July (pdf) - New York Power Authority

TABLE OF CONTENTS FOR PART 1
Page
INTRODUCTION ................................................................................................................................. 1-1
SECURITY FOR THE 2011 BONDS................................................................................................... 1-3
Revenues ........................................................................................................................................ 1-3
Trust Estate..................................................................................................................................... 1-4
Application of Revenues ................................................................................................................ 1-4
Rate Covenant ................................................................................................................................ 1-5
Covenant Regarding Projects ......................................................................................................... 1-5
Additional Debt Issuance ............................................................................................................... 1-5
General ........................................................................................................................................... 1-6
USE OF PROCEEDS...................................................................................................................................1-7
THE 2011 BONDS.......................................................................................................................................1-7
General Terms ................................................................................................................................ 1-7
Redemption...........................................................................................................................................1-7
TAX MATTERS ..........................................................................................................................................1-8
Opinions of Bond Counsel Relating to 2011 Bonds ............................................................................1-8
2011 A Bonds........................................................................................................................................1-9
2011 B Bonds (Federally Taxable).....................................................................................................1-11
UNDERWRITING.....................................................................................................................................1-13
CONTINUING DISCLOSURE UNDERTAKINGS FOR THE 2011 BONDS....................................1-13
CREDIT RATINGS ...................................................................................................................................1-14
General ................................................................................................................................................1-14
LITIGATION .............................................................................................................................................1-14
LEGALITY FOR INVESTMENT............................................................................................................1-14
APPROVAL OF LEGAL PROCEEDINGS ............................................................................................1-15
MISCELLANEOUS...................................................................................................................................1-15
Appendix A—Form of Approving Opinion of Hawkins Delafield & Wood LLP with
Respect to the 2011 Bonds ....................................................................................................... App. A-1
Appendix B—Book-Entry-Only System Procedures................................................................... App. B-1
Appendix C—Form of Continuing Disclosure Agreement ......................................................... App. C-1
Appendix D—Litigation .............................................................................................................. App. D-1