Ordinance No. 19458 - Laserfiche WebLink

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interest to be payable on the Governmental Obligations is sufficient to pay, as of any date of calculation, the outstanding principal of and interest on the callable portion of the 1985 Refunding Certificates an June 1, 1994. Section lo. 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 1987 Advance Refunding Lease-Purchase Certificates of Participation tCommunity 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 to pay the costs of issuance of the 1957 Refunding Certificates. Section 11. Rebate Fund. The City hereby authorizes the creation of a special, segregated and irrevocable trust fund designated as the City of Eugene, Oregon 1987 Advance Refunding Lease-Purchase Certificates of Participation ~Cammunity 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 rig~.t to call and redee a any or a~.l of the outstanding 1987 ~ - Refunding Certificates maturing after June 1, 199G, in whole or in part, in inverse numerical order of maturity and by lot within a maturity on any interest payment date on or after June 1, 1997 at the redemption prices expressed as a percentage of the principal amount, except in the case of 1987 Refunding Certificates maturing an ar after Jtne 1, 2oa4, in wt+ich event the redemption price is expressed as a percentage of the Compound Accreted ~Ialue of such 1987 Refunding Certificates, as set forth below, together with accrued interest: Dates When Redeems.ble on June 1, 1997 or December 1, 1997 on June 1, 1998 or December 1, 1998 Qn June 1, 1999 and thereafter at Red emotion Pric e 102.0 lol.a~ 100.0$ Notice of redemption ~ shall be given as provided in the Refunding Indenture. ORDINANCE -rPage G.