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Part 2
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Vol. 2- City of Santa Ana Financing Authority (Police Administration and Holding Facility)
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Part 2
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2. In the event of any solicitation of consents from and voting by holders of <br /> the Bonds, the Issuer shall establish a record date for such purposes and give DTC notice <br /> of such record date not less than 15 calendar days in advance of such record date to the <br /> extent possible. <br /> 3. In the event of a redemption or an advance refunding of all or a portion <br /> of the Bonds outstanding, the Trustee shall mail DTC notice of such event at least ten <br /> Business Days prior to the redemption date or, in the case of an advance refunding, the <br /> date the proceeds are to be deposited in escrow. If appropriate, the Trustee shall specify <br /> in such notice the principal amounts and stated maturities of Bonds to be so redeemed <br /> for which the Trustee has received surrendered Bonds (or transfers of Bonds to its <br /> account at DTC). The Trustee shall specify that, on the Redemption Date, such principal <br /> amounts shall be considered to have been redeemed. DTC shall not include such <br /> principal amounts in its calculations of the beneficial interests to be redeemed. <br /> 4. In the event of a redemption of less than all of the Bonds outstanding, the <br /> Trustee shall give the Securities Depository notice thereof at least two Business Days <br /> preceding the Redemption Record Date (as defined herein). DTC hereby agrees to <br /> deliver to the Trustee upon receipt of such notice, at the close of business on such <br /> Redemption Record Date, a position listing (the "Position Listing") of the aggregate <br /> principal amounts of Regular ARS, Regular Fixed AIRS, Newly Fixed AIRS and Regular <br /> IRS as of the close of business on the Redemption Record Date. The Trustee shall send <br /> DTC a notice specifying the aggregate principal amounts to be redeemed of (a) Regular <br /> ARS, (b) Regular Fixed AIRS and Newly Fixed AIRS and (c) Regular IRS, as soon as <br /> possible after such Redemption Record Date. (DTC shall select by lot which of the <br /> Regular ARS covered in (a) are to be called, and shall select by lot which of the Regular <br /> Fixed AIRS and Newly Fixed AIRS covered in (b) are to be called and shall select by <br /> lot which of the Regular IRS covered in (c) are to be called.) Such notices shall be sent <br /> by a secure means (e.g., legible facsimile transmission, promptly confirmed in writing, <br /> registered or certified mail or overnight express delivery) in a manner designed to assure <br /> that such notice is received on the dates and at the times specified above. (The Trustee <br /> or DTC sending such notice shall have a method to verify subsequently the use of such <br /> means and timeliness of the notice.) As used herein and in the Indenture, the term <br /> "Redemption Record Date" means, in effect, the record date selected by the Trustee for <br /> the purpose of a redemption. <br /> 5. In the event DTC receives a Tender Demand from a Broker-Dealer, DTC <br /> shall take the following actions. On the second Business Day following the day of <br /> DTC's receipt of a Tender Demand. DTC shall select, by lot in such manner as it shall <br /> determine from a Position Listing of the aggregate principal amounts of ARS as of the <br /> close of business on the date of such Tender Demand, the ARS to be tendered. DTC <br /> shall give the Direct Participant for the ARS so selected and the Auction Agent a Tender <br /> Notice. Such Tender Notice shall specify the Tender Date set forth in such Tender <br /> Demand, the amount of ARS to be tendered by such owner or owners on the Tender <br /> Date and the Tender Price therefor. Each Tender Notice shall be mailed to such Direct <br /> Participant and the Auction Agent by first class mail postage prepaid no later than the <br /> LA1-69757.2 3 <br />
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