Examples of Series 2006B Bonds in a sentence
Financial Guaranty Insurance Company (FGIC) provided a municipal bond insurance policy for the Series 2006B Bonds.
FGIC was downgraded by the rating agencies and, as a result, the variable interest rate on the Series 2006B Bonds increased significantly and was at a rate that was unacceptable to the Parish.
The Swap Agreements entered into to hedge exposure to variable interest rates on the Series 2006B Bonds, remained in place and were amended to relate to the Series 2008A Bonds.
Interest and principal on the Series 2006B Bonds will not be paid until there is sufficient tax increment to service the interest and principal due on the Series 2006A Bonds and to establish various reserves and deposits.
The purposes for which the Series 2015 Bonds are being issued are (i) to refund certain of the outstanding Series 2006A Bonds, Series 2006B Bonds and Series 2008A Bonds, (ii) to make such deposit to the Reserve Fund, if any, as may be necessary in connection with the issuance of the Series 2015 Bonds and (iii) to pay the costs of issuance of the Series 2015 Bonds and contingency amounts.
The Series 2006B Bonds bear interest at the rate of 7.5% per annum, payable semi-annually.
Interest and principal on the Series 2006B Bonds are special obligations of the City payable only from specified tax increment to be deposited in a special revenue account pursuant to an ordinance enacted by the City Council.
The Airports Authority has $227.5 million of Series 2005A Bonds that are callable on October 1, 2015, $245.0 million of Series 2006A Bonds that are callable on October 1, 2016 and $375.3 million of Series 2006B Bonds that are also callable on October 1, 2016.
Except for the Series 2006A Bonds, the Series 2006B Bonds and the Series 2008A Bonds, at the time of the issuance and delivery of the Bonds, there will be no other obligations which have a lien on, or are secured by a pledge of, the Trust Estate or assets or Revenues of the Electric System on a parity with the Bonds.
The refunding of all or a portion of the Series 2006A Bonds, Series 2006B Bonds and Series 2008A Bonds (the “ Refunded Bonds”) by the issuance of the Series 2015Bonds, provided that the aggregate net present value debt service savings resulting from said refunding is equal to at least three (3%) percent of the principal amount of the Refunded Bonds, is hereby authorized, and the Mayor and/or City Finance Officer are hereby authorized to proceed herewith.