Series 2017 Certificates definition
Examples of Series 2017 Certificates in a sentence
The Series 2017 Certificates shall be issuable only as fully registered certificates without coupons in denominations of $5,000 and any integral multiple thereof.
The Series 2017 Certificates maturing on and after December 1, 2027 are subject to redemption at the option of the City on December 1, 2026 and any date thereafter at a redemption price equal to 100% of their principal amount plus accrued interest to the date of redemption.
For the purpose of providing funds to (a) current refund the City’s outstanding Series 2007 Certificates and (c) pay costs and expenses incidental to the delivery of the Series 2017 Certificates and the prepayment of the Series 2007 Certificates, the Lessor shall cause the Series 2017 Certificates to be executed and delivered pursuant to the Indenture and shall cause the proceeds from the sale thereof to be applied as provided in the Indenture.
A special account is hereby created and established with the Trustee, to be designated the “City of Northglenn Series 2017 Certificates of Participation Construction Fund” (the “Construction Fund”).
The Series 2017 Certificates shall be lettered “R” and shall be numbered consecutively from 1 upward.
Further, notwithstanding the foregoing, in the event a Determination of Taxability shall have occurred, the Interest Rate shall be increased to the Taxable Rate, effective retroactively to the date on which the interest payable on the Series 2017 Certificates became includable for federal income tax purposes in the gross income of the registered owner thereof.
The portion of the Distributions representing the principal component of the Series 2017 Certificates is payable on September 1 of each year, commencing September 1, 2019.
The net proceeds of the Series 2017 Certificates remaining after any required deposits to the Costs of Issuance Fund and the Interest Account of the Certificate Fund shall be deposited to the Construction Fund, to be held, invested, reinvested if necessary and applied as provided herein.
The Series 2017 Certificates are to be called, for redemption in whole, on any date, in the event of the occurrence of an Event of Nonappropriation or the occurrence and continuation of an Event of Default under the Lease.
The Acquisition Account shall be used to account for the net proceeds of the Series 2017 Certificates and any other moneys to be expended on the Project, including all other moneys the City may make available in its discretion, to pay the reasonable or necessary costs incidental to the acquisition of real property included in the site or sites of the Project and necessary and incidental expenses in connection with such acquisitions, in accordance with the Indenture.