Sentences with phrase «debt service reserve»

A common deposit requirement for a «debt service reserve fund» is six months or one - year's debt service on the bonds.

The payment, which was made from debt service reserve accounts and a cash infusion from the island's general fund, is the first test case for the commonwealth's new approach to restructuring its debt.

«That being the case, it is my duty to point out that after excluding debt service reserves and amounts owed to other clubs on past transfers the balance reduces to # 149 million.

The Group has no short - term debt and its cash reserves, excluding the balances designated as debt service reserves, amounted to GBP193.1 million (2014 - GBP173.3 million).

Utilizing a $ 10 million federal enhancement grant and a $ 100,000 contribution from the Texas Education Agency (TEA), TCEP provides credit enhancement for municipal bonds that provide financing for the acquisition, construction, repair or renovation of Texas charter school facilities (including certain refinancing of facilities debt that meet federal guidelines), by funding a debt service reserve fund for such issuances.

Proceeds of these bonds can be used for expenditures, debt service reserve funds and costs of issuing the bonds but not to refinance capital expenditures, so - called refunding issues.