July (pdf) - New York Power Authority

Supplemental Resolution means any resolution supplemental to or amendatory of the General
Resolution, adopted by, or adopted pursuant to authorization granted by, the Authority in accordance with
the General Resolution.
Tax-Exempt Obligations means any Obligations the interest on which is intended by the Authority to
be excluded from gross income for federal income tax purposes and which are designated as Tax-
Exempt Obligations in the Supplemental Resolution authorizing such obligations.
Trust Estate means, collectively: (i) all Revenues; (ii) the proceeds of the sale of Obligations until
expended for the purposes authorized by the Supplemental Resolution authorizing such Obligations; (iii)
all funds, accounts and subaccounts established by the General Resolution, including investment earnings
thereon; and (iv) all funds, moneys, and securities and any and all other rights and interests in property,
whether tangible or intangible, from time to time hereafter by delivery or by writing of any kind conveyed,
mortgaged, pledged, assigned or transferred as and for additional security pursuant to the General
Resolution for the Obligations by the Authority, or by anyone on its behalf, or with its written consent, to
the Trustee, which is authorized to receive any and all such property at any and all times, and to hold and
apply the same subject to the terms of the General Resolution.
Trustee means the trustee appointed in accordance with the General Resolution, and its successor or
successors and any other Person which may at any time be substituted in its place pursuant to the General
Resolution.
(General Resolution, Sec. 101)
Book-Entry-Only System
Notwithstanding any other provision of the General Resolution, the Authority may employ a bookentry-only
system of registration with respect to any Obligations, all as more fully set forth in the General
Resolution and the Supplemental Resolution authorizing such Obligations. Any provisions of the
General Resolution inconsistent with book-entry-only Obligations shall not be applicable to such
book-entry-only Obligations.
(General Resolution, Sec. 309)
Credit Facilities; Qualified Swaps and Other Similar Arrangements; Parity Debt
The Authority may include such provisions in a Supplemental Resolution authorizing the issuance of a
Series of Obligations secured by a Credit Facility as the Authority deems appropriate, and no such
provisions shall be deemed to constitute an amendment to the General Resolution.
The Authority may secure such Credit Facility by an agreement providing for the purchase of the
Obligations secured thereby with such adjustments to the rate of interest, method of determining interest,
maturity, or redemption provisions as specified by the Authority in the applicable Supplemental
Resolution. The Authority may also in an agreement with the issuer of such Credit Facility agree to
directly reimburse such issuer for amounts paid under the terms of such Credit Facility (together with
interest thereon, the ‘‘Reimbursement Obligation’’); provided, however, that no Reimbursement Obligation
shall be created, for purposes of the General Resolution, until amounts are paid under such Credit
Facility. Any such Reimbursement Obligation which may include interest calculated at a rate higher than the
interest rate on the related Obligation, may be secured by a pledge of, and a lien on, the Trust Estate on a
parity with the lien created by the General Resolution to secure the Obligations (a ‘‘Parity
Reimbursement Obligation’’), but only to the extent principal amortization requirements with respect to such
App. 1-7