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HomeMy WebLinkAbout0995 . , . _ ~ : _ _ : _ , , _ . - . : . ~ ; ` . . . . . . - - _ : _ _ . v _ ~ ~ } ~ i - i, - - , - ~ E , : , _ : . - . , . - ~ : , - . _:K ~ _ _ , - , - ~ . _ _ - ~ , ~ , - • . ~ . t _ . . , , _ , ~ , . ~ _ - - - ~ ' s ~ ~ #a Y ' _ _ F + _ - , ~ J s.F ~ . , j _ - _ j - . . i ~ ~ _ ~ ~ _ ~ 4 _ . ' i - - a- s.. - 1.'.: - - - . ~ ~ .1 - .~~f e ~ _ - _ _ ~fr~.~ r - + - c _ _ .y _ ~ .1 _ ~ _ i n ~t : . ~ ' ` s f ~ ~'4"~- r ~ e~~ : ~ - r 'A"\ .4, 1 ! k ~ ~ f _ ~ " _ .,G:~"~.~a~,.~4f 4 ~-~A - c r - F ~ _ a - 'J+~..~i . . . . ~ . , . . . . . .~F". , ~ . . ' ' . . . . . _ , . , . . . ~ , ~ ~ . . . . , . . . . . . . " . " ' ~ . ~~r, . . . . . . . . . . , ~ . ~ . . . . ~ . , . ~ . . . . . . ~ . ~ . . . ~ ~ . ~ '~h), Q~ali~i.ed Tax Exempt~ Obliga~4ion: The ~oa~rd h~retty = , ~ , . ~ des~qna#.es the Note a~$ a? "qu~.~if i;ed tax-exen?pt obl'ig~ition" - pursuant:to ~ection 265(b)t3)(8).of the Code..~ :3 ` ~ Ad jus~menta to Stated Rate. The 3tated ,Rate sha~ll be subject to. ~d~ustment in the fol'lowing mnnner and _ circumstances.. " ~ ~ : - ~ ~ t~, ) Ffxed Rat~ Conversi~n.~ ~ The. Stated Rate durfnq ,t.he ~ : - f ir~t Note Year shall k~e the Floafi.~ng Rate. On the ~irst AnniversarY D~te, the County - shall. ha~ve the option of converting the '`Stated Rate to the .Fixed Rate. which optfon. $hall be exer- l ~cfsed in writfng by Coun~y delivered ta the Lander,not less than fifteen t15) days P=ior , to_ such_ Anniversary Date• If ~ the County- . _ does aot +axerci~e.its_ conv$rsion ~option hereunder, the Stated Ra?te shall continue thrcughout the remaininq' .term of the Note to . . . . . ~ . . ' . . 1 . . . ~ . ' _ . . ~ . . . . - . . . . ~ ' ~ . ~ . . . , ..-_.:.-:,5 be the Floating . R~?te. ~ " = (ii) Loss of Allowable De~nction.,If under:the Code the _ ~ ~ -nondeductible portion of the interest exp~nse iacurred or deemed' to bave been incurred becau~e the Y.~r~c3er holds the Note tthe ` "Related Znterest"}~ is incressed ~bove- twenty gercent~-E20$) because of a Loss af Qualification; then'the intezest rate on the . Note durfng such period shall bs increased sach calen~lar year by _ ~ n percentage amount equa]. to: (A .2C) x.B x C where: : . . . :-k - - . -14-- ~ . , ~ ROFfLUCIE-3a)1A-16(11/16/87) ~ ~ : : _ _ - ` ~ -~o~,c5~'~ P~ ~~7 _ - _ _ } - ~~r ~ _ - _ _ - -