Local School Bond definition

Local School Bond means the general obligation school bond of a Locality having the terms and provisions required by the Bond Sale Agreement. "Locality" or "Localities" shall have the meaning accorded to such term by the first paragraph of this Proceeds Agreement.
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Local School Bond means general obligation school bond of a Locality having the terms and provisions required by the Bond Sale Agreement and shall have the same meaning as the term "2011-2 Local School Bond" under the Indenture.
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Examples of Local School Bond in a sentence

  • The Local Issuer's obligations under this Disclosure Agreement shall terminate upon the earlier to occur of the legal defeasance or final retirement of the Local School Bond.

  • With respect to all Nonpurpose Investments acquired during the term of this Letter Agreement with Gross Proceeds of each Local School Bond issue, the Investment Manager shall maintain separate Investment Reports for each Local School Bond issue.

  • Although the Local School Bond of a Locality may qualify for the Small Issuer Exception, custody, investment and disbursement of the proceeds of the VPSA Bonds applied to the purchase of the Locality's Local School Bond shall continue under the Proceeds Agreement, and the Investment Manager shall continue to provide an Investment Report for such Locality.

  • Notwithstanding the fact that all of the Gross Proceeds of the Local School Bond are spent within six (6) months of the date of issue and no other Gross Proceeds of the Local School Bond are anticipated for the remainder of the term of the issue, if Gross Proceeds of the Local School Bond become available after the end of the initial six-month period, the Locality Rebate Requirement shall be computed with respect to such Gross Proceeds in accordance with the procedure described above.

  • Notwithstanding the fact that all of the Gross Proceeds of the Local School Bond are spent within eighteen (18) months of the date of issue and no other Gross Proceeds of the Local School Bond are anticipated for the remainder of the term of the issue, if Gross Proceeds of the Local School Bond become available after the end of the initial eighteen-month period, the Locality Rebate Requirement shall be computed with respect to such Gross Proceeds in accordance with the procedure described above.

  • Notwithstanding the fact that all of the Gross Proceeds of the Local School Bond are spent within twenty-four (24) months of the date of issue and no other Gross Proceeds of the Local School Bond are anticipated for the remainder of the term of the issue, if Gross Proceeds of the Local School Bond become available after the end of the initial twenty-four-month period, the Locality Rebate Requirement shall be computed with respect to such Gross Proceeds in accordance with the procedure described above.

  • Each Locality hereby covenants and represents that neither the Locality nor any related party, as defined in Section 1.150-1(b) of the Treasury Regulations, to such Locality, pursuant to any arrangement, formal or informal, will purchase the VPSA Bonds in an amount related to the amount of the Local School Bond to be acquired from such Locality by VPSA.

  • Each Locality agrees not to charge its general fund or otherwise set aside or earmark funds with which to pay debt service on its Local School Bond (other than as a budget item) prior to the date of payment thereof to VPSA.

  • The Chairman or Vice Chairman and the Clerk or any Deputy Clerk of the Board are authorized and directed to execute and deliver the Local School Bond and to affix the seal of the County thereto.

  • The Chairman of the Board, the County [Administrator/Manager], or either of them (each a "Delegate") and such other officer or officers of the County as either may designate are hereby authorized and directed to enter into an agreement with VPSA providing for the sale of the Local School Bond to VPSA (the "Bond Sale Agreement").

Related to Local School Bond

  • Local school board means a board elected under Title 20A, Chapter 14, Part 2,

  • School Bonds means School Obligations issued as Bonds.

  • special school means a school classified as a special school under the Education Act 1964.

  • Serial Bonds means Bonds (other than Term Bonds) that mature in annual or semi-annual installments.

  • Initial Bond means any Bond issued on the First Issue Date. “Initial Bond Issue” has the meaning set forth in Clause 2.1.