Examples of Series 2008C Bonds in a sentence
The Series 2008C Bonds are expected to be assigned short-term ratings of F1+ by Fitch Ratings (“Fitch”) and A-1 by Standard & Poor’s Ratings Services (“Standard & Poor’s”) (each a “Rating Agency” and, collectively, the “Rating Agencies”), based on the Liquidity Facility being provided by BMO Harris Bank N.A. with respect to the Series 2008C Bonds on the Substitution Date.
A copy of the approving opinion delivered in connection with the original issuance of the Series 2008C Bonds is set forth in Appendix A hereto.
However, to address this possibility, the System has taken steps to provide various sources of liquidity, including assessing alternate sources of financing, including lines of credit and/or net assets without donor restrictions as a source of self-liquidity.The System has standby bond purchase agreements with banks to provide liquidity support for the Series 2008C Bonds.
This Reoffering Circular generally only describes the Series 2008C Bonds bearing interest at a Daily Rate, Weekly Rate or Monthly Rate.
The Remarketing Agent shall provide reports to the Authority on a quarterly basis as to the interest rates for the Series 2008C Bonds and other remarketing activity.
The aggregate principal amount of all Series 2008C Bonds purchased on any date, together with the aggregate principal amount of all Bank Bonds (as defined in the Liquidity Facility) then outstanding, shall not exceed the Available Principal Commitment (as defined in the Liquidity Facility).
Under certain circumstances described below, the obligation of the Bank to purchase the Series 2008C Bonds tendered or deemed tendered by the owners thereof pursuant to an optional or mandatory tender may be suspended or terminated, in certain cases, without notice to the Trustee or the holders of the Series 2008C Bonds.
Any balance of the proceeds remaining after such work has been completed shall be applied as provided in (d) below.In the event that Net Proceeds of insurance are used to redeem Bonds, such Net Proceeds shall be used to redeem Series 2008C Bonds and Series 2008D Bonds on a proportionate basis (based on the amount of each Series of Bonds outstanding).
The Stated Expiration Date of the Liquidity Facility is November 15, 2019, the maturity date of the Series 2008C Bonds.
On the Substitution Date, Sidley Austin LLP will deliver its opinion to the effect that the substitution of the Liquidity Facility with respect to the Series 2008C Bonds will not cause interest on the Series 2008C Bonds to be included in gross income of the owners of such Series 2008C Bonds for purposes of federal income taxation.