Examples of Borrower Bonds in a sentence
The exclusions from the limit include, without limitation, increases required to be raised for debt service as defined by law (which includes the Borrower Bonds), extraordinary costs directly related to a declared emergency, and certain increases in pension contributions and health care costs over 2%.
These amendments to the CAP Law do not limit the obligation of a Local Unit Borrower to levy ad valorem taxes upon all taxable real property within the Local Unit Borrower to pay debt service on its bonds or notes (which includes its Borrower Bonds).
We understand that these Loan Agreements and Borrower Bonds will be placed in escrow on the date hereof and will be released from escrow in completed form and delivered to the Trust and the State, respectively, on the date of closing on the Trust’s bond issue for the Program, which is estimated to occur on or about May 21, 2015 (the “Loan Closing”).
The Government Borrower Guaranties require that the Government Borrower Guarantors pay debt service on the respective Refunding Program Borrower Bonds of the respective Refunding Program Borrowers.
The Refunding Program Borrower Service Agreements require that Refunding Program Participants pay certain deficiencies or other amounts (the “Refunding Program Annual Charges”), including the Refunding Program Participants’ share of debt service on the respective Refunding Program Borrower Bonds of the respective Special Obligation Refunding Program Borrower.