Federal Interest Subsidy definition

Federal Interest Subsidy means an interest subsidy payment that the City is entitled to receive from the United States United for Taxable Bonds such as “Build America Bonds.” When calculating Adjusted Maximum Annual Debt Service for any Fiscal Year, the Federal Interest Subsidy shall be determined based on the laws in effect on the date the calculation is made.
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Examples of Federal Interest Subsidy in a sentence

  • Federal Interest Subsidy – means the interest subsidy payment received by DART from the United States Treasury relating to the interest payable on the Series 2009B Bonds and the 2010B Bonds under Section 54AA of the Code.

  • Coeur d’Alene, ID 83814 The purpose of this policy is to re-affirm a previous motion of the Coeur d’Alene City Council to not allow for the extension of the City’s Sewer System outside of the municipal boundaries of the City.

  • In addition, Federal Interest Subsidy Payments that are deposited to the Senior Lien Debt Service Fund are pledged to the payment of Senior Lien Obligations.

  • However, the Federal Interest Subsidy is not used to pay or secure the TIFIA or RRIF (defined herein) bond debt service.

  • For purposes of calculating the First Reserve Subaccount Funding Requirement, “Adjusted Maximum Annual Debt Service” means the largest Adjusted Annual Debt Service that occurs after the date for which the calculation is done, and “Adjusted Annual Debt Service” means Annual Debt Service for a Fiscal Year, reduced by the amount of any Federal Interest Subsidy that the City is scheduled to receive for Bond interest in that Fiscal Year.

  • For purposes of meeting the tests described in 2.A. and 2.B. above, “Adjusted Maximum Annual Debt Service” means the largest Adjusted Annual Debt Service that occurs after the date for which the calculation is done, and “Adjusted Annual Debt Service” means Annual Debt Service for a Fiscal Year, reduced by the amount of any Federal Interest Subsidy that the City is scheduled to receive for Bond interest in that Fiscal Year.

  • The University has pledged future revenues, net of specific operating expenses, to repay notes payable as shown in the table below: Current Year **Federal Interest Subsidy on Debt revenue is pledged to pay 35% of the interest incurred on the Build America Bonds.

  • Interest on loans guaranteed through the Guaranteed Student Loan Program shall accrue during periods of postponement and be paid by the Federal Interest Subsidy Program.

  • Tower Village$ 31,950,011 $0$ 0 $63,87440%(2) Federal Interest Subsidy on Debt**511,54422,356100%**Federal Interest Subsidy on Debt revenue is pledged to pay 35% of the interest incurred on the Build America Bonds.

  • In addition, the RP provides a foundation for the establishment of a resolution plan to be initiated by the regulator to provide a comprehensive resolution in the unlikely event of a failed recovery process to ensure that critical services can continue to be offered to the market participants.Principle 4: Credit riskAn FMI should effectively measure, monitor, and manage its credit exposures to participants and those arising from its payment, clearing, and settlement processes.

Related to Federal Interest Subsidy

  • Collateral Interest means a fractional undivided interest in the Trust which shall consist of the right to receive, (i) to the extent necessary to make the required payments to the Collateral Interest Holder under this Supplement, the portion of Collections allocable thereto under the Agreement and this Supplement and funds on deposit in the Collection Account allocable thereto pursuant to the Agreement and this Supplement and (ii) amounts available for payment to the Collateral Interest Holder pursuant to subsections 4.07(k), 4.12(e), 4.12(f), 8.01(b), 8.02(a) and 8.02(b) or any other provision of this Supplement.

  • Additional Interest Rate With respect to any ARD Loan after its Anticipated Repayment Date, the incremental increase in the per annum rate at which such Mortgage Loan accrues interest after the Anticipated Repayment Date (in the absence of defaults) as calculated and as set forth in the related Mortgage Loan documents.

  • the Macfarlane (Special Payments) (No. 2) Trust means the trust of that name, established on 3rd May 1991 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia and other beneficiaries;

  • the Macfarlane (Special Payments) Trust means the trust of that name, established on 29th January 1990 partly out of funds provided by the Secretary of State, for the benefit of certain persons suffering from haemophilia;

  • Assumed Tax Rate means the highest effective marginal combined U.S. federal, state and local income tax rate for a Fiscal Year prescribed for an individual or corporate resident in New York, New York (taking into account (a) the nondeductiblity of expenses subject to the limitation described in Section 67(a) of the Code and (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income, but not taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes). For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.

  • Collateral Interest Holder means the entity so designated in the Transfer Agreement.