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Item PFA-3 - Water Revenue Bonds
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Item PFA-3 - Water Revenue Bonds
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Last modified
5/30/2024 4:32:57 PM
Creation date
5/29/2024 6:14:44 PM
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City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
PFA-3
Date
6/4/2024
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of all costs incidental to or connected with such financing or refinancing, and/or (ii) <br />refunding any Bonds then Outstanding; <br />(2) The authorized principal amount and designation of such Additional <br />Bonds; <br />(3) The dated date and the maturity dates of, and the sinking fund <br />payment dates, if any, for such Additional Bonds; <br />(4) The interest payment dates for such Additional Bonds, which shall <br />be Interest Payment Dates; <br />(5) That such Additional Bonds shall be issued only in Authorized <br />Denominations; <br />(6) The redemption premiums, if any, and the redemption terms, if any, <br />for such Additional Bonds; <br />(7) The amount; if any, to be deposited from the proceeds of sale of such <br />Additional Bonds in the Interest Account; <br />(8) The amount, if any, to be deposited from the proceeds of sale of such <br />Additional Bonds in an acquisition fund or construction fund to be established; <br />(9) The Authority may but shall not be required to fund a reserve fund <br />or obtain a reserve fund surety or instrument with respect to any Parity Obligations. <br />If a reserve fund is funded for any Additional Bonds or a qualified reserve fund <br />surety or instrument is obtained with respect to any Additional Bonds, such funded <br />reserve fund or qualified reserve fund surety or instrument shall secure only the <br />related Additional Bonds and shall not support the 2024 Bonds or any other <br />Additional Bonds; <br />(10) The forms of such Additional Bonds; and <br />(11) Such other provisions as are necessary or appropriate and not <br />inconsistent herewith. <br />(d) The Installment Purchase Agreement shall have been amended so as to increase the <br />Installment Payments by the City thereunder by an amount at least sufficient to pay the interest on <br />and principal of such Additional Bonds as the same become due. <br />Nothing contained herein shall limit the issuance of any revenue bonds of the Authority <br />payable from the Revenues and secured by a pledge of the Revenues if after the issuance and <br />delivery of such revenue bonds none of the Bonds theretofore issued hereunder will be <br />Outstanding. <br />SECTION 4.02. Procedure for the Issuance of Additional Bonds. The Authority <br />may, at any time, execute Additional Bonds for issuance hereunder and deliver them to the Trustee, <br />21 <br />55394.00068\42092121.3 <br />
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