Common use of Bona Fide Debt Service Fund Clause in Contracts

Bona Fide Debt Service Fund. To the extent that the Lease Revenue Fund qualifies as a Bona Fide Debt Service Fund, Investment earnings in the fund cannot be taken into account in computing arbitrage rebate and yield reduction amounts (1) with respect to such portion that meets the 6-month, 18- month or 2-year spending exception, or (2) for a given Certificate Year, if the gross earnings on the Lease Revenue Fund for such Certificate Year are less than $100,000. If the average annual debt service on the Certificates does not exceed $2,500,000, the $100,000 earnings test may be treated as satisfied in every Certificate Year.

Bona Fide Debt Service Fund. To the extent that the Lease Revenue Fund qualifies as a Bona Fide Debt Service Fund, Investment earnings in the fund cannot be taken into account in computing arbitrage rebate and yield reduction amounts (1) with respect to such portion that meets the 6-month, 18- 18-month or 2-year spending exception, or (2) for a given Certificate Year, if the gross earnings on the Lease Revenue Fund for such Certificate Year are less than $100,000. If the average annual debt service on the Certificates does not exceed $2,500,000, the $100,000 earnings test may be treated as satisfied in every Certificate Year.

Bona Fide Debt Service Fund. To the extent that the Lease Revenue Debt Service Fund qualifies as a Bona Fide Debt Service Fund, Investment earnings in the fund cannot be taken into account in computing arbitrage rebate and yield reduction amounts (1) with respect to such portion that meets the 6-month, 18- month or 2-year spending exception, or (2) for a given Certificate Bond Year, if the gross earnings on the Lease Revenue Debt Service Fund for such Certificate Bond Year are less than $100,000. If the average annual debt service on the Certificates Bonds does not exceed $2,500,000, the $100,000 earnings test may be treated as satisfied in every Certificate Bond Year.