Examples of School Bonds in a sentence
In order to finance the cost of the purposes set forth in Section 1 hereof, the Board is hereby authorized to issue not to exceed $9,800,000 aggregate principal amount of Refunding School Bonds, all in accordance with the requirements of N.J.S.A. 18A:24-61 through 62, which Refunding School Bonds may be issued in one or more multiple series.
VPSA has determined that in order to fulfill its representations respecting the maintenance of the excludability of the interest on the VPSA Bonds from gross income for federal income taxation under Section 103 of the Code, VPSA must establish a mechanism to provide accountability for the custody, investment and disbursement of the proceeds of the Local School Bonds, which for purposes of the Code continue to be proceeds of the VPSA Bonds.
The difference in the interest rates between the VPSA Bonds and the Local School Bonds shall be collected and retained by VPSA as partial payment of the administrative costs incurred by VPSA in connection with issuing, carrying, and repaying the VPSA Bonds, and the underwriting discount, if any, and the cost of purchasing, carrying, and selling or redeeming the Local School Bonds.
Any statements of facts contained in these recitals pertaining to the sale of the VPSA Bonds and the application of such proceeds, other than the purchase of the Local School Bonds, will not be deemed to be made by the Localities except to the extent they have knowledge of such facts.
VPSA will apply certain of the proceeds of the sale of the VPSA Bonds to purchase the Local School Bonds on the Closing Date.