03-1461 Gas Tax Bonds - Laserfiche WebLink

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Commission shall determine to finance including all property, rights, easements and franchises relating thereto and deemed necessary or convenient for the acquisition, construction or operation thereof which are financed in whole or in part with the indebtedness secured by this Resolution. The description of any Additional Project shall be set forth in the Supplemental Resolution authorizing the issuance of the Series of Bonds which shall finance the acquisition, construction and funding of such Additional Project. "Amortization Installment" shall mean an amount designated as such hereby or by Supplemental Resolution and established with respect to Term Bonds. "Annual Debt Service" shall mean, at any time, the aggregate amount in the then current Fiscal Year of (I) 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 Interest Account made from Bond proceeds, (2) principal of Outstanding Serial Bonds maturing in such Fiscal Year, and (3) the Amortization Installments due in such Fiscal Year. "Authorized Investments" shall mean any of the following, if and to the extent that the same are at the time legal for investment of funds ofthe Issuer: (I) 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 certificates of beneficial interest of the Export- Import Bank of the United States; senior debt obligations of the 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 Mortgage 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 ful1y 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) Poor's. Commercial paper rated "Prime-I" by Moody's and "A- I" or better by Standard & (5) Obligations rated "A3" or better by Moody's and "A-" or better by Standard & Poor's. 2