Governmental bonds definition

Governmental bonds means bonds other than private activity bonds.
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Governmental bonds. Purchaser shall have delivered to Seller either: (i) copies of any bonds covering the Assets required under any laws, rules or regulations of any federal, state or local governmental agency having jurisdiction over the Assets issued by corporate sureties satisfactory to Seller; or (ii) a commitment by a surety company, satisfactory to Seller, to issue such bonds upon Closing, and (iii) copies of all other necessary or appropriate consents, permits, insurance, approvals, authorizations and similar items required of Purchaser to purchase, receive, own, and operate the Assets as of the Closing and to otherwise transact business in the applicable jurisdiction(s).
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Governmental bonds means bonds issued as part of an issue the interest on which is excluded from gross income for federal income tax purposes under Code §103(a) and which are not Qualified Private Activity Bonds or Qualified 501(c)(3) Bonds.
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Examples of Governmental bonds in a sentence

  • Governmental bonds are bonds the proceeds of which are primarily used to finance governmental functions or which are repaid with governmental funds.

  • Governmental bonds are bonds which are primarily used to finance governmental functions or are repaid with governmental funds.

  • Governmental bonds are subject to less restrictive arbitrage rules than most private activity bonds.

  • The restrictions on the use of tax-exempt obligations to finance various activities depend on whether such obligations are “governmental bonds” or “private activity bonds.” Governmental bonds are obligations of a state, or political subdivision thereof, which are used for governmental purposes or which are secured by the credit of the governmental issuer.

  • Governmental bonds are bonds the proceeds of which areprimarily used to finance governmental functions or which are repaid with governmental funds.Private activity bonds are bonds in which the State or local government serves as a conduitproviding financing to nongovernmental persons (e.g., private businesses or individuals).

  • Governmental bonds, notes, and certificates of indebtedness tax exempt.

  • Governmental bonds are bonds which are primarily used to finance governmental functions or that are repaid with governmental funds.

  • Governmental bonds issued after 1985 may not be advance refunded with tax-exempt bonds more than once.

  • June 29, 1981.445.256 Wilful violation of act or engaging in recurring course of wilful conduct in violation of act; penalties.Sec.

  • Governmental bonds and qualified 501(c)(3) bonds may be advance refunded one time.


More Definitions of Governmental bonds

Governmental bonds. Upon written request by Seller, Purchaser shall deliver or cause to be delivered to Seller proof of bonds, in form and substance and issued by corporate sureties satisfactory to Seller, covering the Interests required under any laws, rules or regulations of any federal, state or local government agencies having jurisdiction over the Interests, or a commitment by a surety company, satisfactory to Seller, to issue such bonds upon Closing, or such other security or form of guarantee of such obligations that may be satisfactory to the appropriate agency.
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Governmental bonds means the 2011 Series B Bonds.
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Governmental bonds or “government bonds” means that the referenced obligation would qualify as tax-exempt non-private activity bonds under Sections 103 and 141 et seq. of the Code.
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Governmental bonds means (1) direct obligations of (including obligations issued or held in book entry form on the books of), or obligations the timely payment of the principal of and interest on which are fully and unconditionally guaranteed by, the United States of America, (2) obligations authorized under Texas law at the time of deposit for discharge and final payment of governmental obligations which, at the time of deposit, have been assigned ratings in the highest ratings category by a nationally recognized investment rating firm not less than AAA or its equivalent, but in the case of each of Clauses (1) and (2), only if such obligations may not be called for redemption prior to maturity.
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Governmental bonds shall have the meaning given such term in Section 5.6.
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Related to Governmental bonds

  • Governmental Body means any: (a) nation, state, commonwealth, province, territory, county, municipality, district or other jurisdiction of any nature; (b) federal, state, local, municipal, foreign or other government; or (c) governmental or quasi-governmental authority of any nature (including any governmental division, department, agency, commission, instrumentality, official, organization, unit, body or Entity and any court or other tribunal).

  • Governmental Entity means any national, federal, state, municipal, local, territorial, foreign or other government or any department, commission, board, bureau, agency, regulatory authority or instrumentality thereof, or any court, judicial, administrative or arbitral body or public or private tribunal.

  • Governmental Agency(ies) means, individually or collectively, any federal, state, county or local governmental department, commission, board, regulatory authority or agency (including, without limitation, each applicable Regulatory Agency) with jurisdiction over the Company or a Subsidiary.

  • Relevant Governmental Body means the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or a committee officially endorsed or convened by the Board of Governors of the Federal Reserve System or the Federal Reserve Bank of New York, or any successor thereto.

  • Governmental Agency means an executive, legislative, or judicial agency, department, board, commission, authority, institution, or instrumentality of the federal government or of a state or of a county, municipality, or other political subdivision of a state.

  • Governmental Order means any order, writ, judgment, injunction, decree, stipulation, determination or award entered by or with any Governmental Authority.

  • Governmental Authority means the government of the United States or any other nation, or of any political subdivision thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining to government (including any supra-national bodies such as the European Union or the European Central Bank).