Current Refunding Portion definition

Current Refunding Portion means that portion of a Multipurpose Issue that constitutes a separate governmental purpose and that would be treated as a Current Refunding Issue if it had been issued as a separate issue.
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Current Refunding Portion means the sale proceeds of the Bonds identified in Section 3.6 together with the remaining Gross Proceeds of the Bonds properly allocable to the refunding of the Current Refunded Bonds.
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Examples of Current Refunding Portion in a sentence

  • The following optional rebate spending exceptions can apply to the Advance Refunding Portion and the Current Refunding Portion of the Bonds: Advance Refunding PortionThe Issuer does not expect to spend all sale proceeds of the Advance Refunding Portion until May 1, 2017 and does not expect any spending exception to apply.

  • Proceeds of the Current Refunding Portion of the Bonds will be used to pay principal and interest on the Current Refunded Bonds.

Related to Current Refunding Portion

  • Acquisition Amount means, for an Acquired Receivable for which the Acquisition Amount is to be included in Available Funds for a Payment Date, the excess of (i) the present value of the Principal Balance of the Receivable as of the last day of the Collection Period immediately preceding the related Collection Period (calculated using the Discount Rate on the basis of a 360-day year of twelve 30-day months and assuming each amount is received at the end of the Collection Period in which the amount is scheduled to be received) over (ii) all cash collections and any other cash proceeds received by the Issuer on the related Receivable from (but excluding) the last day of the Collection Period immediately preceding the related Collection Period to the day on which such Receivable becomes an Acquired Receivable.