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: assigns in the amounts , in the manner, with the effect and on the <br /> dates , as set forth in the form of the Bonds in Section 4 hereof, <br /> and having such other terms and provisions as set forth in the <br /> form of the Bonds in Section 4 hereof, and bearing interest on <br /> the unpaid principal, and not overdue, at the Interest Rate <br /> payable monthly on the last day of each month, commencing January <br /> 31 , 1986, or bearing interest at the Overdue Rate or the Taxable <br /> Rate, as the case may be, all such terms and provisions therein <br /> conclusively approved by the Purchaser ' s acceptance of and <br /> payment for the Bonds. For the first year, the Bonds shall bear <br /> interest at the Interest Rate plus one and one-half percent <br /> (1 . 5�) per annum. From and after any Effective Date of Tax- <br /> ability as defined in Section 6. 6 of the Loan Agreement the Bonds <br /> shall bear interest at the Taxable Rate. Interest thereon shall <br /> be computed based upon a year of 360 days from the date thereof, I <br /> or the last date to which interest has been paid, as the case may <br /> be, until maturity on the principal amount thereof from time to <br /> time remaining unpaid and based upon the actual number of days <br /> elapsed. The Bonds shall bear interest on any overdue principal <br /> and interest at the Overdue Rate until paid to the maximum extent <br /> permitted by law. In addition, interest payable on the Bonds <br /> shall be adjusted to protect the after tax yield of the <br /> Bondholders, in the manner, at the times and with the effect as <br /> set forth in the form of the Bonds in Section 4 of this Bond <br /> Ordinance in respect of changes in the Effective Corporate Tax <br /> Rate and in respect of the cost (a "Tax Preference Item" as <br /> hereinafter defined in the form of the Bonds? of carryir.g the tax <br /> -6- <br />