Examples of Second Resolution in a sentence
The Authority shall also deposit from time to time in the Construction Fund any other amounts required to he deposited therein pursuant to the Second Resolution or the Agreement, including amounts received by the Authority for or in connection with the System and determined by the Authority to be deposited therein.
The Second Resolution also establishes in the Debt Service Fund a separate account to be known as the “Capitalized Interest Account”.The Trustee shall hold all of the Funds and Accounts.The Trustee is directed to make withdrawals and transfers from the Funds and Accounts established by the Second Resolution in order to rebate certain arbitrage earnings to the United States.
The Authority further represents that the Authority has not heretofore made a pledge of, granted a lien on or security interest in, or made an assignment or sale of the Revenues or any other property pledged by the Second Resolution that is prior to or of equal rank with the pledge made by the Second Resolution and neither the Revenues nor any other property pledged by the Second Resolution have been described in any financing statement.
The Authority’s obligations under these interest rate exchange agreements are payable on a parity with the related Second Resolution revenue bonds.
Mr. Speaker, I yield to the gentleman from California (Mr. LAMALFA).
The Authority shall also deposit from time to time in the Construction Fund any other amounts required to he deposited therein pursuant to the Authority Second Resolution or the Agreement, including amounts received by the Authority for or in connection with the System and determined by the Authority to be deposited therein.
As of June 30, 2014, the Authority had the following (in thousands): Hedging Derivative Instruments — The Authority executed two interest rate exchange agreements (the “synthetic fixed rate agreements”) effective October 24, 2007, in conjunction with its sale of$401 million of Adjustable Rate Fiscal 2008 Series BB Second Resolution Bonds on October 24, 2007.
The Financing Agreement validly transfers the right, title and interest of the Board in the Revenues to the Authority to the extent and as provided in the Financing Agreement, subject only to the provisions of the Act, the Financing Agreement and the Second Resolution permitting the application thereof for or to the purposes, and on the terms and conditions, therein set forth.
The Second Resolution debt is subordinate to the First Resolution debt.
Authority debt service is shown as First Resolution and Second Resolution.