Federal Subsidy Payments definition
Federal Subsidy Payments means the direct payments made by the United States Department of the Treasury to the Issuer with respect to any Federal Subsidy Bonds pursuant to Sections 54AA(g), 6431 and 1400U-2 of the Code, or any other applicable provision of the Code.
Federal Subsidy Payments means the semi-annual payments from the United States Treasury to the Town related to the Town’s designation of the Series 2015A Bonds as “Qualified Energy Conservation Bonds” and the direct payments pursuant to Section 54D and Section 6431 of the Tax Code. Federal Subsidy Payments are equal to the lesser of (i) the interest payable on the Series 2015A Bonds or (ii) 70% of the amount of the applicable tax credit rate determined on the date of sale of the Series 2015A Bonds under Section 54A(b)(3) of the Code; provided that the Town makes certain required filings in accordance with applicable federal rules pertaining to the Federal Subsidy Payments.
Federal Subsidy Payments means amounts payable by the Federal government to