Official Statement Airport Commission City and County of San ...

any, on the Mode Change Date. Such determination is conclusive and binding upon the Commission, the Trustee,
the Auction Agent, the Market Agent and the Owners of such 2010A Bonds to which such rate will be applicable.
Not later than 5:00 p.m., New York City time, on the date of determination of the Auction Rate for the 2010A
Bonds, the Broker-Dealer is required to notify the Trustee, the Commission, the Market Agent and the Auction
Agent of the Auction Rate by telephone, promptly confirmed in writing or by other Electronic Means.
The Commission may revoke its election to effect a change in Mode for any 2010A Bonds to the
Auction Mode by giving written notice of such revocation to the Trustee, the Remarketing Agent, the Auction
Agent, the Market Agent and the Broker-Dealer at any time prior to the setting of the initial Auction Rate by the
initial Broker-Dealer.
Remarketing of 2010A Bonds
The Remarketing Agent shall use its best efforts to offer for sale (a) all applicable 2010A Bonds or
portions thereof as to which notice of optional tender has been given, (b) all applicable 2010A Bonds required to be
purchased upon change from one Mode to another Mode on the Mode Change Date, and (c) all applicable Credit
Provider Bonds.
(a) On each Purchase Date or Mandatory Purchase Date, as the case may be:
(1) unless the Remarketing Agent has notified the Paying Agent otherwise, the
Remarketing Agent shall notify the Paying Agent by Electronic Means not later than
10:45 a.m., New York City time, on each such Purchase Date or Mandatory Purchase
Date, of the amount of tendered 2010A Bonds which were successfully remarketed and
the proceeds of which have been received by the Remarketing Agent, the names of the
tendering Owners and the registration instructions (i.e., the names, addresses and
taxpayer identification numbers of the purchasers and the desired Authorized
Denominations) with respect thereto; and
(2) the Paying Agent shall authenticate new 2010A Bonds for the respective
purchasers thereof which shall be available for pick up by the Remarketing Agent not
later than 1:30 p.m., New York City time.
(b) On each Purchase Date or Mandatory Purchase Date, as the case may be, the Paying
Agent shall direct the Trustee to Draw on the Credit Facility, as the case may be, for the related Series of 2010A
Bonds, by 12:15 p.m., New York City time, in an amount equal to the Purchase Price of all such 2010A Bonds
tendered or deemed tendered less the aggregate amount of remarketing proceeds received from the remarketing of
such 2010A Bonds.
By the close of business on the Purchase Date or the Mandatory Purchase Date, as the case may
be, the Paying Agent shall purchase tendered 2010A Bonds from the tendering Owners at the Purchase Price by wire
transfer in immediately available funds. Funds for the payment of such Purchase Price shall be derived solely from
the following sources in the order of priority indicated and neither the Paying Agent nor the Remarketing Agent
shall be obligated to provide funds from any other source:
(c) immediately available funds on deposit in the Remarketing Proceeds Account established
for such Series of 2010A Bonds; and
(d) immediately available funds on deposit in the Credit Facility Purchase Account
established for such Series of 2010A Bonds.
On each Purchase Date or Mandatory Purchase Date, as the case may be, such 2010A Bonds shall
be delivered as follows:
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