Application of Proceeds of Sale of Bonds. The proceeds of the purchase of the Bonds by the Original Purchaser (being $ ) shall be paid to the Fiscal Agent, who shall forthwith set aside, pay over and deposit such proceeds on the Closing Date as follows:
Application of Proceeds of Sale of Bonds. Upon the delivery of the Bonds to the Underwriter thereof, and the payment by the Underwriter of the purchase price of the Bonds by wire transfer of $ to the Treasurer, the Treasurer shall deposit the sum received into the Building Fund of the District within the County Treasury, except that moneys derived from premium on the Bonds in the amount of $ shall be deposited in the Interest and Sinking Fund of the District. The District shall cause the Treasurer to create and maintain any accounts or subaccounts for deposit of the proceeds of the Bonds as the District shall determine is necessary in order to separately monitor the investment and expenditure of such funds in order to comply with the laws applicable to each, and as may be necessary to make any needed calculations of arbitrage and rebate thereon.
Application of Proceeds of Sale of Bonds. (a) Upon the receipt of payment for the Bonds on the Closing Date, the Trustee shall apply the net proceeds of sale thereof, equal to $ (calculated as the original principal amount of the Bonds ($_______________), plus net original issue premium of $_______________, and less an Underwriter’s discount of $ ), as follows:
Application of Proceeds of Sale of Bonds. (a) There shall be deposited with the Paying Agent an amount equal to $ , which shall be deposited in the Costs of Issuance Account; and
Application of Proceeds of Sale of Bonds. (a) There shall be deposited with the County Treasurer in the Debt Service Fund for the Bonds, a portion of the premium on the Bonds paid by the Original Purchaser to the District on the Closing Date in the amount of $ ; and
Application of Proceeds of Sale of Bonds. Upon the delivery of the Bonds to the initial purchaser thereof, and the payment by the initial purchaser by wire transfer of (i) $[COI Deposit] to the Paying Agent to be deposited in the Costs of Issuance Account, which is hereby created and which shall be held and administered by the Paying Agent hereunder for payment of the costs of issuance, and (ii) $[Purchase Price – COI Deposit] to the County Treasurer-Tax Collector, for payment of the remaining purchase price of the Bonds. The Paying Agent shall administer the sum received for costs of issuance in accordance with written orders of the initial purchaser and the District dated the date of delivery of the Bonds (the Paying Agent will hold funds in the Costs of Issuance Account uninvested unless otherwise directed by a written order of the District). The County Treasurer-Tax Collector shall deposit (i) $[Building Fund Deposit] in the building fund of the District within the County Treasury, and (ii) the balance of moneys derived from premium on the bonds, in the amount of $[I&S Fund Deposit], in the Interest and Sinking Fund of the District. The District shall cause the County Treasurer to create and maintain any accounts or subaccounts for deposit of the proceeds of the Bonds as the District shall determine is necessary in order to separately monitor the investment and expenditure of such funds in order to comply with the laws applicable to each, and as may be necessary to make any needed calculations of arbitrage and rebate thereon. The Counties make no assurance regarding the application of the proceeds of the Bonds by the District.
Application of Proceeds of Sale of Bonds. The proceeds of the purchase of the Bonds by the Original Purchaser (being $ ) shall be paid to the Fiscal Agent, who shall forthwith deposit and remit, as applicable, such proceeds on the Closing Date as follows: (A) deposit $ to the Costs of Issuance Fund; (B) deposit $ in the Reserve Fund (being an amount equal to the Initial Reserve Fund Deposit); and (C) remit $ to the Escrow Bank, for deposit by the Escrow Bank in the Escrow Fund. The Fiscal Agent may establish a temporary fund to record and facilitate such deposits and remittance of proceeds. In addition to the foregoing, on the Closing Date the District shall transfer or cause to be transferred the following amounts for the following purposes:
Application of Proceeds of Sale of Bonds. Upon the delivery of the Series 2020E Bonds to the underwriters thereof, the District shall cause the initial purchaser to transfer the purchase price of the Series 2020E Bonds in the amount of $[2020E Purchase Price] (consisting of the par amount thereof, plus the original issue premium of $[2020E Premium], less the Underwriters’ discount of $[2020E UW Discount]), as follows (i) $[2020E COI Deposit] to the Paying Agent to be deposited to the Series 2020E Costs of Issuance Account, which is hereby created and which shall be held and administered by the Paying Agent hereunder for payment of the costs of issuance and (ii) $[2020E Remaining Purchase Price] to the Treasurer for payment of the remaining purchase price of the Series 2020E Bonds. The Paying Agent shall administer the sum received for costs of issuance in accordance with a Written Order of the District dated the date of delivery of the Series 2020E Bonds (the Paying Agent will hold funds in the Series 2020E Costs of Issuance Account uninvested unless otherwise directed by a Written Order of the District). The Treasurer shall deposit (i) $[2020E Project Fund Deposit] in the building fund of the District within the County Treasury (the “Building Fund”), and (ii) the balance of moneys derived from premium on the Series 2020E Bonds, in the amount of $[2020E I&S Deposit], in the Interest and Sinking Fund. Upon the delivery of the Series 2020A Bonds to the underwriters thereof, the District shall cause the initial purchaser to transfer the purchase price of the Series 2020A Bonds in the amount of $[2020A Purchase Price] (consisting of the par amount thereof, plus the original issue premium of $[2020A Premium], less the Underwriters’ discount of $[2020A UW Discount]), as follows (i) $[2020A COI Deposit] to the Paying Agent to be deposited to the Series 2020A Costs of Issuance Account and (ii) $[2020A Remaining Purchase Price] to the Treasurer for payment of the remaining purchase price of the Series 2020A Bonds. The Paying Agent shall administer the sum received for costs of issuance in accordance with a Written Order of the District dated the date of delivery of the Series 2020A Bonds (the Paying Agent will hold funds in the Series 2020A Costs of Issuance Account uninvested unless otherwise directed by a Written Order of the District). The Treasurer shall deposit (i) $[2020A Project Fund Deposit] in the Building Fund, and (ii) the balance of moneys derived from premium on the Series 2020A Bonds, in the ...
Application of Proceeds of Sale of Bonds. (a) The amount of $ , representing premium received by the District on the sale of the Bonds, shall be paid to the County Treasurer and deposited in the Debt Service Fund created and established in Section 4.02.
Application of Proceeds of Sale of Bonds. On the Closing Date, the Trustee shall receive, on behalf of the Authority, $ from the Original Purchaser (representing the par amount of the Bonds, [plus/less] an original issue [premium/discount] of $ , less an underwriter’s discount of $ ). The Trustee shall apply the Bonds proceeds as follows:
