Purpose Investment Yield. The Certificate proceeds will not be used to purchase an Investment for the purpose of carrying out the governmental purpose of the financing.
Purpose Investment Yield. The Yield on the Loan will not exceed the Yield on the Bonds by more than 1/8%, as permitted by Regulations § 1.148-2(d)(2)(i). In determining such Loan Yield, “qualified administrative costs” of the Loan paid by the Corporation are taken into account to increase payments for, and reduce receipts from, the Loan, as permitted by Regulations § 1.148-5(e)(3). “Qualified administrative costs” are (a) costs or expenses paid, directly or indirectly, to purchase, carry, sell or retire the Loan, and (b) costs of issuing, carrying or repaying the Bonds, and the underwriting fees; but fees paid to the County are not qualified administrative costs.
Purpose Investment Yield. The Yield on the Lease will not exceed the Yield on the Bonds by more than 1/8%, as permitted by Regulations § 1.148-2(d)(2)(i). In determining such Lease yield, “qualified administrative costs” of the Lease paid by the Institution are taken into account to increase payments for, and reduce receipts from, the Lease, as permitted by Regulations § 1.148-5(e)(3). “Qualified administrative costs” are (1) costs or expenses paid, directly or indirectly, to purchase, carry, sell or retire the Lease, and (2) costs of issuing, carrying or repaying the Bonds, and the underwriting fees; but fees paid to the Issuer are not qualified administrative costs.
Purpose Investment Yield. The proceeds of the Bonds will not be used to purchase an Investment for the purpose of carrying out the governmental purpose of the financing.
