Series 2016 Bonds definition
Examples of Series 2016 Bonds in a sentence
Ziegler Capital Management LLC is responsible for investment management of the funds associated with the Series 2016 Bonds and Series 2018 Bonds.
The Debt Service Reserve Fund required for the Series 2016 Bonds is $4,640,563 (equal to maximum annual debt service of$4,746,688 less the $106,125 in the Series 1996 Debt Service Reserve Fund).
On November 10, 2016, the Corporation entered into a loan agreement with the Medical Care Commission, and concurrently, the Medical Care Commission issued $58,765,000 Retirement Facilities First Mortgage Revenue Refunding Bonds (Series 2016 Bonds) in order to advance refund$61,515,000 of the remaining $61,855,000 in Series 2007A Bonds and pay for costs of issuance.
These Series 2016 Bonds bear interest at 2% through April 2036 and are unsecured.
Prior to the date fixed for redemption in whole, funds shall be deposited with Trustee to pay, and Trustee is hereby authorized and directed to apply such funds to the payment of the Series 2016 Bonds or portions thereof called, together with accrued interest thereon to the redemption date.