Examples of Refunded Obligations in a sentence
Redemption of Refunded Obligations; Approval of Escrow Agreement.
In furtherance of authority granted by Section 1207.007(b), Texas Government Code, the Pricing Officer is further authorized to enter into and execute on behalf of the Issuer the Escrow Agreement, in substantially the form presented to the Board at the meeting at which this Order was adopted and as shall be approved by the Pricing Officer, which Escrow Agreement will provide for the payment in full of the Refunded Obligations.
It is hereby found and determined that the refunding of the Refunded Obligations is advisable and necessary in order to restructure the debt service requirements of the Issuer, and that the overall debt service requirements on the Bonds will be less than the overall debt service on the Refunded Obligations, resulting in a reduction in the amount of principal and interest which otherwise would be payable.
The Refunded Obligations are subject to redemption, at the option of the Issuer, and the Pricing Officer is hereby authorized to cause all of the Refunded Obligations to be called for redemption on the dates consistent with the savings analysis set forth in Section 2(b) hereof, and the proper notices of such redemption to be provided in accordance with the proceedings authorizing the Refunded Obligations.
The Pricing Officer is hereby authorized and directed to issue or cause to be issued the Notice of Redemption of the Refunded Obligations that contains the information required by the proceedings authorizing the Refunded Obligations to the paying agent for the Refunded Obligations.