03-1460 Infrastructure Bonds - Laserfiche WebLink

Home Browse Search

"Amortization Installment" shall mean an amount designated as such by Supplemental Resolution of the Issuer and established with respect to Term Bonds. "Annual Debt Service" shall mean, at any time, the aggregate amount in the then CUlTent Fiscal Year of(l) interest required to be paid on the Outstanding Bonds during such Fiscal Year, except to the extent that such interest is to be paid from deposits in the Payment Account made from Bond proceeds, (2) principal of Outstanding Serial Bonds maturing in such Fiscal Year, and (3) the Amortization Installments herein designated with respect to such Fiscal Year. "Authorized Investmeuts" shall mean any of the following, if and to the extent that the same are at the time legal for investment of funds of the Issuer: (1) Direct obligations of the United States of America and securities fully and unconditionally guaranteed as to the timely payment of principal and interest by the United States of America, provided, that the full faith and credit of the United States of America must be pledged to any such direct obligation or guarantee ("Direct Obligations"). (2) Direct obligations and fully guaranteed celiificates of beneficial interest ofthe Export-Import Bank of the United States; senior debt obligations ofthe Federal Home Loan Banks; debentures of the Federal Housing Administration; guaranteed mortgage-backed bonds and guaranteed pass-through obligations of the Government National Mortgage Association; guaranteed Title XI financing of the U.S. Maritime Administration; mortgage- backed securities and senior debt obligations of the Federal National Mortgage Association; participation certificates and senior debt obligations of the Federal Home Loan MOIigage Corporation; and obligations of the Resolution Funding Corporation (collectively, "Agency Obligations"). (3) Direct obligations of any state of the United States of America or any subdivision or agency thereof whose unsecured general obligation debt is rated "A3" or better by Moody's and "A-" or better by Standard & Poor's, or any obligation fully and unconditionally guaranteed by any state, subdivision or agency whose unsecured general obligation debt is rated "A3" or better by Moody's and "A-" or better by Standard & Poor's. (4) Commercial paper rated "Prime-I" by Moody's and "A-I" or better by Standard & Poor's. (5) & Poor's. Obligations rated "A3" or better by Moody's and "A-" or better by Standard (6) Deposits, Federal funds or bankers acceptances of any domestic bank, including a branch office of a foreign bank which branch office is located in the United States, provided legal opinions are received to the effect that fully and timely payment of 2