Bond Year definition
Examples of Bond Year in a sentence
The City shall provide to the County a notice including a schedule showing the principal and interest components of the Bond Requirements for each Bond Year the SSRBs, MID Bonds, or Refunding Bonds will be outstanding, within 10 days of the issuance of City SSRBs, MID Bonds, or Refunding Bonds.
Applying such proportionate percentages would result in the School District receiving $37,180 ($50,000 x 0.744 = $37,180) and the County receiving $12,820 ($50,000 x 0.256 = $12,820) following the end of such Bond Year.
For the avoidance of doubt, Panthers Fund moneys used under Section 4.1(a)(4) hereof must be applied to effect the redemption, purchase, or legal defeasance of the applicable SSRBs, MID Bonds, or Refunding Bonds within the then-current Bond Year.
Moneys may not be retained in the Panthers Fund in any Bond Year for the purpose of redeeming, purchasing, or defeasing SSRBs, MID Bonds, or Refunding Bonds in a subsequent Bond Year.
Any Surplus Net Park Fees paid with respect to the 2024 Tax Year and not applied to meet the Authorized Uses during the Bond Year ending February 28, 2026, would have to be distributed pursuant to this Section 3.3 by March 28, 2026.