Proper Charge definition
Proper Charge means (i) issuance costs for the Bonds, including, without limitation, certain attorneys' fees, printing costs, initial trustee's fees and similar expenses; or (ii) an expenditure for the Project incurred for the purposes of redeeming the Refunded Bonds which were issued for the purposes of acquiring and constructing the 1985 Project;
Proper Charge means: (i) Issuance Expense, which shall at no time exceed two per centum (2%) of the proceeds of the Bonds; and (ii) amounts necessary to pay accrued interest to the date of payment, or an expenditure for the Project paid and incurred after the date which is sixty days prior to March 8, 2011, the date the Authority adopted its official intent to reimburse, which are used for the acquisition, construction, reconstruction of a public school facility;
Proper Charge means (i) those costs which (a) are incurred after the date which is sixty (60) days prior to June 14, 2005, the date on which an inducement resolution was adopted by the Authority for the acquisition, construction or improvement of either land or property subject to the allowance for depreciation provided by Section 167 of the Code within the meaning of Treas. Reg. 1.103-10(b)(1)(ii) (provided that the acquisition of land shall at no time exceed 25% of the Net Proceeds of the Tax-exempt Bonds) and (b) may, by a proper election under the Code (or may, but for a proper election under the Code to deduct such item), be capitalized for federal income tax purposes on the books of the Company, (ii) costs of issuance of the Tax-exempt Bonds, attorneys' fees, printing costs, Authority's fees, agents' fees and other similar expenses (subject to the limitations hereinafter set forth) or (iii) any expenditure which when added to all previous expenditures from the Project Fund, will not result in more than five percent (5%) of the aggregate amount of the moneys theretofore disbursed from the Project Fund (after deducting from that amount the costs referred to in (ii) above) being expended for purposes other than those permitted by (i) above, provided that any expenditure of Tax-exempt Bond Proceeds that, when added to all previous expenditures of Tax-exempt Bond Proceeds for the payment of costs in (ii) above, would cause the total amount of such costs to exceed 2% of the Tax-exempt Bond Proceeds, shall not be considered a Proper Charge for purposes of this definition;
Examples of Proper Charge in a sentence
The Borrower has not incurred any expense prior to July 11, 1995 for which it shall seek reimbursement from the Acquisition Fund, other than a Proper Charge.
The Borrower has not incurred any expense prior to January 13, 2000 for which it shall seek reimbursement from the Proceeds Account of the Escrow Fund, other than a Proper Charge.
The Company has not incurred any expense prior to such Closing Date, for which it shall seek reimbursement from the Project Fund, other than a Proper Charge.
The Company has not paid any expense prior to such date for which it shall seek reimbursement from the Project Fund, other than a Proper Charge.
More Definitions of Proper Charge
Proper Charge means: (i) issuance costs of the Bonds, including, without limitation, underwriter's discount, certain attorneys' fees, printing costs, initial trustee's fees and similar expenses, which shall at no time exceed two per centum (2%) of the face amount of the Bonds; or (ii) an expenditure for the Project, paid and incurred no earlier than sixty (60) days prior to July 12, 2005 as to the Project used for the acquisition or improvement of a "facility for the local furnishing of gas" within the meaning of Section 142(a)(8) of the Code, including amounts which are chargeable to the Borrower's capital account or would be so chargeable either with a proper election by the Borrower or but for a proper election by the Borrower to deduct such amount (including without limitation interest incurred prior to establishment of the Completion Date); or (iii) expenditures for the Project which, after taking into account all expenditures under (i) above, will not result in less than ninety-five per centum (95%) of the Net Proceeds of the Bonds being expended for expenditures other than those referred to in (ii) above.
Proper Charge means: (i) costs of issuance of the Series 2019 Bonds, attorneys' fees, printing costs, Trustee's fees, dissemination agent’s fees and similar expenses paid in connection with the Project Facilities, not exceeding 2% of the aggregate face amount of the Bonds; and (ii) with respect to the proceeds of the Series 2019 Bonds an expenditure for the acquisition, construction and expansion of the Project Facilities paid and incurred within the period commencing not earlier than 60 days prior to February 19, 2019 (unless an expenditure is a “preliminary expenditure” as defined in Treasury Regulations Section 1.150-2), including for the acquisition or improvement of land or the acquisition, construction, reconstruction or improvement of property of a character subject to the allowance for depreciation under the Code;
Proper Charge means such items as are included within any proper definition of cost which are capitalized or capitalizable, under GAAP.
Proper Charge means (i) issuance costs of the Bond, including legal fees, printing costs and similar expenses, to the extent such costs do not exceed two per centum (2%) of the proceeds of the Bond; (ii) an expenditure for the Project paid and incurred after January 13, 2000 and used for the acquisition or improvement of land or the acquisition, construction, reconstruction or improvement of property of a character subject to the allowance for depreciation; or (iii) expenditures for the Project which, after taking into account all expenditures under (i) above, will not result in more than five per centum (5%) of the Net Proceeds being expended for expenditures other than those referred to in (ii) above;
Proper Charge means: (i) issuance costs of the Bonds, including, without limitation, certain attorneys’ fees, printing costs, initial agent’s fees and similar expenses, which shall at no time exceed two per centum (2%) of the face amount of the Bonds; (ii) an expenditure for the Project, paid and incurred after the date which is sixty days prior to August 14, 2007, used for (A) the acquisition or improvement of land or the acquisition, construction, reconstruction or improvement of land or property of a character subject to the allowance for depreciation or (B) to redeem part or all of a prior loan which was issued for purposes described in subparagraph (A) or this subparagraph; or (iii) expenditures for the Project which, after taking into account all expenditures under (i) above, will not result in more than five per centum (5%) of the Net Proceeds being expended for expenditures other than those referred to in (ii) above;
Proper Charge means (i) issuance costs of the Bonds, including, legal fees, printing costs, and similar expenses, which shall at no time exceed two per centum (2%) of the proceeds of the Bonds; or (ii) an expenditure for the Project used (A) for the acquisition or improvement of land or the acquisition, construction, reconstruction or improvement of property of a character subject to the allowance for depreciation or (B) to redeem part or all of a prior issue which was issued for purposes described in (A) above; (iii) expenditures for the Project which, after taking into account all expenditures under (i) above, will not result in more than five per centum (5%) of the Net Proceeds being expended for expenditures other than those referred to in (ii) above;