Common use of Not to Invest at Higher Yield Clause in Contracts

Not to Invest at Higher Yield. Except as would not cause any Tax-Exempt 2022 Bond to become an “arbitrage bond” within the meaning of section 148 of the Code and the Treasury Regulations and rulings thereunder, the Authority and the City shall not at any time prior to the final maturity of the Tax-Exempt 2022 Bonds directly or indirectly invest Gross Proceeds in any Investment, if as a result of such investment the Yield of any Investment or class of Investments acquired with Gross Proceeds, whether then held or previously disposed of, would materially exceed the Yield of such Tax- Exempt 2022 Bond within the meaning of said section 148 and related Treasury Regulations and rulings.

Not to Invest at Higher Yield. Except as would not cause any Tax-Exempt 2022 Bond to become an “arbitrage bond” within the meaning of section 148 of the Code and the Treasury Tax Regulations and rulings thereunder, the Authority and the City shall not at any time prior to the final maturity of the Tax-Exempt 2022 Bonds directly or indirectly invest Gross Proceeds in any Investment, if as a result of such investment the Yield of any Investment or class of Investments acquired with Gross Proceeds, whether then held or previously disposed of, would materially exceed the Yield of such Tax- Tax-Exempt 2022 Bond within the meaning of said section 148 and related Treasury Regulations and rulings148.

Not to Invest at Higher Yield. Except as would not cause any Tax2024-Exempt 2022 A Bond to become an “arbitrage bond” within the meaning of section 148 of the Code and the Treasury Regulations and rulings thereunder, the Authority and the City shall not at any time prior to the final maturity of the Tax2024-Exempt 2022 A Bonds directly or indirectly invest Gross Proceeds in any Investment, if as a result of such investment the Yield of any Investment or class of Investments acquired with Gross Proceeds, whether then held or previously disposed of, would materially exceed the Yield of such Tax- Exempt 2022 2024-A Bond within the meaning of said section 148 and related Treasury Regulations and rulings.