Gross Proceeds

Includes sale proceeds, investment proceeds, transferred proceeds (which, together with sale and investment proceeds equal the “proceeds” of the Bonds) and replacement proceeds, all of which are defined in the Code.

See Also

Code (Internal Revenue)

The Internal Revenue Code of 1986, as amended and in effect on the date of issuance of the bonds.

Hudson Yards Rail Yards

Start with the Bond Basics

Inducement Resolution

A resolution adopted by the issuer or the borrower to indicate the preliminary intention to issue the tax-exempt bonds, subject to satisfaction of certain conditions precedent which may be satisfied on or after the adoption of a bond resolution.