Series 2016B Bond definition
Examples of Series 2016B Bond in a sentence
Upon surrender of a Series 2016B Bond to be redeemed in part only, the Trustee will authenticate for the holder a new Series 2016B Bond or Series 2016B Bonds of the same maturity equal in principal amount to the unredeemed portion of the Series 2016B Bond surrendered.
In case a Series 2016B Bond is of a denomination larger than $5,000, a portion of such Bond ($5,000 or any integral multiple thereof) may be redeemed if otherwise permitted, but Series 2016B Bonds shall be redeemed only in the principal amount of $5,000 or any integral multiple thereof.
Additionally, not more than 50% of the proceeds of the Series 2016B Bond will be invested in nonpurpose investments having a substantially guaranteed yield for four years or more.
The undersigned expect to derive proceeds from the sale of the Series 2016B Bond in the total amount of $__________.00, which will be applied as follows: $__________ of such proceeds are expected to be used on the Closing Date to redeem the Refunded Bonds.
For purposes of computing the yield on the Series 2016B Bond, payments made or received under a "qualified hedge" relating to bonds of an issue are taken into account to determine the yield on the issue.
Each Verification and defeasance opinion shall be acceptable in form and substance, and addressed, to the Authority, Trustee and Series 2016B Bond Insurer.
The Borrower reasonably expects that at least 95% of the net proceeds derived from the sale of the Series 2016B Bond, including investment earnings thereon, will be used for activities directly related to the exempt purposes of the Borrower and not associated with any "unrelated trade or business" within the meaning of Section 513(a) of the Code and not in a Private Use (as defined below).
The Series 2016B Bond Insurer reserves the right to charge a reasonable fee as a condition to executing any amendment, waiver or consent proposed in respect of the Indenture or any other Related Document.
Earnings on such amounts may be invested at an unrestricted yield for a period not to exceed one year from the date of receipt of the amount earned and, thereafter, shall be invested at a yield not in excess of the yield on the Series 2016B Bond plus 0.001%.
The Trustee shall receive any amount paid under the Series 2016B Bond Insurance Policy in trust on behalf of Holders of the Series 2016B Insured Bonds and shall deposit any such amount in the Policy Payments Account and distribute such amount only for purposes of making the payments for which a claim was made.