Examples of Bond Proceeds in a sentence
Based on the (1) estimated Final Phase Project Costs, (2) the estimated STAR Bond proceeds, (3) amounts that remain on deposit in the project fund created by the trust indenture for the Series 2020 Bonds and (4) required private debt and equity, the STAR Bond Proceeds are expected to pay for the Final Phase Project Costs, as contemplated under the Act, when supplemented by private debt and equity.
Land Acquisition $ 7,885,094 Infrastructure $ 4,665,000 Hard Construction $ 116,720,198 Architecture & Engineering $ 1,198,433 Subtotal $ 130,018,725 Contingency $ 0 Hard Costs Total $ 130,018,725 Third Party Professional Costs $ 350,000 Soft Costs Total $ 350,000 Of the total costs listed above, $34,432,213 qualify under the Act as “Eligible Project Costs,” meaning that only those costs may be financed using STAR Bond Proceeds.
No third-party, other than the Developer, shall be entitled to use or direct the use of the 2022 Bond Proceeds.
Second, the Developer may utilize 2022 STAR Bond Proceeds to construct the 2022 Public Infrastructure Improvements.
First, the Developer may utilize the 2022 STAR Bond Proceeds to pay a portion of the costs to acquire the real property on which the Final Phase Project will be located, subject to the Secretary’s approval, as set forth on Exhibit E hereto.