Examples of Authority Second Resolution in a sentence
Mr. Speaker, I yield to the gentleman from California (Mr. LAMALFA).
The Authority shall also deposit from time to time in the Construction Fund any other amounts required to he deposited therein pursuant to the Authority Second Resolution or the Agreement, including amounts received by the Authority for or in connection with the System and determined by the Authority to be deposited therein.
The Authority further represents that the Authority has not heretofore made a pledge of, granted a lien on or security interest in, or made an assignment or sale of the Revenues or any other property pledged by the Authority Second Resolution that is prior to or of equal rank with the pledge made by the Authority Second Resolution and neither the Revenues nor any other property pledged by the Authority Second Resolution have been described in any financing statement.
Moneys pledged to secure bonds issued under the Authority Second Resolution are to be derived from: (i) all available amounts on deposit in the Subordinated Indebtedness Fund established under the Authority First Resolution and (ii) all moneys or securities in any of the funds and accounts established under the Authority Second Resolution, except the Arbitrage Rebate Fund and the Debt Service Reserve Fund.
These revolving loan programs have routinely featured the public sale of bonds by the Corporation to finance the purchase by the Corporation of Authority Second Resolution Bonds.The Corporation has entered into an agreement to provide the Authority with $30 million in funds made available for certain projects through the Clean Water State Revolving Fund.
See “APPENDIX C— GLOSSARY AND SUMMARY OF CERTAIN DOCUMENTS — Summary of the Authority Second Resolution” and “Summary of the Agreement.”Pursuant to the Agreement, the Authority First Resolution and the Authority Second Resolution, the Revenues received by the Board will be applied in the manner set forth in the following chart.
For information about the treatment of Refundable Principal Installments under the Rate Covenant, see “—Refundable Principal Installments” below.Under the Authority First Resolution and the Authority Second Resolution, the Authority is required to submit to the Board by May 1 of each year the Authority Budget for the ensuing Fiscal Year showing the itemized estimated Cash Flow Requirement for such Fiscal Year.
The proceeds of such Bonds may be pledged for the payment of the principal of and interest on such notes and any such pledge shall have a priority over any other pledge of such proceeds created by the Authority Second Resolution.
It is our understanding that the Authority files information (including its official statements) about the Authority, the Water Board, the System and the Authority Second Resolution Bonds with EMMA.
Anticipated Future Authority Second Resolution Bonds8 Fiscal Year 2017 Bonds .