1992 ORD O-29-92 - Laserfiche WebLink

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8 9 10 11 12 13 14 15 16 17 18 19 20 21I 22, 23 24 25 26 27 28 WHEREAS,t:his Governing Body has determined that the issuance by Iho Authority of Power Project Revenue Bonds is appropriate to reduce the debt service cost related to the financing of costs of acquisition of the Authority's rights and interest in the San Juan 3 Project and reduce the costs payable by t_ho San Juan 3 Project Participants under the San Juan 3 Proiect Power Sales Contracts or to realize other economic benefits relating to the San Juan 3 Project. NOW THEREFORE, this City does ordain as follows: I. The issuance and sale by the Authority, from gime to time, in one or, more installments, of its Acquisition Bonds, in a maximum aggregate principal amount of $300,000,000, for the financing of costs of acquisition of the Authority's rights and interest in the San Juan 3 Project is hereby authorized. Notwithstanding such maximum aggregate principal amount, the Authority is hereby authorized to issue additional principal amounts of its Acquisition Bonds if and to the extent required to complete the financing of costs of acquisition of the Authority's rights and interest in the San Juan 3 Project. The proceeds from the sale of the Acquisition Bonds hereby authorized are to he used for the financing of costs of acquisition of the Authority's rights and interest In the San Juan 3 Project, including interest on such Bonds and deposits to reserves. `be - Acquisition Bonds hereby authorized, and premium and interest thereon, are to be Payable from, and secured by, funds held in trust for the benefit of the holders of Acquisition Bonds and from revenues of the Authority from t:he San Juan 3 Project including payments received by the Authority from the San Juan 3 Project Participants under the San Juan 3 Project Power Sales Contracts, 2. The issuance and sale by the Authority, from time to time, in one or more installments, of its Refunding Bonds with respect to the San Juan 3 Project is hereby authorized. The estimated maximum aggregate principal amount.