Examples of VPSA in a sentence
The principal installments of your local school bond will bear interest at rates 5 basis points (0.05%) above the actual rates on the VPSA Bonds with corresponding principal payment dates.
If you cure your failure to deliver your local school bond within the sixty (60) day period following the Closing Date, VPSA will purchase your local school bond and your bond will bear interest from the date that is fifteen days prior to the date of delivery and payment or other date satisfactory to VPSA.
VPSA will accept delivery of your local school bond only in the form of a single, typewritten, temporary bond, in registered form, payable to VPSA.
The local school bond will be subject to redemption at the option of your governing body, subject to the consent of VPSA or other registered owner.
You will, however, be required to pay to VPSA at your actual closing an amount equal to the positive difference, if any, between (A) the amount of interest that would have accrued on your local school bond had VPSA been able to purchase your local school bond on the Closing Date and (B) the lesser of (i) the amount of interest income VPSA was able to earn, during such period, from the investment of its bond proceeds pending their use to purchase your bond and (ii) the arbitrage yield on the VPSA Bonds.
You will covenant not to sell, without VPSA's consent, any general obligation bonds which are part of the same common plan of financing (and payable from the same source of funds) as your local school bond, during the period beginning 15 days in advance of and ending 15 days after the VPSA Sale Date.
Subject to the satisfaction of the conditions in Section 5 of the Bond Sale Agreement, the Bond Sale Agreement shall constitute a binding commitment of the Locality to sell its local school bond to VPSA as of the later of the VPSA Sale Date and the date the Local Issuer executes the Bond Sale Agreement.
Although the Local School Bond of a Locality may qualify for the Small Issuer Exception, custody, investment and disbursement of the proceeds of the VPSA Bonds applied to the purchase of the Locality's Local School Bond shall continue under the Proceeds Agreement, and the Investment Manager shall continue to provide an Investment Report for such Locality.
VPSA shall carry out, or cause to be carried out, all of its responsibilities under the Letter Agreement and the Related VPSA Tax Agreement.
On 20 days written notice from VPSA, you agree to deliver, at your expense, in exchange for the typewritten bond, on one or more occasions, one or more temporary bonds or definitive bonds in marketable form and, in any case, in fully registered form, in denominations of $5,000 and whole multiples 3 Not applicable to cities and towns.