Prior Resolutions definition
Examples of Prior Resolutions in a sentence
The District hereby instructs the Escrow Bank to provide a Notice of Defeasance of the Refunded Bonds, in its capacity as Prior Bonds Paying Agent, in accordance with the Prior Resolutions, respectively, at the expense of the District, to the owners of the Refunded Bonds, and to file such notice with the Municipal Securities Rulemaking Board Electronic Municipal Market Access (“EMMA”).
The Escrow Agent is hereby directed to establish an escrow fund (the “Escrow Fund”) to be held by the Escrow Agent as an irrevocable escrow securing the payment of the Refunded Bonds in accordance with the provisions of Prior Resolutions, respectively.
In addition, the Escrow Bank, in its capacity as Prior Bonds Paying Agent, shall provide notice of redemption to the Refunded Bond Owners, in accordance with Prior Resolutions, respectively, not less than thirty or more than forty-five days prior to the redemption date.
All Federal Securities and cash on deposit in the Escrow Fund shall be and are hereby irrevocably pledged as a special fund for the payment of the principal of and interest on the Refunded Bonds in accordance with the Prior Resolutions, respectively, at the times and in the amounts set forth in the schedule set forth on Exhibit C.
So long as the Prior Bonds are Outstanding, any requirement for rates set forth in the Prior Resolutions shall be met.