201103789 - Laserfiche WebLink

Browse

201103789 2011 Bonds. Any amount of the Payments not required for the payment of principal and interest on the 2011 Bonds or the satisfaction thereof shall be considered satisfied in full upon any payment and/or satisfaction in full of the 2011 Bonds. Section IV. A�reement to Make Pavment of Amounts Necessarv for Redemution of 2005 Bonds. The City hereby agrees to pay $41,468.75 in addition to the Payments described above which amount is necessary, in addition to the proceeds of the 2011 Bonds, to effect the redemption of the 2005 Bonds, in pursuance of Section IV of the First Addendum, and to pay costs of issuance of the 2011 Bonds. The $34,776.25 portion of such additional amount used to redeem the 2005 Bonds shall be remitted directly to the Trustee on or before the date of redemption of the 2005 Bonds and the $6,692.50 portion of such additional amount used to pay costs of issuance of the 2011 Bonds shall be paid as necessary within sixty days of the date of issuance ofthe 2011 Bonds. Section V. Amendments to Lease Purchase A�reement as Amended bv Addendum. The Original Lease Purchase Agreement as amended by the First Addendum and this Second Addendum may be amended only in accordance with the tenns of the Indenture. Section VI. Assi�nment of Pavments; Obligations of Citv UnconditionaL Under the Indenture the Payments ha.ve been assigned on an absolute and unconditional basis in order to effect the payment of principal and interest on the 2011 Bonds. The City hereby agrees that no amendment reducing the amount of the Payments or e�ctending the time of payment thereof shall be made without the consent of the registered owners of each of the 2011 Bonds affected thereby. The Payments may be reduced in the event of any refunding of the 2011 Bonds, provided that no such reduction shall take effect so long as any of the 2011 Bonds remain outstanding under the terins of the Indenture. The City hereby agrees tha.t the Trustee shall have the right to enforce any and all of its obligations with respect to the Payments under the Original Lease Purchase Agreement as amended by the First Addendum and this Second Addendum. Section VII. Pavment for Rebates to the United States. In addition to the additional payrnents provided for in paragraph 2.02 of the Original Lease Purchase Agreement and in Section VIII of the First Addendum, the City agrees that it will make payment, as an additional payment due under the Agreement, of all amounts due to the Rebate Fund in order for the 2011 Bonds to comply with the requirements of Section 148( fl of the Code. Section VIII. Amendment to Terms of Ori�inal Lease Purchase A�reement. The following amendment to the terms of the Original Lease Purchase Agreement are hereby made and agreed to by the City and the Corporation: Amendment of Section 5.03. Section 5.03 of Article V of the Original Lease Purchase Agreement is hereby amended to read as follows: Section 5.03. In accordance with the requirements of Rule 15c2-12 (the "Rule") promulgated by the Securities and Exchange Commission, the City, being the only "obligated person" with respect to the 2011 Bonds, agrees that it will provide the following continuing K�