Examples of Future Bonds in a sentence
Notwithstanding the foregoing, the Borrower may at its discretion pledge amounts attributable to any increase of the Sales Tax rate above the then applicable Sales Tax Rate and any increase in the Rental Car Tax above the then applicable Rental Car Tax Rate to any other obligations or to other Borrower purposes; provided that any such obligations shall be issued in accordance with Section 16(b) (Issuance of Future Bonds).
Future Bonds: The SFMTA will monitor and engage in discussions now underway with transportation coalition interests to consider options to increase overall funding for transportation, including a possible successor to Proposition 1B and a proposal to raise the statewide Vehicle License Fee back to long-standing levels of 2% that would be placed before voters in 2014.
Once the principal amount of all Future Bonds plus all payments paid to the Developer under this Reimbursement Agreement equal the Unpaid Balance, this Reimbursement Agreement shall terminate.
More than ever, it is fundamental to boost MDBs’ funding and enable them to fulfill their transformative potential.Sustainable Future Bonds otfer a timely, viable and safe alternative for investing in a sustainable future.
The unpaid Reimbursement Amount shall bear simple interest per annum at the rate of 0% through August 31, 2022 and at the rate of 4.59% commencing on September 1, 2022; provided that, in the event Future Bonds are issued, the per annum interest rate on the Reimbursement Amount shall not exceed, and shall be limited to, the per annum interest rate on such Future Bonds.
The amount of the Reimbursement Amount that has not been paid, plus the interest accrued as described in Section 2(a)(iv) above, are collectively, the “Unpaid Balance.” The Unpaid Balance is secured by and payable solely from the Phases 5, 6 and 7 Assessment Revenue received and collected by the City and deposited into the Phases 5, 6 and 7 Assessment Fund or from the net proceeds of the Future Bonds.
As a condition precedent to the issuance and delivery of Future Bonds under this subsection (c), the Port shall deliver a certificate of a Consultant projecting that CFC Revenue will be at least equal 100% of Annual Debt Service for each year during the remaining term of the Outstanding Bonds (excluding the Note) and the Future Bonds to be issued.
Future Bonds may be issued for the purpose of refunding (including by purchase) at any time within one year prior to maturity, any previously issued Future Bonds for the payment of which sufficient Pledged Revenue are not available without any requirement for compliance with the conditions of subsections 15(a)(5) and (6) and subsection 15(c).
If Future Bonds are issued, the net proceeds of such Future Bonds shall be used, from time to time, first to pay the Unpaid Balance due to the Developer under this Reimbursement Agreement for the costs of Phases 5, 6 and 7 Improvements that have already been paid and then to pay all or any portion of any Phases 5, 6 and 7 Improvements Cost.
Both Central Banks use US Treasury bills to pay for the Sustainable Future Bonds, which then will compose WB assets as cash holdings.