Examples of Daily Rate Bonds in a sentence
As further discussed in Note H, the Bonds, in the Variable Rate Bond form, are considered Weekly Rate Bonds with the ability to be converted to Daily Rate Bonds, Adjustable Rate Bonds, or Fixed Rate Bonds.
The Bonds herein authorized, unless otherwise indicated, may be issued in the form of Fixed Rate Bonds, Daily Rate Bonds, Weekly Rate Bonds or Term Rate Bonds, all as provided in Section 2.02 hereof, the Award Certificate and in the FORMS OF BONDS set forth Exhibit A hereto.
The interest rate for Daily Rate Bonds, Weekly Rate Bonds or Short-Term Rate Bonds for each Interest Period shall be determined by the Remarketing Agent as the lowest rate of interest which, in the judgment of the Remarketing Agent, would cause the Bonds to have a market value as of the date of determination equal to the principal amount thereof, taking into account Prevailing Market Conditions.
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For Daily Rate Bonds, the interest rate will be that interest rate borne by such Bonds during the preceding Daily Rate Period.