No Advance Refunding Sample Clauses
No Advance Refunding. No Certificate proceeds will be used more than 90 days following the Issue Date to pay principal of or interest on any other debt obligation.
No Advance Refunding. No proceeds of the Bonds will be used more than 90 days following the Issue Date to pay principal of or interest on any other debt obligation.
No Advance Refunding. (a) The Master Agreement Proceeds allocable to the refunding of the Refunded Agreement shall be applied for such purpose on May 1, 2017.
(b) The Refunded Agreement is subject to redemption on May 1 in each year.
(c) The Refunded Agreement is not a “private activity bond” (as defined in Section 141 of the Code).
(d) The Board will realize present value debt service savings (determined without regard to administrative expenses) as a result of the refunding of the Refunded Agreement.
No Advance Refunding. No proceeds of the Note will be used more than 90 days following the Issue Date to pay principal or interest on any other debt obligation.