Series 2018 Bonds, if interest is capitalized, and to pay the costs of issuance and sale of the Series 2018 Bonds. Section 4. Description of Series 2018 Bonds. The Series 2018 Bonds shall be called the Central Washington University System Revenue Bonds, Series 2018; shall be issued in the aggregate principal amount of not to exceed $45,000,000; shall be dated the Issue Date; shall be issued in Authorized Denominations; and shall be numbered separately in the manner and with any additional designation as the Registrar deems necessary for purposes of identification. The Series 2018 Bonds shall mature or become due in mandatory sinking fund installments on May 1 in each year not later than 2049, with the first year to be determined based on the date of sale and fixed in the Bond Sale Resolution. The Treasurer is hereby authorized and directed to determine the principal amount of the Series 2018 Bonds that will mature or become due in mandatory sinking fund installments in each year. The principal amounts of Series 2018 Bonds either shall mature serially in such years, or, if specified by the successful bidder in accordance with Section 13 of this Series Resolution, shall be aggregated as Term Bonds in the manner specified by the successful bidder and shall be subject to mandatory sinking fund redemption on the dates set forth in the Bond Sale Resolution. The Series 2018 Bonds shall bear interest (computed on the basis of a 360-day year of twelve 30-day months) from their date or from the most recent interest payment date to which interest has been paid or duly provided for, whichever is later, payable semiannually on May 1 and November 1 of each year to the maturity or earlier redemption thereof, at such rate or rates and commencing on such date as the Board hereafter shall establish in the Bond Sale Resolution. Only one interest rate may be specified for the Series 2018 Bonds of the same maturity.
52919530.2
7
Made with FlippingBook - Online catalogs