Examples of Electric System in a sentence
The City is required to obtain an opinion of Bond Counsel that the substitution of the new facilities for all or a portion of the Electric System Assets shall not cause the interest on the 2024-A Bonds to be included in the gross income of the recipients thereof for federal income tax purposes.
High voltage electricity at the transmission level is fed to these substations, where transformers reduce the voltage for ultimate use by Electric System customers.
Notwithstanding any other provision of this Installment Purchase Agreement, in no event shall the remedy of acceleration be available to the Authority, the Trustee or any other person, and the Trustee is not empowered to sell the Electric System or any portion thereof and use the proceeds of such sale to make 2024-A Purchase Payments.
CITY OF ANAHEIM By Public Utilities Assistant General Manager - Finance and Energy Resources ANAHEIM HOUSING AND PUBLIC IMPROVEMENTS AUTHORITY By Authorized Signatory [City of Anaheim Electric Utility Distribution System Series 2024-A] Exhibit A DESCRIPTION OF THE ELECTRIC SYSTEM ASSETS [To be updated base on refunded bonds selected.] At the Delivery Date, the Electric System Assets consist of the following: • Ten Distribution System substations located throughout the City.
The City covenants that the Electric System shall not be sold, leased or disposed of as a whole or substantially as a whole if such sale, lease or disposal would impair the ability of the City to comply with its covenant set forth in Section 6.03 hereof.