Ordinance No. 19627 - Laserfiche WebLink

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Refunding Lease-Purchase Certificates of Participation €Community Conference Center} Escrow Fund the "1989 Escrow Deposit Fund"}, The City shall cause to be deposited to the Escrow Deposit Fund the Governmental obligations has defined in the 19$9 Escrow Deposit Agreement dated as of August 1, 1989 between the City and the Trustee the "1989 Escrow Deposit Agreement"}} in such amount, term and rate of interest sufficient that the maturing principal and interest to be payable on the Governmental obligatians is sufficient to pay, as of any date of calculation, the outstanding principal of, premium, if any, and interest on the 1985 Refunding Certificates as they mature on and after June 1, 1990 and on the callable portion on June 1, 1994. Section 18. Costs of Issuance Fund. The City hereby authorizes the creation of a special, segregated and irrevocable trust fund designated as the City of Eugene, Oregon 1989 Advance Refunding Lease-Purchase Certificates of Participatian Community Conference Center} Costs of Issuance Fund the "Costs of Issuance Fund"}. Deposits to the Costs of Issuance Fund pursuant to the First Supplemental Indenture shall be disbursed t0 pay the costs of issuance of the 1989 Refunding Certificates . Section 11. Rebate Fund. The City hereby authorizes th e creation of a special, segregated and irrevocable trust fund designated as the City of Eugene, Oregon 1989 Advance Refunding Leas e--Purchas e Certificates of Participation ~ Community Conference Center} Rebate Fund the "Rebate Fund"}. Deposits.to and disbursements from the Rebate Fund shall be as described in the First Supplemental Indenture. Section 12. Investment of Funds. The moneys in the Special Trust Funds shall be invested as prescribed by the Refunding Indenture so long as any such investment is permitted by Oregon Revised Statutes 294.035 relating to the investment of surplus funds of political subdivisions. Earnings of the Special Trust Funds shall be deposited as provided in Article VII of the Refunding Indenture. Section 13. Optional Redemption. The City approves of the right to call and redeem any or all of the outstanding 1989 Refunding Certificates maturing after June 1, 1995, in whole or in part, in inverse order of maturity and by lot within a maturity on any Interest Payment Date on or after June 1, 1995 at the redemption prices expressed as a percentage of the principal amount, except in the case of Compound Appreciation Certificates, in which event expressed as a percentage of the 1989 Compound Accreted Value of such Compound Appreciation Certificates set forth below, together with accrued interest to the redemption date: ORDINANCE - Page 6.