Examples of Installment Payments in a sentence
In addition to the Installment Payments, the County has agreed to make certain other payments (“Additional Payments”) sufficient to pay the fees and expenses of the Trustee and the Corporation and other expenses required to be paid by the County under the Contract.
The 2020 Certificate will be designated “Refunding Certificate of Participation, Series 2020” and will evidence proportionate undivided interests in rights to receive Installment Payments pursuant to the Contract.
The County has covenanted in the Contract to pay the Installment Payments and the Additional Payments as they become due.
The obligation of the County to make Installment Payments is a limited obligation of the County, payable solely from currently budgeted appropriations of the County; does not constitute a general obligation or other indebtedness of the County within the meaning of the constitution of the State of North Carolina; and does not constitute a direct or indirect pledge of the faith and credit or taxing power of the County within the meaning of the constitution of the State of North Carolina.
Under the Contract, the Corporation has agreed to advance to the County the Purchase Price, and the County has agreed to pay directly to the Trustee the Installment Payments in repayment of the Purchase Price, the proceeds of which are required by the Indenture to be distributed by the Trustee to the payment of the principal and interest with respect to the Certificates.