A critic of Valley cityhood said that without a reserve fund
, the city would have to cut services and/or raise taxes and fees, and therefore would not be financially viable under its current budget.
Series B credit enhancement is provided by the reserve fund
and the LOC.
The Series 2006 debt service reserve fund
is available to pay interest and principal when due and payable to the extent that there are insufficient funds in the revenue fund.
Balances in the general reserve fund
at the end of the year will be rebated back to the participants.
The reserve fund
requirement for the 2006 series bonds is 1.
Fitch also affirms the 'AA' rating on approximately $1 billion of the authority's outstanding reserve fund
The series 2006A bond issuance proceeds will be used to fund the capital reserve fund
, deposit $84.
Series 2006C bond proceeds will be used to refund outstanding reserve fund
resolution bonds related to Maine Medical Center (a subsidiary of Maine Health System).
The company is currently before the Florida Public Service Commission (FPSC) seeking an order to recover 2005 storm damage costs and pre-fund its storm damage reserve fund
As of May 1, 2006, the general tax-exempt fund group's debt service reserve fund
3 million in reserve funds
to help close its funding gap.