Application of Proceeds of Bonds Clause Samples

Application of Proceeds of Bonds. On the date of issuance of the Bonds, the Issuer shall cause the proceeds of the Bonds to be deposited in the Construction Fund pursuant to Section 7.02 of the Indenture and applied as provided therefor.

Application of Proceeds of Bonds. The proceeds received by the Authority from the sale of the Bonds in the amount of $19,500,000 shall be deposited with the Trustee in the Bond Proceeds Fund, which the Trustee shall establish hereunder and hold in trust. The Trustee shall transfer such money in the Bond Proceeds Fund upon Written Order of the Borrower to repay the Interim Loan and thereby refunding the Prior Bonds. Upon completion of the foregoing transfer, the Bond Proceeds Fund shall close.

Application of Proceeds of Bonds. On the date of issuance of -------------------------------- the Bonds, the proceeds of the Bonds (such amount being equal to $4,100,000) shall be deposited in the Acquisition/Construction Fund pursuant to Section 7.02 and applied as provided therefor.

Application of Proceeds of Bonds. (A) The Issuer shall deposit with the Trustee all of the proceeds from the sale of the Bonds, including accrued interest payable on the Bonds. The Trustee shall deposit the proceeds from the sale of the Bonds as follows: (1) the portion of the proceeds of the Bonds representing accrued interest on the Bonds into the Bond Fund, and (2) the Trustee shall deposit the remainder of such proceeds into the Project Fund. (B) The proceeds of any Additional Bonds shall be deposited as provided in the supplement to this Indenture authorizing the issuance of such Additional Bonds. Any such proceeds required to be deposited in the Project Fund shall be deposited in the appropriate subaccount relating to such Additional Bonds within the Project Fund.

Application of Proceeds of Bonds. (a) The Series 1990A Bonds. From the net proceeds of the Series 1990A Bonds there shall first be set aside with the Trustee as Revenues in the Bond Fund an amount representing the accrued interest, if any, received on the sale of the Series 1990A Bonds, as provided in Section 5.2 hereof. Thereafter, the Trustee shall forthwith deposit the balance of the net proceeds of the Series 1990A Bonds in the Construction Fund. (b) Proceeds of any series of Additional Bonds shall be applied as provided in the Supplemental Indenture for such series of Bonds.

Application of Proceeds of Bonds. Proceeds from the sale of the Series 2021 Bonds shall be transferred to the Escrow Agent or deposited by the Trustee to the Funds and Accounts created herein as follows:

Application of Proceeds of Bonds. The City shall cause the proceeds from the sale of the Bonds in the amount of $ to be set aside as follows: (A) $ deposited in the Bond Reserve Fund (created by Section 6.4 (Allocation of Special Taxes) which amount is equal to the initial Bond Reserve Requirement; (B) $ deposited in the Costs of Issuance Fund (created by Section 3.2 (Establishment and Application of Costs of Issuance Fund)); and (C) $ transferred to MUFG Union Bank, N.A., as escrow agent to be held in the Escrow Fund (created by Section of the Escrow Agreement). The Fiscal Agent may, in its discretion, establish a temporary fund or account to facilitate the foregoing transfers.

Application of Proceeds of Bonds. (a) Upon receipt of the proceeds from the sale of the Series 2005A Bonds by the Prior Trustee on behalf of the Authority in the amount of $10,300,000, the Prior Trustee transferred such proceeds on the Issuance Date to the Escrow Agent for deposit under the Escrow Deposit Agreement, which together with $119,952.08 provided by the Borrower pursuant to the Escrow Deposit Agreement, was used to pay the redemption price of the Series 1993A Bonds within 90 days of the Issuance Date. (b) Upon receipt of the proceeds from the sale of the Series 2005B Bonds by the Prior Trustee on behalf of the Authority in the amount of $10,500,000, the Prior Trustee transferred such proceeds on the Issuance Date to the Escrow Agent for deposit under the Escrow Deposit Agreement, which together with $235,550 provided by the Borrower pursuant to the Escrow Deposit Agreement, was used to pay the redemption price of the Series 1994A Bonds within 90 days of the Issuance Date. (c) Upon receipt of the proceeds from the sale of the Series 2005C Bonds by the Prior Trustee on behalf of the Authority in the amount of $15,000,000, the Prior Trustee transferred such proceeds on the Issuance Date to the trustee under the Original Indenture for deposit in the Construction Fund thereunder to pay for costs associated with the 2005C Project.

Application of Proceeds of Bonds. The proceeds received by the Authority from the sale of the Bonds shall be deposited with the Trustee, which shall forthwith transfer (a) $135,000,000 of such proceeds to the IFA 2010 Trustee and (b) the balance of such proceeds ($90,000,000) to the County 2010 Trustee.