Examples of Refundable Bonds in a sentence
The District hereby authorizes the issuance of General Obligation Refunding Bonds (the “Refunding Bonds”) in an aggregate principal amount sufficient to refund all or a portion of the Refundable Bonds and to pay the costs related to the refunding and the issuance of the Refunding Bonds.
Prior to approving the sale of the Bonds, the Designated Representative must determine in writing that, in his or her judgment, each of the following conditions are met: The Redemption Date is the earliest practical date on which the Refundable Bonds may be called for redemption.
The Finance Director is authorized to take all action necessary to call the Refundable Bonds for redemption on the Redemption Date in accordance with the 2010 Senior Lien Bond Ordinance and this ordinance.
In making such determination, the Designated Representative shall give consideration to the fixed maturities (and scheduled mandatory principal redemptions) of the Bonds and the Refundable Bonds, the costs of issuance of the Bonds and the known earned income from the investment of the proceeds of the issuance and sale of the Bonds pending payment and redemption of the Refundable Bonds.
Such call for redemption shall identify the Refundable Bonds, the maturity dates, the Redemption Date and redemption price (expressed as a percentage of par, plus accrued interest), and shall be irrevocable after the Bonds are delivered to the Purchaser.