Issuance of Initial Bonds. On the Closing Date, subject to the satisfaction of the conditions to the issuance of the Initial Bonds, the Issuer will sell and deliver the Initial Bonds in the principal amount of $20,000,000 under and pursuant to the Bond Resolution and under and pursuant to the Indenture. The proceeds of sale of the Initial Bonds shall be deposited and applied in accordance with the provisions of the Indenture.
Issuance of Initial Bonds. The Authority has concurrently with the execution and delivery hereof sold and delivered the Initial Bonds under and pursuant to a resolution adopted by the Authority on November 19, 1997, authorizing their issuance under and pursuant to the Indenture. The proceeds of sale of the Initial Bonds shall be applied as provided in Articles IV and V of the Indenture.
Issuance of Initial Bonds. Initial Bonds, consisting of Series A Bonds in the aggregate principal amount of $3,660,000 and Series B Bonds in the aggregate principal amount of $495,000, being Bonds issued under this Indenture, shall forthwith be executed by the Authority and delivered to the Trustee for authentication, together with a statement as to the amount and disposition of the proceeds of the sale of such principal amount of said Bonds, and thereupon the Initial Bonds shall be authenticated by the Trustee and shall be delivered to or upon the written order of an Authorized Authority Representative. Prior to authentication and delivery of the Bonds by the Trustee, the Trustee shall also have received the documents described in Section 5.03 of the Agreement.
Issuance of Initial Bonds. On the Closing Date, subject to the satisfaction of the conditions to the issuance of the Initial Bonds, the Issuer will execute and deliver the Initial Bonds in the Authorized Principal Xxxxxx under and pursuant to the Bond Resolution and under and pursuant to the Indenture. The proceeds of the Initial Bonds shall be deposited and applied in accordance with the provisions of the Indenture.
