Examples of Daily Rate Mode in a sentence
Staff will continue to report quarterly progress reports to Council.
The Remarketing Agent shall determine the initial Daily Rate on or before the Issuance Date for Bonds initially issued in the Daily Rate Mode.
The Daily Rate shall be the rate of interest determined by the Remarketing Agent for each Interest Rate Period, to be the lowest rate that in its judgment, on the basis of prevailing financial market conditions, would permit the sale of the Bonds in the Daily Rate Mode at par plus accrued interest on and as of the Effective Date, but not in excess of the Maximum Rate.
Bonds in the Daily Rate Mode are subject to tender, at the election of the owner thereof, on the dates, at the prices, in the manner and subject to the limitations described in the FORMS OF BONDS set forth in Exhibit A hereto.
The Paying Agent/Registrar shall also be the tender agent with respect to the tender and purchase of the Bonds in the Flexible Rate Mode, Daily Rate Mode, or Weekly Rate Mode or in the Auction Rate Mode in accordance with the Standard Provisions Resolution.