Examples of Grant Receipts in a sentence
Debt Service on the Note and all other amounts due under this Agreement shall not be or constitute a general obligation or indebtedness of the City as a "bond" within the meaning of Article VII, Section 12 of the Constitution of Florida, but shall be payable solely from the Non-Ad Valorem Revenues and the Grant Receipts in accordance with the terms hereof and of the Note.
In addition, the Grant Receipts are hereby pledged to the repayment of the Note.
The City has lawful power and authority to pledge such Non-Ad Valorem Revenues and Grant Receipts and expects that Non- Ad Valorem Revenues of the City together with the Grant Receipts will be sufficient to pay the principal of and interest on the Series 2024 Note when due as provided herein and in the Note.
The City may prepay the Note in whole or in part, at any time, with Grant Receipts without a prepayment premium or penalty upon two (2) Business Days written notice to the Lender.