TVA Board Meeting - FY24 Financial plan and budget- Reso-Memo
ARTICLE II
AUTHORIZATION OF NEW POWER BONDS
SECTION 2.1. Principal Amount, Establishment of Terms. There is hereby authorized for the purpose of providing capital for the Corporation in order to assist in financing the Corporation’s Power Program (including refunding of Evidences of Indebtedness issued for such purposes) one or more series of New Power Bonds in the aggregate principal amount of up to $4,000,000,000. That amount may be reduced by the sum of (a) the amount of other power financings commenced during fiscal year 2024 as described in the resolution of the Board of Directors of the Corporation (“Board”) entitled “FY 24 Financial Shelf - Execution of Other Financing Arrangements,” and (b) the amount of power bonds issued under the resolution of the Board entitled “FY 24 Financial Shelf – Reopening of Existing Power Bonds.” The New Power Bonds must be issued on or before September 30, 2024, and may be (a) issued as Book-Entry Bonds (in which case the Book-Entry Procedures shall be applicable thereto) or (b) issued as Certificated Bonds. The terms and conditions of the New Power Bonds of each series shall be established in accordance with the provisions of Section 2.2 of this Supplemental Resolution and set forth in an Officer’s Certificate, prior to the issuance of New Power Bonds of each series. Such terms and conditions of the New Power Bonds of each series, subject to any limitation set out in this Supplemental Resolution, may include:
(a) the title of the New Power Bonds of such series (which shall distinguish the New Power Bonds of such series from Bonds of all other series);
(b)
the aggregate principal amount of the New Power Bonds of such series
which may be issued and delivered pursuant to this Supplemental Resolution;
(c)
the date or dates on which the principal of the New Power Bonds of such
series is payable;
(d) the rate or rates at which the New Power Bonds of such series shall bear interest or the method by which such rate or rates shall be determined, whether the rate shall be fixed or floating, the date from which such interest shall accrue, and the interest payment dates on which such interest shall be payable;
(e)
the currency in which the New Power Bonds of such series shall be
denominated;
(f)
in the case of Certificated Bonds, designation of any paying agent, listing
agent, or transfer agent therefore (which may be the Corporation);
(g)
in the case of Certificated Bonds, the form and method of issuance and
transfer of any New Power Bonds of such series;
(h)
in the case of Certificated Bonds, the designation of a depository for the
NewPower Bonds of such series;
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