General Resolution definition
Examples of General Resolution in a sentence
The 20 Bonds are issued pursuant to a resolution entitled “Multi-Family Housing Revenue Bonds Bond Resolution” adopted by the Corporation on July 27, 1993, as amended (the “General Resolution”), and a supplemental resolution for the 20 Bonds entitled “ Supplemental Resolution Authorizing the Issuance of Multi-Family Housing Revenue Bonds, 20 Series ” adopted by the Corporation on (the “Supplemental Resolution” and together with the General Resolution, the “Resolutions”).
You hereby authorize the form of the General Resolution, the 20 Series Supplemental Resolution, the Official Statement and the information therein contained to be used in connection with the [public] offering and sale of the 20 Bonds.
The proceeds of the 20 Bonds are expected to be used as provided in the Official Statement under the heading “PLAN OF FINANCING—General—20 Series Bonds.” The 20 Bonds are being issued on a parity with and shall be entitled to the same benefit and security of the General Resolution as all other Bonds (other than subordinate Bonds) issued or to be issued thereunder.
There is no lien on the Trust Estate other than the liens created by or pursuant to the General Resolution and the Subordinated Resolution.
The Letter of Credit is a “Credit Facility” as defined in the General Resolution.