Common use of State Revenue Bond Financing Costs Clause in Contracts

State Revenue Bond Financing Costs. If the District does not advance all of the capital costs of the South Bay Aqueduct Enlargement and the State issues revenue bonds or other debt instruments to finance all or a portion of such capital costs, the portion of such capital costs not advanced pursuant to Subparagraph (2) shall be recovered through a revenue bond charge each year to the District that shall return to the State an amount equal to the annual financing costs the State incurs in that year (or any prior year to the extent not previously recovered) for that portion of the South Bay Aqueduct Enlargement constructed in whole or in part with funds from revenue bonds. Annual financing costs shall include, but not be limited to, the following items to the extent not provided for from revenue bond proceeds: bond marketing expenses, premiums for bond insurance or other credit enhancement, annual revenue bond principal and interest, and any additional requirements for bond debt service coverage and deposits to reserves. The State shall provide credits to the District for excess reserve funds, excess debt service coverage, interest, and other earnings of the State in connection with repayment of such revenue bond financing costs, when and as permitted by the bond resolution. When such credits are determined by the State to be available, such credits shall be provided to the District. Reserves, bond debt service coverage, interest, and other earnings may be used in the last year to retire the bond.

State Revenue Bond Financing Costs. If the District Agency does not advance all of the allocated capital costs of the South Bay Aqueduct Enlargement East Branch Extension Facilities and the State issues revenue bonds or other debt instruments to finance all or a portion of such capital costs, the portion of such allocated capital costs not advanced pursuant to Subparagraph (2) subparagraph 1 shall be recovered from the Agency through a revenue bond charge each year to the District that shall return to the State an amount equal to the Agency’s allocated portion of the annual financing costs the State incurs in that year (or any prior year to the extent not previously recovered) for that portion of the South Bay Aqueduct Enlargement East Branch Extension Facilities constructed in whole or in part with funds from revenue bonds. Annual financing costs shall include, but not be limited to, the following items to the extent not provided for from revenue bond proceeds: bond marketing expenses, premiums for bond insurance or other credit enhancement, annual revenue bond principal and interest, and any additional requirements for bond debt service coverage and deposits to reserves. The State shall provide credits to the District Agency for excess reserve funds, excess debt service coverage, interest, and other earnings of the State in connection with repayment of such revenue bond financing costs, when and as permitted by the bond resolution. When such credits are determined by the State to be available, such credits shall be provided to the DistrictAgency. Reserves, bond debt service coverage, interest, and other earnings may be used in the last year to retire the bondbonds.