Special Facility definition
Examples of Special Facility in a sentence
The financial statements net the interest income received from the trust against the combined interest expenses of the Hotel Special Facility Bonds and the Series 2018B/C Bonds.
The Hotel Special Facility Bonds are limited obligations of the Commission.
In addition, restricted assets relating to the Hotel Special Facility Bonds are held by an independent bond trustee for the Hotel Special Facility Bonds.
Because the Airport is the issuer of the Hotel Special Facility Bonds and the sole beneficiary of the trust entity serving as holder of the Hotel Special Facility Bonds, neither the Hotel Special Facility Bonds debt service payments nor the Airport’s receipts from the trust are included in the accompanying financial statements.
Certain accounts relating to the Hotel Special Facility Bonds are held and invested at the Airport’s direction by an independent bond trustee.