Use of Certificate Proceeds and Other Money. The Certificate proceeds and other money available to the City are expected to be allocated to expenditures as follows: (1) $ of proceeds of the Certificates will be deposited in the Costs of Issuance Fund and used to pay the costs of delivery of the Certificates. (2) $ of proceeds of the Refunding Portion will be deposited in the Series 2014 Account of the Lease Revenue Fund to be applied to the payment of the principal portion and interest portion of basic rent payments of the Refunded Obligations on December 1, 2020. (3) $ of proceeds of the New Money Portion, together with $ of City cash, will be deposited in the Project Fund, of which $ will be used to reimburse the City for costs of the Financed Facility paid before the Issue Date, and $ will be used to pay future costs of the Financed Facility.
Appears in 2 contracts
Sources: Fourth Supplemental Lease Purchase Agreement, Fourth Supplemental Lease Purchase Agreement