Tax Exempt Obligations definition

Tax Exempt Obligations means any bond, note or other obligation issued by any person, the interest on which is excludable from gross income for federal income tax purposes.

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Tax Exempt Obligations means bonds or other obligations the interest on which is excludable from the gross income of the owners thereof under Section 103 of the Code and include certain regulated investment companies, stock in tax-exempt mutual funds and demand deposit SLGS.

Tax Exempt Obligations means obligations to which Section 103 of the Code applies, the interest on which is excluded from gross income for federal income tax purposes.

Examples of Tax Exempt Obligations in a sentence

• Each Participant represents, warrants and covenants that it will establish 17 reasonable procedures to ensure that no action is taken by it that would cause any Bonds 18 issued as Tax Exempt Obligations to meet, to the extent applicable, the private business use 19 test or the private loan test of Section 141 of the Code and to ensure continued qualification of 20 the Bonds issued as Tax Exempt Obligations.

• The Issuer hereby covenants that it will restrict the investment and reinvestment and the use of the proceeds of the Tax- Exempt Obligations in such manner and to such extent, if any, as may be necessary, after taking into account reasonable expectations at the time of delivery of and payment for the Tax-Exempt Obligations or subsequent intentional acts, so that the Tax-Exempt Bonds will not constitute arbitrage bonds under Section 148 of the Code.

• The provisions of this Section 9 shall survive the final payment or defeasance of the Tax- Exempt Obligations and the term of this Regulatory Agreement.

• In order to meet the Rebate Requirements of the Code, unless during each Bond Year all Gross Proceeds are invested at a Yield that is less than the Yield of the Lease or are invested in Tax- Exempt Obligations, the County will comply with and take the action required by this Exhibit B.

• The Bonds will not be hedge bonds as defined in Section 149(g) of the Code since the Issuer and the Borrower reasonably expect that at least 85% of the spendable proceeds of the Bonds will be used to carry out the governmental purposes of the issue within a three year period beginning on the Delivery Date and not more than 50% of the proceeds of the Bonds are or will be invested on investments (other than Tax Exempt Obligations) having a yield that is substantially guaranteed for four years or more.

More Definitions of Tax Exempt Obligations

Tax Exempt Obligations means any Refunding Bonds the interest on which is intended to be excluded from gross income for federal income tax purposes.

Tax Exempt Obligations means bonds, notes, certificates or other obligations, the interest on which is excluded from gross income under the United States Internal Revenue Code.

Tax Exempt Obligations means any Series of Bonds issued pursuant to the terms of this Resolution together with an opinion of Bond Counsel to the effect that the interest on such Bonds is excludable from gross income pursuant to the provisions of the Code (notwithstanding the application of the provisions of the Code relating to alternative minimum taxation).

Tax Exempt Obligations means tax-exempt bonds, notes, certificates, or other obligations included in the meaning of “bonds” under Code Section 150.

Tax Exempt Obligations means, collectively, (i) District Debt and (ii) obligations issued by a Municipal Customer to finance District-Operated Facilities, the interest on which is not includible in gross income of the owners thereof for federal income tax purposes.

Tax Exempt Obligations means the Bonds of any Series determined to be

Tax Exempt Obligations means those certain obligations executed and delivered by or on behalf of the District, representing and evidencing interests of the owners thereof in certain installment payments made by the District for the acquisition of the Project, whose proceeds were used to finance, refinance or reimburse the costs of Seismic Remediation Improvements, in an aggregate principal amount of not to exceed the net amount, following the application of proceeds of sale of the General Obligation Bonds, required to complete the Seismic Remediation Improvements pursuant to State mandate and the District's competitive bid process for such improvements. The term