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7/15/2013 12:38:53 PM
Order Entered:
1. Northern District is authorized to issue its proposed 2013 Refunding Bonds in a principal amount not to exceed $26,570,000 for the purpose of refinancing the outstanding bonds in the bond series listed in Ta;
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Order Entered:
1. Northern District is authorized to issue its proposed 2013 Refunding Bonds in a principal amount not to exceed $26,570,000 for the purpose of refinancing the outstanding bonds in the bond series listed in Table I, but only under such terms and conditions that will produce positive gross savings and net present value savings.
2. Within 30 days of the issuance of the 2013 Refunding Bonds, Northern District shall file with the Commission a statement selling forth the 2013 Refunding Bonds’ date of issuance, principal amount, and interest rates.
3. If the final terms and conditions of the 2013 Refunding Bonds differ from those set forth in the Application, Northern District shall, within 30 days of the issuance of the 2013 Refunding Bonds, file with the Commission amortization schedules and work papers showing the actual gross savings and net present value savings that resulted from the refinancing of the bond series listed in Table I.
4. Within 30 days of the sale and delivery of the proposed bonds, Northern District shall file a copy of the Official Statement of the 2013 Refunding Bonds bond resolution, any documents referenced in the bond resolution that Northern District has not previously filed with the Commission, and its application to and any approval from the State Local Debt Officer.
5. The proceeds from the proposed bond issuance shall be used only for the lawful purposes specified in the Application.
