Bonds Not Hedge Bonds. (i) The District represents that none of the Bonds is or will become a “hedge bond” within the meaning of section 149(g) of the Code.
(ii) Without limitation of paragraph (i) above: the District believes (upon appropriate investigation) (A) that on the date of issuance of the Bonds the District reasonably expected that at least 85% of the spendable proceeds of the Bonds will be expended within the three-year period commencing on such date of issuance, and (B) no more than 50% of the proceeds of the Bonds will be invested in Nonpurpose Investments having a substantially guaranteed yield for a period of four years or more.
Bonds Not Hedge Bonds. (1) The Authority represents that the 2004 Bonds are not and will not become “hedge bonds” within the meaning of section 149(g) of the Code.
(2) Without limitation of the foregoing, (A) the Authority reasonably expects and believes (upon appropriate investigation) that the City expects that at least 85% of the spendable proceeds of the 2004 Bonds will be expended within the three-year period commencing on the date of issuance of the 2004 Bonds, and (B) no more than 50% of the proceeds of the 2004 Bonds will be invested in Nonpurpose Investments having substantially guaranteed yield for a period of four years or more.
Bonds Not Hedge Bonds. The Authority represents that none of the Bonds or Prior PFA Bonds is or will become a “hedge bond” within the meaning of section 149(g) of the Code.
Bonds Not Hedge Bonds. (i) At the time the original bonds refunded by the Bonds were issued, the County reasonably expected to spend at least 85% of the spendable proceeds of such bonds within three years after such bonds were issued.
(ii) Not more than 50% of the proceeds of the original bonds refunded by the Bonds were invested in Nonpurpose Investments having a substantially guaranteed Yield for a period of 4 years or more.
Bonds Not Hedge Bonds. At least eighty-five percent (85%) of the Net Proceeds of the Bonds will be expended within three years of the date hereof and no amount of the Net Proceeds or Investment Proceeds is or will be invested in either Nonpurpose Investments or Tax-Exempt Investments, having a guaranteed yield for 4 years or more.
Bonds Not Hedge Bonds. (1) The County represents that neither the Refunded Obligations (as defined herein) nor the Bonds are or will become “hedge bonds” within the meaning of section 149(g) of the Code. Without limitation of paragraph (1) above, (A) with respect to that portion of the sale proceeds of the Bonds that is to be applied to the prepayment of the Refunded Obligations, (I) on each date of issuance of the Refunded Obligations, the County reasonably expected that at least 85% of the spendable proceeds of such Refunded Obligations would be expended within the three-year period commencing on such date of issuance, and (II) no more than 50% of the proceeds of the Refunded Obligations were invested in Nonpurpose Investments having a substantially guaranteed yield for a period of four years or more, and (B) with respect to the balance of the Bonds, (I) on the date of issuance of the Bonds the County reasonably expects that at least 85% of the spendable proceeds of such portion of the Bonds will be expended within the three-year period commencing on the date of issuance, (II) the County covenants that at no time will more than 50% of the proceeds of such portion of the Bonds be invested in Nonpurpose Investments having a substantially guaranteed yield for a period of four years or more.
Bonds Not Hedge Bonds. (i) SANDAG represents that the Bonds neither are nor will become “hedge bonds” within the meaning of section 149(g) of the Code.
(ii) Without limitation of paragraph (I) above, with respect to the Bonds,
(A) on the date of issuance of the Bonds, SANDAG reasonably expects that at least 85% of the spendable proceeds of the Bonds will be expended within the three-year period commencing on such date of issuance, and (B) no more than 50% of the proceeds of the Bonds will be invested in Nonpurpose Investments having a substantially guaranteed yield for a period of four years or more.
Bonds Not Hedge Bonds. On the Date of Issuance, the Concessionaire reasonably expected to expend at least 85 percent of the “spendable proceeds” of the Series 2014 Bonds within three years of the Date of Issuance and not more than 50 percent of the proceeds of the Series 2014 Bonds would be invested in Nonpurpose Investments having substantially guaranteed yields for four years or more.
Bonds Not Hedge Bonds. The Agency reasonably expects that:
(i) The Agency represents that the Bonds will not be “hedge bonds” within the meaning of Section 149(g) of the Code.
(ii) Without limitation of clause (i) above, (A) on the date of issuance of the Bonds, the Agency reasonably expects that at least 85% of the spendable proceeds of that Issue will be expended within the three-year period commencing on such date of issuance, and (B) no more than 50% of the proceeds of the Bonds will be invested in Nonpurpose Investments having a substantially guaranteed yield for a period of four years or more. For purposes of the foregoing, “spendable proceeds” is intended to refer to all proceeds of sale of the Bonds other than those proceeds used to fund the Reserve Fund.
Bonds Not Hedge Bonds. (i) WDDF represents that no Bonds issued hereunder will become “hedge bonds” within the meaning of section 149(g) of the Code.
(ii) Without limitation of paragraph (i) above, on the date of issuance of the Bonds WDDF will reasonably expect that at least 85% of the spendable proceeds of the Bonds will be expended within the three-year period commencing on the date of issuance, and WDDF covenants that at no time will more than 50% of the proceeds of the Bonds be invested in Nonpurpose Investments having a substantially guaranteed Yield for a period of four years or more.
