School Financing Act definition

School Financing Act means part A-3 of chapter 58 of the 2006 laws of New York, as it may be amended and in effect from time to time.
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Examples of School Financing Act in a sentence

  • The School Financing Act authorizes the Authority to issue bonds, notes or other obligations in an amount outstanding of up to $9.4 billion to finance a portion of the City’s five-year educational facilities capital plan (the “Five-Year Plan”) and authorizes the City to assign to the Authority all or any portion of the State aid payable to the City or its school district pursuant to subdivision 6 of Section 3602 of the State Education Law, or any successor provision of State law (“State Building Aid”).

  • New York City Transitional Finance Authority The School Financing Act (Part A-3 of Chapter 58 of the Laws of 2006), included as part of the SFY 2006-07 Enacted Budget, authorized an additional $9.4 billion in bonds for the New York City TFA to finance a portion of New York City’s (the City’s) educational facilities capital plan, as well as the bonds’ issuance costs, debt service reserves, refunding bonds and any capitalized interest, which is expressly authorized without limitation.

  • The School Financing Act authorizes the issuance of Building Aid Revenue Bonds of the Authority in an amount outstanding of up to $9.4 billion to finance portions of the Five Year Plan.

  • The School Financing Act also authorized the City, acting through the Mayor, to assign all or a portion of the City’s State Building Aid (State aid payable to the City or its school district pursuant to subdivision 6 of section 3602 of the Education Law) to the TFA, at which point it becomes the property of the TFA.

  • The School Financing Act authorizes the issuance of Building Aid Revenue Bonds of the Authority in an amount outstanding of up to $9.4 billion to finance portions of the City’s educational facilities capital plan.

  • The Series 2018 S Bonds are being issued by the Authority pursuant to the School Financing Act and the Enabling Act, as amended (collectively, the “Act”), and the Amended and Restated Original Indenture, as restated December 1, 2010, as supplemented (the “Indenture”), by and between the Authority and The Bank of New York Mellon, New York, New York, as trustee (the “Trustee”).

  • Nothing in this covenant shall be deemed to obligate the State to make any additional payments or impose any taxes to satisfy the obligations of the Authority; (c) subdivision 4 of § 2799-tt of the Act (added by the School Financing Act) to the effect that: The State Covenant shall be fully applicable to School Bonds and School Notes and may be included in any agreement with the Holders thereof.

  • See ‘‘SECTION III: TAX REVENUES AVAILABLE FOR PAYMENT OF PRE-07 S-1 OBLIGATIONS—Debt Service Coverage.’’ Pursuant to an Assignment of State Aid (the ‘‘Assignment’’) dated October 19, 2006, as amended, the City, acting through the Mayor, has assigned to the Authority all of the State Building Aid, and, pursuant to the School Financing Act, State Building Aid and the right to receive the State Building Aid are now the property of the Authority.

  • While no assurance can be given that the MOU will be legally enforceable, the School Financing Act authorizes the assignment of State Building Aid by the City to the Authority and requires the payment of State Building Aid to the Authority following such assignment.

  • The School Financing Act authorizes the Authority to issue bonds, notes or other obligations in an amount outstanding of up to $9.4 billion to finance a portion of the City’s five-year educational facilities capital plan (the ‘‘Five-Year Plan’’) and authorizes the City to assign to the Authority all or any portion of the State aid payable to the City or its school district pursuant to subdivision 6 of Section 3602 of the State Education Law, or any successor provision of State law (‘‘State Building Aid’’).

Related to School Financing Act

  • Banking Act means the UK Banking Act 2009, as amended.

  • UK Financial Institutions means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Federal financial assistance means any grant, loan, contract (other than a procurement contract or a contract of insurance or guaranty), or any other arrangement by which the Department provides or otherwise makes available assistance in the form of:

  • Enabling Act means Title 4, Chapter 15, as amended, of the South Carolina Code as supplemented by Section 11-27-40 of the South Carolina Code.

  • amending Act means the Passenger Transportation Amendment Act, 2018, S.B.C. 2018, c. 53;

  • Fair Housing Act means the Fair Housing Act, as amended.

  • Canadian financial institution means (i) an association governed by the Cooperative Credit Associations Act (Canada) or a central cooperative credit society for which an order has been made under section 473(1) of that Act, or (ii) a bank, loan corporation, trust company, trust corporation, insurance company, treasury branch, credit union, caisse populaire, financial services cooperative, or league that, in each case, is authorized by an enactment of Canada or a jurisdiction of Canada to carry on business in Canada or a jurisdiction of Canada;

  • Financing of Terrorism means the act of providing or collecting funds with the intention that they be used, or in the knowledge that they are to be used, in order to carry out terrorist acts.

  • Applicable School Finance Law means Chapters 48 and 49 of the TEXAS EDUCATION CODE, and other applicable provisions of the TEXAS EDUCATION CODE, the Texas Economic Development Act (Chapter 313 of the TEXAS TAX CODE); Chapter 403, Subchapter M, of the TEXAS GOVERNMENT CODE applicable to the District; and, the Constitution and general laws of the State applicable to the school districts of the State, including specifically, the applicable rules, regulations, and interpretations of the agencies of the State having jurisdiction over any matters relating to the public school systems and school districts of the State, and judicial decisions construing or interpreting any of the above. The term also includes any amendments or successor statutes that may be adopted in the future which impact or alter the calculation of the Applicant’s ad valorem tax obligation or the M&O Amount in Section 4.2 of this Agreement to the District, either with or without the limitation of property values made pursuant to this Agreement.

  • terrorist financing means terrorist financing as defined in Article 1(5) of Directive (EU) 2015/849;

  • UK Financial Institution means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms.

  • Qualified United States financial institution means an institution that:

  • Municipal Finance Management Act means the Local Government: Municipal Finance Management Act, 2003 (Act No. 56 of 2003);

  • Bank Act means the Bank Act (Canada);

  • Securities Trading Act means the Securities Trading Act of 2007 no.75 of the Relevant Jurisdiction.