Examples of Series 2016A Bonds in a sentence
The Issuer agrees, upon the terms and conditions in this Loan Agreement and the Bond Resolution, to lend to the Borrower the gross proceeds of issuance of the Series 2016A Bonds ($ ) and further agrees to deposit the net proceeds of sale thereof into the Bond Fund and the Project Fund established under the Bond Resolution (the “Loan”).
If, as of any date on which principal of or interest on the Series 2016A Bonds is due, the Borrower has not met the conditions for disbursement set forth in this Section 3.03 and has not made the payments required pursuant to Article IV, the Issuer may transfer such amounts from the Project Fund to the Bond Fund.
In order to provide funds to loan to the Borrower for payment of the Project Costs, and the Issuer has, or will have, upon or promptly after the execution of this Loan Agreement, issued and delivered the Series 2016A Bonds to the Original Purchaser and, has or will have deposited the net proceeds of the Series 2016A Bonds in the amount of $ ($ par, plus $ original issue premium, less $ underwriter’s discount, less $ capitalized interest deposited to the Bond Fund) in the Project Fund.
The Series 2016A Bonds will be subject to prior redemption at the direction of the Borrower, and the Borrower shall have and is hereby granted, the option to prepay the Loan and request that the Series 2016A Bonds be redeemed on such dates and at such redemption prices as are set forth in the Bond Resolution.
Borrower (i) having received the executed Broadband Grant Agreement from the State of Minnesota through its Department of Employment and Economic Development and (ii) having sufficient equity available for, and committed to pay, any costs of the Project in excess of the amount of the net proceeds of the Series 2016A Bonds and the Broadband Grant, based on a certification of the Borrower as to the total development cost of the Project.