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1984-036
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1984-036
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Last modified
4/18/2023 2:31:50 PM
Creation date
4/18/2023 2:31:16 PM
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Resolutions
Resolution Number
1984-036
Approved Date
05/23/1984
Subject
Authorizing ther issuance o $1,000,000 Capital Improvement Revenue Bonds (junior Lien)
for the same purpose & authorized validation of same with understanding that no further action
in connection with the actual refinancing will be taken without first coming to the commission
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E <br />t � <br />of the principal of which, at the maturity thereof, no fixed <br />Amortization Installment or bond redemption deposits are required <br />to be made prior to the twelve-mont.li period immediately preceding <br />the stated date of maturity thereof. <br />G. "Term Bonds" shall mean the Bonds of an installment-- <br />all <br />nstallmentall of which shall be stated to mature on one date and which shall <br />be subject to retirement by operation of the Bond Amortization <br />Account herein established within the Bond Service Fund. <br />H. "[amortization Installment", with respect. to any Term <br />Bonds of an installment, shall mean an amount or amounts so <br />designated which is or are established for the Term Bonds of such <br />installment, provided that the aggregate of such Amortization <br />Installments for each maturity of Term Bonds of such installment <br />shall equal the aggregate principal amount of each maturity of <br />Term Bonds of such installment delivered on original issuance. <br />I. "Bond Service Requirement" for any Fiscal Year, as <br />applied to the Bonds, shall mean the sum o': <br />(1) the amount required to pay the interest becoming due <br />on the Bonds during such Fiscal Year, except to the extent that <br />such interest shall have been provided by payments into the Bond <br />Service Fund out of proceeds of the sale of the Bonds for a speci- <br />fic period of time or by payments of investment income into the <br />Bond Service Fund from the Bond Amortization Account or any <br />accounts therein; <br />(2) the amount required to pay the principal of Serial <br />Bonds maturing in such Fiscal Year; and <br />(3) the Amortization Installments established for the <br />maturities of Terin Bonds for such Fiscal Year. <br />J. "Maximum Bond Service Requirement" shall mean, as of <br />any particular date of calculation, the Bond Service Requirement <br />which is largest in dollar amount for the then current or any <br />future Fiscal Year. <br />K. "Holder of Bonds" or "Bondholder" or "Holders" or an_v <br />similar term shall mean any person who shall be the Registered <br />-2- <br />
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