Examples of Outstanding Parity Bond Ordinances in a sentence
The applicable conditions of the Outstanding Parity Bond Ordinances having been or to be complied with in connection with the issuance of the Bonds, the pledge contained herein of Net Revenue and ULID Assessments to pay and secure the payment of the Bonds shall constitute a lien and charge upon such Net Revenue and ULID Assessments equal in rank with the lien and charge upon the Net Revenue and ULID Assessments to pay and secure the payment of the Outstanding Parity Bonds.
No Additional Parity Bonds may be issued should any event of default under this Bond Ordinance or the Outstanding Parity Bond Ordinance(s) have occurred and be continuing.
Furthermore, the City will comply with the parity requirements outlined in the Outstanding Parity Bond Ordinance(s) and will deliver at or prior to delivery of the Bonds a parity certification in substantially the form attached hereto as Exhibit C.
This Governing Authority finds and determines that the parity requirements of the Outstanding Parity Bond Ordinance(s) have been satisfied.
The parity requirements of the Outstanding Parity Bond Ordinances are being complied with in connection with the issuance of the Bonds, and a parity certification in substantially the form attached hereto as Exhibit C will be delivered at the time of delivery of the Bonds.
The Bonds shall be issued as Covered Bonds, and if necessary, this ordinance provides for payments into the Reserve Account of amounts and at the times required by the Outstanding Parity Bond Ordinances.
Pursuant to the Outstanding Parity Bond Ordinances, the City is required to maintain separate sub- accounts in the Combined Utility Bond Reserve Account for each separate issue included in the Outstanding Parity Bonds and the 2019B Bonds (if any).
The Bonds are hereby issued on a parity with the Outstanding Parity Bonds, and the Bonds shall rank equally with and shall enjoy complete parity of lien with the Outstanding Parity Bonds on all of the Net Revenues of the Tax or other funds specially applicable to the payment of the Outstanding Parity Bonds, including funds established by the Outstanding Parity Bond Ordinances.
After all payments and credits required at the time to be made under the provisions of paragraphs (a) and (b) above have been made there shall next be paid and credited on the first day of each month to the Outstanding Parity Bond Debt Service Accounts for the Parity Bonds and the Bonds such amounts, if any, as shall be required to be paid and credited to the such reserve funds pursuant to the Outstanding Parity Bond Ordinances.
This provision shall not be deemed to modify the provisions of the Outstanding Parity Bond Ordinances with respect to the deposit to, and use of moneys in, the Depreciation and Replacement Accounts in accordance with the Outstanding Parity Bond Ordinances.