Bond Reserve Fund definition

Bond Reserve Fund means the special fund that may be established by the board pursuant to this article, which must be in the custody of the State Treasurer or a corporate trust department of a financial institution selected by the State Treasurer and which is established primarily for the purpose of providing a reserve with which to meet the payment of the principal of and interest on bonds if payments otherwise required from the debt service fund are insufficient to meet the payment of the principal and interest as and when they are due and payable.

Bond Reserve Fund means each special fund to be established which shall be in the custody of the State Treasurer and which is primarily established for the purpose of providing a reserve with which to meet the payment of the principal of and interest on bonds issued for any college in the event that payments otherwise required for the debt service fund shall be insufficient to meet the payment of such principal and interest as and when they become due and payable. Moneys in the bond reserve fund may also be used to pay costs of plant improvements for such college in accordance with the provisions of Section 59‑53‑164 of this article.

Bond Reserve Fund means the fund by that name established pursuant to Section 5.05 of the Indenture.

Examples of Bond Reserve Fund in a sentence

• The Authority covenants and agrees that any Authority Bonds – Event Day shall be issued pursuant to the following parameters: (i) the net proceeds generated from the sale of the Authority Bonds – Event Day to pay Project Costs shall not exceed $80,000,000, (ii) the maximum annual debt service on the Authority Bonds - Event Day shall not exceed $ , and (iii) at the State’s option, a Bond Reserve Fund shall be funded with the proceeds of such Authority Bonds – Event Day.

• The Authority shall thereafter make such debt service payment from the following sources: first, from any moneys then on deposit in the Bond Reserve Fund established for the Authority Bonds – Event Day; second, from any moneys then on deposit in the Event Day Supplemental Reserve; and third, from any State Supplemental Rental Payments then on deposit with the Authority or the Trustee for the Authority Bonds – Event Day.

• After such reinstatement, the Fiscal Agent shall use amounts deposited in the Bond Reserve Fund by the City for the replenishment of the portion of Bond Reserve Fund held in cash or Investment Securities.

• The City Manager and the Director of Finance, or either of those officials, are authorized to request and obtain any required consents to deposit a Credit Support Instrument into the Bond Reserve Fund, and to pay from the proceeds of the Series 2014 Bonds any fees and expenses related thereto.

• As of the date of delivery of the Series 2014 Bonds and in exchange for the payment of a premium by the City to the Insurer, the Insurer has delivered the Surety Bond to the Trustee for deposit into the Bond Reserve Fund in satisfaction of the Bond Reserve Requirement for the Bonds.

More Definitions of Bond Reserve Fund

Bond Reserve Fund means the fund so designated that is herein established and created by the Authority pursuant to the terms of Section 501 hereof.

Bond Reserve Fund means the Bond Reserve Fund established under the Indenture. “City’s FES Account” means the account designated as the “COPs Improvement Account

Bond Reserve Fund means the Core City Program Bond Reserve Fund held by the Trustee under the Trust Indenture.

Bond Reserve Fund means the fund by that name established by the General Bond Resolution and applied as provided in the Trust Agreement.

Bond Reserve Fund means that fund established pursuant to Section 6.1 and administered in Section 6.7 herein.

Bond Reserve Fund means the Bond Reserve Fund created in the Indenture.

Bond Reserve Fund means the Bond Reserve Fund established pursuant to Section 5.1.