Examples of Refunded Prior Bonds in a sentence
Upon payment in full of the principal, interest and redemption premium of the Refunded Prior Bonds, and all fees, expense and charges of the Escrow Bank as described above, this Agreement shall terminate and the Escrow Bank shall be discharged from any further obligation or responsibility hereunder.
The Escrow Bank shall not be liable for the recitals or representations contained in this Agreement and shall not be responsible for the validity of this Agreement, the sufficiency of the Escrow Fund or the moneys and Federal Securities or any substitute Federal Securities to pay the principal, interest and redemption premium on the Refunded Prior Bonds.
This Agreement may be amended by the parties hereto, but only if there shall have been filed with the District and the Escrow Bank a written opinion of Bond Counsel stating that such amendment will not materially adversely affect the interests of the owners of the Refunded Prior Bonds, and that such amendment will not cause interest on the Refunded Prior Bonds to become includable in the gross income of the owners thereof for federal income tax purposes.
There is hereby created a fund (the “Escrow Fund”) to be held by the Escrow Bank as an irrevocable escrow securing the payment of the Refunded Prior Bonds, subject to and in accordance with the provisions of this Agreement.
The Council hereby determines that it is advisable to contract a debt and issue and sell its Bonds for the purpose of refunding the Refunded Prior Bonds, including the payment of redemption premium thereon, and financing the costs of issuing the Bonds.
By: _______________________________ Title: ____________________________ XXXXXXXX AIRPORT ADVERTISING, INC.
The City shall irrevocably deposit in the Escrow Fund an amount of proceeds received by the City from the sale of the Bonds which will be sufficient to provide (taking into account investment earnings or not taking them into account in the discretion of the City) for the payment of the principal of, redemption premium and interest on the Refunded Prior Bonds upon the Redemption Date and for the interest coming due thereon prior to the Redemption Date.
This program is carried out at the initiative of the central government, in this case the PP-PA Ministry, and regional governments (provinces and kabupaten/kota).
The principal amount of the Bonds does not exceed the amount necessary to retire the Refunded Prior Bonds, including costs of issuance of the Bonds.
All of the terms of the Prior Bonds Resolution relating to the making of payments of principal of and interest on the Refunded Prior Bonds are incorporated in this Agreement as if set forth in full herein.