Authorized Amount of Bonds Clause Samples
The "Authorized Amount of Bonds" clause defines the maximum principal amount of bonds that an issuer is legally permitted to issue under a particular agreement or authorization. This clause typically specifies a fixed dollar amount or a formula for determining the total bond issuance limit, ensuring that the issuer does not exceed the approved cap. For example, a municipal government may be authorized to issue up to $50 million in bonds for a public infrastructure project. The core practical function of this clause is to provide clear boundaries on the issuer’s borrowing capacity, thereby protecting investors and stakeholders from unauthorized or excessive debt issuance.
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Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Indenture except in accordance with this Article. The total principal amount of Bonds that may be issued hereunder is expressly limited to $5,800,000, subject to the provisions of Section 207.
Authorized Amount of Bonds. The total principal amount of Bonds that may be issued hereunder is hereby expressly limited to $100,000,000.
Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Indenture except in accordance with this Article II.
Authorized Amount of Bonds. No Bonds may be issued under this Indenture except in accordance with this Article. The total principal amount of Bonds that may be issued is hereby expressly limited to $33,000,000 consisting of $20,000,000 principal amount of Series 1998A Bonds, $5,000,000 principal amount of Series 1998B Bonds and $8,000,000 principal amount of Series 1998C Bonds and the principal amount of any Additional Bonds permitted under the terms of this Indenture.
Authorized Amount of Bonds. The total principal amount of Bonds that may be issued hereunder is hereby expressly limited to $5,000,000.
Authorized Amount of Bonds. 5 Section 2.02. Issuance of Bonds...........................................................................5 Section 2.03. Execution; Limited Obligations..............................................................9 Section 2.04. Officers, Directors, etc. Exempt from Individual Liability.................................10 Section 2.05. Authentication.............................................................................10 Section 2.06. Form of Bonds..............................................................................11 Section 2.07. Delivery of Bonds..........................................................................11 Section 2.08. Mutilated, Lost, Stolen or Destroyed Bonds.................................................11 Section 2.09. Transfer of Bonds; Persons Treated as Owners...............................................12 Section 2.10.
Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Indenture except in accordance with this Article. The total authorized principal amount of Project Bonds which shall be issued under the provisions of this Indenture is $2,700,000. The Issuer may issue, sell and deliver one or more series of Additional Bonds for the purposes, upon satisfaction of the conditions and in the manner provided herein.
Authorized Amount of Bonds. No Bonds may be issued under this Indenture except in accordance with this Article. The total principal amount of Bonds that may be issued hereunder is hereby expressly limited to, and the amount hereby authorized to be issued shall be, $5,000,000.
Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Indenture except in accordance with this Article. Except as provided in Section 2.08 hereof, the total principal amount of Bonds that may be issued hereunder is hereby expressly limited to $165,000,000, consisting of Series 2003A Bonds in an amount not to exceed $50,000,000, Series 2003B Bonds in an amount not to exceed $50,000,000, Series 2003C Bonds in an amount not to exceed $30,000,000, Series 2003D Bonds in an amount not to exceed $20,000,000, and Series 2003E Bonds in an amount not to exceed $15,000,000. It is hereby recognized that the Issuer and the Borrower have reserved the right to provide for the issuance of other obligations not constituting Bonds pursuant to Section 4.1(b) of the Agreement.
Authorized Amount of Bonds. No Bonds may be issued under the provisions of this Indenture except in accordance with this Article. There is hereby created for issuance under this Indenture a series of Bonds designated the "Economic Development Refunding Bonds, (Burlington Coat Factory Warehouse of New Jersey, Inc. - 1995 Project)" in the aggregate principal amount not to exceed $10,000,000. No additional Bonds are authorized pursuant to the terms of this Indenture.