing a 1 interest accrued and to accrue to the date of payment of the Bonds and the redemption premium, if any, or funds suffi- cient for such payment in full are held in the Bond Fund, any excess money in the Bond Fund shall be first applied or made available by the Trustee to pay in full all other obligations incurred or to be incurred by the Issuer in connection with the Project and under this Indenture ar the Lease and any remainder shall then be paid to the Company if the Company is not then in default under the Lease or, otherwise, to the Issuer. 46 J