Examples of Series 1994 Bonds in a sentence
The Authority issued its Revenue Bonds of 1994 (Series 1994 Bonds) to purchase the City’s 1994 Limited Obligation Assessment Bonds and Sewer Revenue Bonds.
Pursuant to an Escrow Deposit Agreement with The Bank of New York Mellon, as escrow deposit agent (the “1994 Escrow Deposit Agent”), supported by a report of the verification agent, the MDTA provided for the payment of PFC revenues for the defeasance of the outstanding Series 1994 Bonds, and directed the 1994 Escrow Deposit Agent to redeem the Series 1994 Bonds on or before July 1, 2004.
As of June 10, 2003, The Bank of New York Mellon, as Trustee, certified that the pledged money in the General Account of the MDTA under the 1985 Trust Agreement, as theretofore amended and supplemented, and a Seventh Supplemental Trust Agreement thereto, for the Series 1994 Bonds was discharged, and that all of the obligations of the MDTA with respect to payment of the principal or redemption price and interest on the Series 1994 Bonds are satisfied.
These bonds were issued for the purpose of, among other things, advance refunding of previously issued bonds in order to obtain lower interest rates.The proceeds of the 1998 Series A and B Bonds were placed in an irrevocable trust account to provide for all future debt service payments on the Highway Revenue Bonds Series 1989, Series 1991, Series 1992, Series 1993, and Series 1994 Bonds.
As of September 30, 2020, the Series 1994 Bonds were paid off and there is no longer a requirement for the reserve fund.