Redemption Fund definition
Examples of Redemption Fund in a sentence
All moneys deposited by the City with the Trustee for the purpose of redeeming Bonds shall be deposited in the Redemption Fund.
The city shall establish and maintain a fund designated Bond and Interest Redemption Fund (the “redemption fund”), the moneys on deposit therein from time to time to be used solely for the purpose of paying the principal of, redemption premiums (if any) and interest on the bonds.
Any unclaimed funds repaid to the Successor Agency with respect to (i) the Prior Tax-Exempt Obligations shall be placed by the Successor Agency in the Redemption Fund for the 2015A Refunding Bonds and used for credit on debt service on the 2015A Refunding Bonds, and (ii) with respect to the Prior Taxable Obligations shall be placed by the Successor Agency in the Redemption Fund for the 2015B Refunding Bonds and used for credit on debt service on the 2015B Refunding Bonds.
All moneys which shall have been withdrawn from the Revenue Fund and deposited in the Redemption Fund for the purpose of paying any of the Bonds hereby secured, either at the maturity thereof or upon call for redemption, shall be held in trust for the respective Holders of such Bonds.