Examples of Special Tax Fund in a sentence
From the amount then remaining on deposit in the Special Tax Fund (including the amount on deposit in the Surplus Account), the Fiscal Agent shall, as soon as such amount is sufficient, deposit in the Reserve Fund the amount, in addition to the amount transferred to the Bond Fund described above, necessary to replenish any draw on the Reserve Fund.
If the amount on deposit in the Reserve Fund is less than the Reserve Requirement on any date due to a transfer, if any, required by paragraph (C) above or as a result of the valuation of the Permitted Investments in the Reserve Fund pursuant to Section 6.01 below, the Fiscal Agent shall transfer to the Reserve Fund from the first available moneys in the Special Tax Fund, as set forth in Section 4.02(B)(1) hereof, an amount necessary to increase the balance therein to the Reserve Requirement.
Moneys in the Special Tax Fund shall be held by the Fiscal Agent for the benefit of the City and the Owner of the Bond, shall be disbursed as provided below and, pending disbursement, shall be subject to a lien in favor of the Owner of the Bond.
The Fiscal Agent shall keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the Fiscal Agent, in which complete and correct entries shall be made of all transactions made by it and with respect to the expenditure of amounts disbursed from the Bond Fund, the Special Tax Fund, the Administrative Expense Fund, the Reserve Fund and the Cost of Issuance Fund.
The Bond is a special obligation of the City and the District and is payable solely from and secured solely by the Special Tax Revenues and the amounts in the Bond Fund, the Reserve Fund and the Special Tax Fund, including the Surplus Account.