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This document provides the resolution authorizing the issuance of Bond Anticipation Notes by the New York City Municipal Water Finance Authority for Fiscal Year 2025. It outlines the purposes of the notes, the authorization process, and the details about payment and redemption procedures, along with contractual obligations to the New York State Environmental Facilities Corporation.

How to fill out bond anticipation note resolution

How to fill out bond anticipation note resolution

1. Obtain a blank bond anticipation note resolution form.
2. Fill in the date at the top of the form.
3. Include the name of the issuing authority.
4. Specify the purpose of the bond anticipation note.
5. Detail the maximum principal amount of the note.
6. Determine and indicate the interest rate for the note.
7. Set the maturity date for the note.
8. Add any necessary covenants or conditions.
9. Include signatures of the officials who are authorized to act.
10. Submit the completed resolution for approval by the governing body.

Who needs bond anticipation note resolution?

1. Municipalities looking to finance projects temporarily.
2. Government entities planning to secure immediate funding before long-term borrowing.
3. Local authorities managing cash flow issues.
4. Organizations needing to raise funds for specific short-term purposes.

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What is bond anticipation note resolution?

A bond anticipation note resolution is a legal document that authorizes the issuance of bond anticipation notes (BANs) by a governmental entity, usually in anticipation of receiving funds from future bond issuances.

Who is required to file bond anticipation note resolution?

Typically, governmental entities such as municipalities or public agencies are required to file a bond anticipation note resolution when they intend to issue BANs.

How to fill out bond anticipation note resolution?

To fill out a bond anticipation note resolution, the governmental entity must include details such as the purpose of the notes, the amount to be issued, the interest rate, redemption terms, and relevant legal authorizations.

What is the purpose of bond anticipation note resolution?

The purpose of a bond anticipation note resolution is to provide a framework for borrowing funds in anticipation of future bond sales, thus allowing the entity to meet immediate financial needs.

What information must be reported on bond anticipation note resolution?

Information reported typically includes the name of the issuer, the amount of the notes, the purpose of the issuance, projected repayment timeline, interest rate, and other pertinent financial terms.