Summary
The 2003 Bond Issuance Documents provide a comprehensive framework for the issuance and administration of PICA bonds under the Amended and Restated Indenture of Trust, originally dated December 1, 1994. The document defines the Debt Service Fund, Revenue Fund, and Capital Projects Fund, detailing how bond proceeds and payments are managed. It establishes the Pledged Revenues from the PICA Tax, ensuring bond repayments while prohibiting additional encumbrances without legal approval. Redemption and repayment terms are outlined, including sinking fund provisions and conditions for optional and mandatory redemption. Trustee responsibilities are detailed, granting Meridian Bank the authority to manage bondholder rights, oversee fund compliance, and enforce covenants in the event of default. The document also ensures compliance with IRS tax-exempt bond regulations, setting up a Rebate Fund to meet rebate obligations under Section 148 of the Internal Revenue Code.