July (pdf) - New York Power Authority

Optional Redemption
The 2011 Bonds will be redeemable prior to maturity at the option of the Authority on or after
_________________ at any time as a whole or in part as determined by the Authority, at a redemption price
equal to the principal amount of the 2011 Bonds to be redeemed, plus accrued interest to the redemption
date.
Sinking Fund Redemption
Certain 2011 Bonds will be subject to mandatory redemption through application of sinking fund
installments prior to maturity in part by lot at 100% of the principal amount thereof plus accrued interest to
the date of redemption, on the date and in the amounts of the sinking fund installments shown on the following
schedule:
In the event that a principal amount of 2011 Bonds of any maturity is deemed to be no longer
Outstanding, except by mandatory redemption pursuant to the preceding paragraph, such principal amount
shall be applied to reduce the remaining sinking fund installments for such 2011 Bonds, and in such order of
maturity, as may be determined by the Authority.
Selection of 2011 Bonds to be Redeemed
In the event that less than all of the 2011 Bonds of a maturity are redeemed, the 2011 Bonds of such
maturity to be redeemed will be selected by the Trustee in such manner as the Trustee shall deem
appropriate and fair. In such event, for so long as a book-entry-only system is in effect with respect to the
2011 Bonds, DTC or its successor, and direct and indirect DTC participants, will determine the particular
ownership interests of 2011 Bonds of such maturity to be redeemed. Any failure of DTC or its successor, or
of a direct or indirect DTC participant, to make such determination will not affect the sufficiency or the
validity of the redemption of 2011 Bonds to be redeemed (see ‘‘PART 1—APPENDIX B—BOOKENTRY-
ONLY SYSTEM PROCEDURES’’).
Notice of Redemption
For so long as a book-entry-only system is in effect with respect to the 2011 Bonds, notice of
redemption of 2011 Bonds to be redeemed is to be mailed, not less than 30 days nor more than 45 days
prior to the redemption date, to DTC or its nominee or its successor. Any failure of DTC or its successor, or
of a direct or indirect DTC participant, to notify a beneficial owner of a 2011 Bond of any redemption will
not affect the sufficiency or the validity of the redemption of the 2011 Bonds to be redeemed (see ‘‘PART
1—APPENDIX B—BOOK-ENTRY-ONLY SYSTEM PROCEDURES’’).
Neither the Authority nor the Trustee can give any assurance that DTC or its successor, or direct or
indirect DTC participants, will distribute such redemption notices to the beneficial owners of the 2011 Bonds,
or that they will do so on a timely basis.
[DESCRIPTION OF CREDIT ENHANCMENT FACILITY, IF ANY]
TAX MATTERS
[To be revised based upon number of series, etc.]
Opinions of Bond Counsel Relating to 2011 Bonds
In the opinion of Hawkins Delafield & Wood LLP, Bond Counsel to the Authority, under existing
1-8