Bill Text: IL SB0338 2021-2022 102nd General Assembly Chaptered

(f) Except as provided by this subsection, the sale must have been previously approved by a majority of the qualified voters of the district voting at an election held in the district at which a proposition to ascertain approval is submitted. The amount due under this section shall be paid on receipt by the charter district of the bond proceeds. The commissioner shall adopt rules to determine the amount due under this section. (a-1) For purposes of this subsection, “bond security documents” include the resolution, trust agreement, indenture, ordinance, loan agreement, deed of trust, bond, note, and any additional document executed in connection with the issuance of a charter district bond for which a guarantee is requested under this subchapter.

(d) Following full reimbursement to the charter district bond guarantee reserve fund and the permanent school fund, if applicable, with interest, the comptroller shall further cancel the bond or coupon and forward it to the charter district for which payment was made. (2) “Paying agent” means the financial institution that is designated by a school district or charter district as its agent for the payment of the principal of and interest on guaranteed bonds. If you can’t find a bank that will pay you the interest and principal on your bearer bond, look on the bond certificate to find out who issued the bond. When mailing the bond and any coupons, the IRS requires you to send a completed, signed W-9 form with the bearer bond.

How do I buy US bearer bonds?

(2) paying the principal of and interest and premium on any bonds issued pursuant to this subchapter. (b) Immediately following receipt of the funds for payment of the principal or interest, the do bearer bonds expire paying agent shall pay the amount due and forward the canceled bond or coupon to the comptroller. The comptroller shall hold the canceled bond or coupon on behalf of the permanent school fund.

(F) those securities provided for by Article 842, Revised Statutes, and Section 1, Chapter 160, General Laws, Acts of the 43rd Legislature, 1933 (Article 842a, Vernon’s Texas Civil Statutes). (b) A contract under this section may provide for the purchase of investments at a stated yield or yields. (b) Jurisdiction of proceedings under this section is in district court in Travis County. (4) invested, until needed, to the extent and in the manner provided in the bond resolution or order. If a Holder would like to report Safe Deposit Box contents meeting the dormancy box requirements, they may.

The Redemption of Bearer Bonds

While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. Because bearer bonds are anonymous, it is easier for dishonest people to sell or transfer stolen bonds. This makes it hard for law enforcement to find and stop such activities. It’s important to know that a bearer bond’s market value differs from its face value.

(2) be accompanied by a fee set by board rule in an amount designed to cover the costs of administering the programs to provide the guarantee or credit enhancement of eligible bonds. (b) This section does not prohibit an independent school district from providing for the assessment or collection of the school district’s taxes under a method authorized by Subchapter B, Chapter 6, Tax Code. A district may negotiate with the bank that submits the highest-ranked proposal to determine any terms of the proposed depository contract other than the interest rates proposed. (i) Each governing body may refund or refinance outstanding certificates by issuing new interest-bearing certificates within the limitations and conditions provided in this section. The new certificates shall be issued and delivered in lieu of and on surrender to the comptroller and the cancellation of the obligations being refunded, and the comptroller shall register the new certificates and deliver them in accordance with the order authorizing their issuance. The new certificates may be issued in accordance with Subchapter A, Chapter 1207, Government Code, and delivered in accordance with Subchapter B or C of that chapter.

Tags: No tags

Add a Comment

Your email address will not be published. Required fields are marked *