Examples of Outstanding Parity Bonds in a sentence
The amount ofP202,175.67 representing overpayment of increased local business taxes under Section 17, under the rates imposed by Ordinance Nos.
The Bonds shall be secured by and payable solely from, equally with the Outstanding Parity Bonds, an irrevocable pledge and dedication of the avails or proceeds of the Tax.
Additional bonds may be issued on and enjoy a full and complete parity with the Bonds with respect to the revenues of the Tax, provided that the anticipated Tax revenues in the year in which the additional bonds are to be issued, as reflected in the budget adopted by the Issuer, must be at least 1.50 times the combined principal and interest requirements for any calendar year on the Bonds, the Outstanding Parity Bonds and the said additional bonds.
The Bonds shall be secured by and payable, equally with the Outstanding Parity Bonds, in principal and interest solely from an irrevocable pledge and dedication of the Net Revenues of the Tax.
In compliance with the Tax Ordinance, all of the Net Revenues of the Tax shall continue to be set aside in a separate fund, as provided in the Outstanding Parity Bond Ordinance and as herein provided and shall be and remain pledged for the security and payment of the Bonds and the Outstanding Parity Bonds in principal and interest and for all other payments provided for in this Bond Ordinance until the Bonds and the Outstanding Parity Bonds shall have been fully paid and discharged.