Refunding Portion definition

Refunding Portion means that portion of a Multipurpose Issue the Proceeds of which are, or are to be, used to pay Debt Service on Refunded Bonds and includes Issuance Costs, Pre-Issuance Accrued Interest or permitted capitalized interest, a reasonably required reserve or replacement fund and similar costs properly allocable to the Refunding Portion.

Refunding Portion means the sale proceeds of the Certificates properly allocable to the refunding of the Refunded Obligations and related common costs of the Certificates.

Refunding Portion means the portion of 2020 Bonds or such other series or a portion of a series and the proceeds thereof allocable to the refunding of the Refunded Bonds determined by the Chairman or the Executive Director pursuant to Section 304 hereof.

Examples of Refunding Portion in a sentence

• The tax levies shall be irrepealable so long as any of the Refunding Portion of the Bonds are outstanding and unpaid, provided that the City reserves the right and power to reduce the levies in the manner and to the extent permitted by Minnesota Statutes, Section 475.61, Subdivision 3.

• To the Payment Account there shall be credited the proceeds of the sale of the Refunding Portion of the Bonds.

• The City shall comply with requirements necessary under the Code to establish and maintain the exclusion from gross income under Section 103 of the Code of the interest on the Refunding Portion of the Bonds, including without limitation (i) requirements relating to temporary periods for investments, (ii) limitations on amounts invested at a yield greater than the yield on the Refunding Portion of the Bonds, and (iii) the rebate of excess investment earnings to the United States.

• Proceeds of the Refunding Portion will be used as described in Sections 3.5 and 3.8. The Bond Compliance Officer will maintain accounting records showing the investment and expenditure of this money as part of the Tax-Advantaged Bond File.

• The Escrow Account will be irrevocably appropriated to the payment of the principal of and interest on the Refunding Portion of the Bonds until the proceeds of the Bonds therein are applied to prepayment of the Refunded Bonds.

More Definitions of Refunding Portion

Refunding Portion means, together, those portions of the Bonds identified in the

Refunding Portion means the sale proceeds of the Bonds identified in Section 3.6 together with the remaining Gross Proceeds of the Bonds properly allocable to the refunding of the Refunded Obligations.

Refunding Portion means those portions of the Bonds identified in the column

Refunding Portion means that portion of the Series 2013 Bonds that is providing financing to refund the Refunded Bonds and which will not be secured by or payable from the Revenues of the Sales Tax.

Refunding Portion means that portion of a Multipurpose Issue the Proceeds of which are, or are to be, used to pay Debt Service on Refunded Bonds and includes Issuance Costs, Pre Issuance Accrued Interest or permitted capitalized interest, a reasonably required reserve or replacement fund and similar costs properly allocable to the Refunding Portion.

Refunding Portion means (i) the portion of 2016 Series Three and Four Bonds and the proceeds thereof allocable to the refunding of the Refunded Bonds; and (ii) if so determined by the Chairman or the Executive Director pursuant to Section 304 hereof, the portion, if any, of 2016 Series Three and Four Bonds that are issued as Reserve Obligations.

Refunding Portion means the sale proceeds of the Bonds properly allocable to a current refunding of the Refunded Obligations together with allocable common costs of the Bonds.