Examples of Additional Junior Lien Bonds in a sentence
While the Bonds or any Additional Junior Lien Bonds are outstanding and unpaid it will cause the System to be continuously and efficiently operated and maintained in good condition, repair, and working order, and at a reasonable cost.
In addition, at any time that the United States is the holder of all of the Bonds outstanding, Additional First Lien Bonds and Additional Junior Lien Bonds may be issued if the United States consents or agrees to the issuance.
Such Additional Junior Lien Bonds, if and when authorized, issued, and delivered in accordance with this Ordinance, shall be secured by and made payable equally and ratably on a parity with the Bonds, and all other outstanding Additional Junior Lien Bonds.
From time to time as Additional First Lien Bonds and Additional Junior Lien Bonds are issues a Construction Fund shall be established for those issues.
Such investments shall be sold promptly when necessary to prevent any default in connection with the Bonds or Additional Junior Lien Bonds.
That after the close of each year while any of the Bonds or Additional Junior Lien Bonds are outstanding, an audit will be made of the books and accounts relating to the System and the Pledged Revenues by an independent certified public accountant or an independent firm of certified public accountants.
In addition, Additional Junior Lien Bonds of equal standing and priority with any outstanding Junior Lien Bonds may be issued to refund all or a portion of outstanding Bonds if the refunding would provide a net present value debt service savings to the City.
Additional First Lien Bonds and/or Additional Junior Lien Bonds of equal or superior standing with the Series 2015 Bonds may be issued in such amounts as have been provided in Letters of Condition with the United States Department of Agriculture dated August 4, 2020, as those letters may be amended, in order to finance improvements to the system as provided therein.