03-1461 Gas Tax Bonds - Laserfiche WebLink

Home Browse Search

"Local Option Gas Tax Revenues"shall mean all proceeds of the local option gas tax levied pursuant to Section 336.025, Florida Statutes, and distributed to the Issuer in accordance with the Act. "Maximum Annual Debt Service" shall mean the largest aggregate amount of the Annual Debt Service becoming due in any Fiscal Year in which Bonds are Outstanding, excluding all Fiscal Years which shall have ended prior to the Fiscal Year in which the Maximum Annual Debt Service shall at any time be computed. "Mayor" shall mean the Mayor of the City and such other person as may be duly authorized to act on his or her behalf. "Moody's Investors Service" or "Moody's" shall mean Moody's Investors Service, and any assigns or successors thereto. "Outstanding," when used with reference to Bonds and as of any particular date, shall describe all Bonds theretofore and thereupon being authenticated and delivered except, (I) any Bond in lieu of which another Bond or other Bonds have been issued under agreement to replace lost, mutilated or destroyed Bonds, (2) any Bond surrendered by the Holder thereof in exchange for another Bond or other Bonds under Sections 2.08 and 2.10 hereof, (3) Bonds deemed to have been paid pursuant to Section 8.01 hereof, and (4) Bonds cancelled after purchase in the open market or because of payment at or redemption prior to maturity. "Outstanding Principal Amount" shall mean the monthly outstanding principal amount remaining due on the Series 2003 Note after subtracting the Monthly Principal Payment. "Paying Agent" shall mean for each Series of Bonds any paying agent for such Series of Bonds appointed by or pursuant to this Resolution and its successor or assigns, and any other Person which may at any time be substituted in its place pursuant to this Resolution. The Clerk shall serve as Paying Agent for the Series 2003 Note. "Person" shall mean an individual, a corporation, a partnership, an association, ajoint stock company, a trust, any unincorporated organization, govemmental entity or other legal entity. "Pledged Funds" shall mean (I) the Local Option Gas Tax Revenues and (2) until applied in accordance with the provisions of this Resolution, all moneys, including investments thereof, in the funds and accounts established hereunder except for the Umestricted Revenue Account and the Rebate Account. "Prepayment Penalty" shall mean an amount equal to the result of multiplying the prepayment principal balance (a) of this Note as of the date the prepayment occurs, times the difference between the "yield-to-maturity" of the U.S. Treasury Note or Bond (b) in effect at the time of origination of this Note having a maturity equal or comparable to the original term of this Note 8