Parity Bonds. The Authority or another issuer may issue additional revenue bonds from time to time payable from the Debt Service Fund and ranking pari passu as to the Economic Development Millage, subject to the Millage Cap, with the Series 2023 Bond then outstanding (“Parity Bonds”), subject to the terms and conditions prescribed in the Bond Resolution.
Parity Bonds. So long as the Prior Bonds are Outstanding, the limitations on the issuance of parity obligations set forth in the Prior Resolution shall be applicable. In addition, no Parity Bonds, payable out of the revenues of the System, shall be issued after the issuance of the Series 2020 A Bonds pursuant to this Bond Legislation, without the prior written consent of the Authority and the BPH and without complying with the conditions and requirements herein provided. All Parity Bonds issued hereunder shall be on a parity in all respects with the Series 2020 A Bonds. No such Parity Bonds shall be issued except for the purpose of financing the costs of the design of additions extensions, improvements or betterments to the System or refunding any Outstanding Bonds, or both such purposes. No Parity Bonds shall be issued at any time, unless there has been procured and filed with the Secretary a written statement by the Independent Certified Public Accountants, reciting the conclusion that the Net Revenues actually derived, subject to the adjustments hereinafter provided for, from the System during any 12 consecutive months, within the 18 months immediately preceding the date of the actual issuance of such Parity Bonds, plus the estimated average increased annual Net Revenues expected to be received in each of the 3 succeeding years after the completion of the improvements to be financed by such Parity Bonds, if any, shall not be less than 115% of the largest aggregate amount that will mature and become due in any succeeding Fiscal Year for principal of and interest, if any, on the following:
Parity Bonds. Provided the Borrower is not in default hereunder, the Borrower may issue bonds, notes or other evidences of indebtedness (“Parity Bonds”) ranking on parity with the Local Bond with respect to the pledge of Revenues to (i) pay Project Costs to complete the Project, (ii) pay the cost of improvements, additions, extensions, replacements, equipment or betterments and of any property, rights or easements deemed by the Borrower to be necessary, useful or convenient for the Airport, (iii) refund some or all of the Local Bond, Parity Bonds, Existing Parity Bonds or Prior Bonds, or (iv) effect some combination of (i), (ii) and (iii); provided in each case the following conditions are satisfied. Except to the extent otherwise consented and agreed to by the Authority in writing, before any Parity Bonds are issued or delivered, the Borrower shall deliver to the Authority the following:
Parity Bonds. In addition to the 2015 Bonds, the City may issue Parity Bonds in such principal amount as shall be determined by the City, under a Supplemental Agreement entered into by the City and the Fiscal Agent. Any such Parity Bonds shall constitute Bonds hereunder and shall be secured by a lien on the Special Tax Revenues and funds pledged for the payment of the Bonds hereunder on a parity with all other Bonds Outstanding hereunder. The City may issue such Parity Bonds subject to the following specific conditions precedent:
Parity Bonds. Parity Bonds may be issued by the Authority, from time to time, ranking as to the lien on the revenue of the Authority derived from the 2019A Project pari passu with the Series 2019A Bond for the specific purpose of completing the financing of the 2019A Project or financing further improvements or additions, real or personal, to the 2019A Project, provided all the provisions of Section 507 of the 2019A Resolution are met. [END OF ARTICLE V] ARTICLE VI REPAIRS, MAINTENANCE, OPERATION, AND ALTERATION OF THE 2019A PROJECT BY THE LESSEE; RELEASE AND REMOVAL OF THE 2019A PROJECT OR PORTIONS OF THE 2019A Project
Parity Bonds. Parity Bonds may be issued by the Authority, from time to time, ranking as to the lien on the revenue of the Authority derived from the Projects pari passu with the Series 2024 Taxable Bonds for the specific purpose of financing further improvements or additions, real or personal, to the Projects, provided all the provisions of Section 507 of the Resolution are met. [End of Article V] ARTICLE VI REPAIRS, MAINTENANCE, OPERATION, AND ALTERATION OF PROJECTS BY XXXXXX, RELEASE AND REMOVAL OF FACILITIES OR PORTIONS OF PROJECTS
