Certified Interest Rate means the rate of interest as certified pursuant to the Resolution which a Series of Variable Rate Bonds would have borne had such Variable Rate Bonds been issued at a fixed interest rate to their stated maturity.
Certified Interest Rate means the interest rate determined by a certificate of the Chief Financial Officer executed on or prior to the date of the delivery of variable rate Bonds as the rate of interest the variable rate Bonds would bear if they were issued at a fixed interest rate based on the Bond Buyer Revenue Bond Index and assuming the same maturity date, terms and provisions (other than interest rate) as the variable rate Bonds, and on the basis of the Board’s credit ratings with respect to the Bonds (other than Bonds for which credit enhancement is provided by a third party). Determination of the Certified Interest Rate as described in the prior sentence shall be conclusive.
Certified Interest Rate means a fixed rate of interest, determined by a qualified municipal adviser or investment bank with expertise in municipal bonds and selected by the Commission, and determined based on the amortization and credit rating of the debt to which such interest rate is being applied.
Examples of Certified Interest Rate in a sentence
In the event that any of the Outstanding Bonds bear interest at a variable rate, such Bonds shall, for purposes of calculating Aggregate Debt Service, be assumed by the Board to bear interest at a fixed rate of interest equal to the greater of the actual rate of interest then borne by such variable rate Bonds or the Certified Interest Rate applicable thereto.
More Definitions of Certified Interest Rate
Certified Interest Rate means a fixed rate of interest, determined by an investment banking or financial advisory firm selected by the Authority, as the rate of interest (i) Bonds having interest payable at a variable interest rate (or Hedge Payments or Hedge Receipts determined pursuant to a variable rate formula) would bear if such Bonds (or Hedge Payments or Hedge Receipts ) had interest payable at a fixed rate of interest, assuming the same maturities, terms and provisions (other than interest rate) as the proposed Bonds (or Hedge Payments or Hedge Receipts) or (ii) Bonds would bear if issued on the date of issuance of Bond Anticipation Obligations or Bonds having a Balloon Maturity as provided under the definition of Annual Debt Service.
Certified Interest Rate means the rate of interest, not greater than the maximum amount permitted by law or the applicable agreement, determined by an investment banking orthe Issuer’s financial advisory firm selected by the Issueradvisor to be: (i) in the case of Variable Rate Debt, as the rate of interest such Variable Rate Debt would bear if, assuming the same maturity date, terms and provisions (other than interest rate, optional redemption and tender rights) as the Variable Rate Debt of such maturity, such Variable Rate Debt were issued at a fixed interest rate and sold at parhigher of (a) the actual rate on the date of calculation, (b) if the indebtedness has been outstanding for at least 12 months, the average rate for the 12-months immediately preceding the calculation date, or (c) if tax exempt, the most recently published Bond Buyer "Revenue Bond Index" or, if the Bond Buyer "Revenue Bond Index" is no longer published, an equivalent successor index selected by the Issuer or the Issuer’s financial advisor, or if taxable, the yield on direct U.S. Treasury Obligations with comparable maturities, and (ii) in the case of Designated Maturity Debt and Commercial Paper Obligations, as the rate such Designated Maturity Debt or Commercial Paper Obligations would bear if, assuming the amortization thereof as provided in the Amortization Certificate, such Designated Maturity Debt or Commercial Paper Obligations were issued at a fixed rate and sold at parif tax-exempt, the most recently published Bond Buyer "Revenue Bond Index" or, if the Bond Buyer "Revenue Bond Index" is no longer published, an equivalent successor index selected by the Issuer or the Issuer’s financial advisor, at the time of pricing, or if taxable, the yield on direct 10-year U.S. Treasury Obligations plus 1.0%, except for the final scheduled maturity wherein the actual rate will be applied whether tax-exempt or taxable.
Certified Interest Rate means, as of any date of determination:
Certified Interest Rate means the rate of interest as certified pursuant to the Resolution which would have been borne by Variable Rate Bonds had such Variable Rate Bonds been issued at a fixed interest rate.
Certified Interest Rate means the interest rate determined by a certificate of the Chief Financial Officer executed on or prior to the date of the delivery of variable rate Bonds as the rate of interest the variable rate Bonds would bear if they were issued at a fixed interest rate based on the Bond Buyer Revenue Bond
Certified Interest Rate means, with respect to Variable Rate Bonds, the interest rate set forth in a Supplemental Ordinance executed on or prior to the date of the first issuance of the Variable Rate Bonds in accordance with the provisions of the next two paragraphs.