Utility Bonds definition

Utility Bonds means, initially, corporate debt obligations issued by state regulated public utility companies rated from BBB- to AAA by S&P and from Baa3 to Aaa by Moody's, which corporate debt obligations (a) provide for the periodic payment of interest thereon in cash in U.S. dollars, (b) do not provide for conversion or exchange into equity capital at any time over their respective lives, (c) have been registered under the Securities Act of 1933, as amended, and (d) have not had notice given in respect thereof that any such corporate debt obligations are the subject of an offer by the issuer thereof of exchange or tender for cash, securities or any other type of consideration. In addition, so long as the shares of RP are rate by S&P or Moody's, no corporate debt obligation held by the Corporation shall be deemed a Utility Bond (i) if it fails to meet the criteria in column (1) below or (ii) to the extent (but only to the proportionate extent) the acquisition or holding thereof by the Corporation causes the Corporation to exceed any applicable limitation set forth in column (2) below in the event the shares of RP are rated by S&P or column (2), (3) or (4) below in the event the shares to RP are rated by Moody's as of any relevant date of determination (provided that, in the event that the Corporation shall exceed any such limitation, the Corporation shall designate, in its sole discretion, the particular Utility Bond(s) and/or portions thereof which shall be deemed to have caused the Corporation to exceed such limitation):
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Utility Bonds means any bonds issued by the Authority pursuant to Act 392, Act 100 and the Amended and Restated Trust Agreement and secured by a pledge of Utility Taxes.
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Utility Bonds or “Bonds” means any bond issued by the District secured by a lien on the ad valorem taxes levied by the District pursuant to Article XVI, Section 59 of the Texas Constitution and a lien on a pro rata portion of the Available TIRZ Utility Revenues, but only to the extent such Utility Bonds remain Outstanding.
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Examples of Utility Bonds in a sentence

  • The average period of usefulness for the Sewer Utility Bonds and the Water Utility Bonds,computed on the basis of the respective amounts of Sewer and Water Utility Bonds presently authorized to be issued pursuant to each of the bond ordinances and the respective periods or average periods of usefulness therein determined, is not less than 40.00 years .

  • Funding is available in 2007, 2008, 2009 C & D and 2010 Utility Bonds.

  • In previous years, the department used the Corporate Bond Yield Averages for Public Utility Bonds from Mergent Bond Record as an estimate of the cost of debt for the Electric and Gas Distribution market segments and the Corporate Bond Yield Averages for Industrial Bonds from Mergent Bond Record, for the Gas Transmission Pipeline, Fluid Transportation Pipeline, and Railroad market segments.

  • Authorize such other action as may be necessary to proceed with the sale and issuance of the Utility Bonds.

  • Bond Counsel is hereby authorized to forward a certified copy of this resolution to SBC for approval of the fees and expenses associated with the remarketing of the Utility Bonds.

  • Funding is to be provided in the 2000, 2004, 2005, and 2008 Utility Bonds.

  • The fee of Authority Swap Counsel is hereby fixed at a sum not to exceed $45,000.00, plus "out-of-pocket" expenses, said fee to be contingent upon the successful remarketing of the Utility Bonds and the continued integration and preservation of the Swap without penalty to the City .

  • Proceeds were used to refund the General Obligation Electric Utility Bonds, Series 2008.

  • The City hereby requests that the Authority approve the remarketing of the Utility Bonds and consider an appropriate resolution to allow the authorized officers of the Authority to execute and deliver any appropriate documentation in connection the remarketing of the Utility Bonds.

  • An “abatement” may be claimed whether or not any provincial tax is paid, whereas a credit can be claimed only against tax paid (Burns, 1980, p.111).


More Definitions of Utility Bonds

Utility Bonds means bonds (evidencing prepaid utility costs) posted by any Borrower to the utility company at any given Restaurant to ensure timely payments of utility fees and costs to such utility company.
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Utility Bonds means any guarantees of charges and fees payable for telephone services, water, heat, steam, electric power, gas and other utilities.
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Utility Bonds means utility bonds required to be delivered by Mortgage Borrower to any utility company providing utility services to each respective Individual Property.
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Related to Utility Bonds

  • Parity Bonds means bonds payable from the revenues of the System other than the Bonds but issued on a parity and equality with the Bonds pursuant to the restrictive provisions of Section 11 of this Resolution;

  • Utility facility means any pipe, pipeline, duct, wire line, conduit, pole, tower, equipment or other structure used for one of the following:

  • Utility pole means a pole that provides:

  • Utility line means any item of public or private property which is buried or placed below ground

  • Bonds means any bonds (including refunding bonds), notes, interim certificates, certificates of indebtedness, debentures or other obligations.

  • Utility means the Project if the Project is or upon completion of construction of the Project, will be a facility which generates revenues from fees, charges or taxes associated with the use of the facility.