4/24/12 - Barnegat Township School District

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EXHIBIT C ESCROW DEPOSIT AGREEMENT Dated as of _____________, _____ Between THE BOARD OF EDUCATION OF THE TOWNSHIP OF BARNEGAT, IN THE COUNTY OF OCEAN, NEW JERSEY and TD Bank, National Association, as Escrow Agent Providing for the Payment of the below described Bonds: School Bonds, dated July 1, 2004 Maturing July 15, 2015-2024, inclusive Barnegat Township Board of Education Meeting Minutes April 24, 2012 54
ESCROW DEPOSIT AGREEMENT THIS ESCROW DEPOSIT AGREEMENT is made and entered into as of _________ __, ____, by and between the BOARD OF EDUCATION OF THE TOWNSHIP OF BARNEGAT IN THE COUNTY OF OCEAN, NEW JERSEY (the “Board”), and TD BANK, NATIONAL ASSOCIATION, a national banking association duly organized under the laws of the United State of America with trust and fiduciary powers in the State of New Jersey, as escrow agent in respect of the Refunded Bonds, as defined herein (the “Escrow Agent”). WITNESSETH: WHEREAS, the Board has heretofore issued its $9.139,000 School Bonds, dated July 1, 2004 (the “2004 School Bonds” or the “Prior Bonds”); and WHEREAS, the Board has determined that it is in its best financial interests to issue School District Refunding Bonds in the aggregate principal amount of $___________ (the “Refunding Bonds”) pursuant to a refunding ordinance of the Board which was adopted on March 27, 2012 for the purpose of advance refunding a portion of the Prior Bonds; and WHEREAS, the Board adopted a resolution on April 24, 2012 (the “Refunding Bond Resolution”) for the purpose of, among others, financing a refunding program (the “Refunding Program”) consisting of the refinancing of the portion of the 2004 School Bonds maturing on July 15, 2015 through 2024 (the “Refunded Bonds”); and WHEREAS, the Refunding Program will be effected by depositing with the Escrow Agent a portion of the net proceeds of the Refunding Bonds, which, [together with other available funds], will be sufficient to purchase Government Obligations, as defined herein, which Government Obligations, together with interest thereon, will be sufficient to pay interest on the Refunded Bonds through and including July 15, 2014 (the “Redemption Date”), at which time the Refunded Bonds will be redeemed at a redemption price of 100% of the outstanding principal amount thereof, plus interest accrued to the Redemption Date, and WHEREAS, the execution and delivery of this Escrow Deposit Agreement has been duly authorized by the Board and the Escrow Agent. NOW, THEREFORE, in consideration of the mutual covenants herein contained, the parties hereto intending to be legally bound, hereby agree as follows: Barnegat Township Board of Education Meeting Minutes April 24, 2012 55
Page 1 and 2:
Barnegat Township School District B
Page 3 and 4: Ms. Wood: For the Minutes of the Bo
Page 5 and 6: the 2012 New Jersey Youth Jefferson
Page 7 and 8: this current body. There is a lot g
Page 9 and 10: Mr. Mureo: Your pie chart falls sho
Page 11 and 12: Mr. Adorno: Second Mr. Adorno Mr. C
Page 13 and 14: NAME Karen Wood N. Kappler B. Quick
Page 15 and 16: 13. Motion to approve the following
Page 17 and 18: the records kept by the Board. Such
Page 19 and 20: CERTIFICATE I, Dean Allison, Secret
Page 21 and 22: Upon the surrender of this Refundin
Page 23 and 24: IN WITNESS WHEREOF, the Board of Ed
Page 25 and 26: ASSIGNMENT For value received the u
Page 27 and 28: a. Interest rate certainty in a ris
Page 29 and 30: SUMMARY OF TERMS AND CONDITIONS TAX
Page 31 and 32: C. Experience in New Jersey Bank of
Page 33 and 34: Total Project Costs 4,135,000.00 Re
Page 35 and 36: WHEREAS, in connection with the sal
Page 37 and 38: (B) Any Refunding Bond subject to r
Page 39 and 40: the Refunding Bonds not to be exclu
Page 41 and 42: CERTIFICATE I, Dean Allison, Secret
Page 43 and 44: and to pay interest thereon semi-an
Page 45 and 46: provision, statute or rule of law,
Page 47 and 48: Exhibit B (Form of Continuing Discl
Page 49 and 50: the audited financial statements sh
Page 51 and 52: in law, or change in the identity,
Page 53: EXHIBIT A TO DISCLOSURE CERTIFICATE
Page 57 and 58: SECTION 3. APPOINTMENT OF ESCROW AG
Page 59 and 60: SECTION 8. REDEMPTION OF THE REFUND
Page 61 and 62: nature. Notwithstanding any provisi
Page 63 and 64: (d) This Agreement may be executed
Page 65 and 66: EXHIBIT A TO ESCROW DEPOSIT AGREEME
Page 67 and 68: EXHIBIT C TO ESCROW DEPOSIT AGREEME
Page 69 and 70: IMPORTANT: Under Federal law, indiv
Page 71 and 72: EXHIBIT F TO ESCROW DEPOSIT AGREEME
Page 73 and 74: Underwriter is acting solely in the
Page 75 and 76: (f) this Purchase Contract when dul
Page 77 and 78: operations or the financial conditi
Page 79 and 80: (5) an executed copy of the Disclos
Page 81 and 82: administrative regulation, consent
Page 83 and 84: advertising expenses in connection
Page 85 and 86: THE BOARD OF EDUCATION OF THE TOWNS
Page 87 and 88: PERSONNEL COMMITTEE - MOTIONS: Mrs.
Page 89 and 90: e. Jessica Bourdy - substitute teac
Page 91 and 92: 1. Ciaurro, MaryAnn 3. Nanashko, Lu
Page 93 and 94: 22. Blasi, Richard 68. De Bari, Ker
Page 95 and 96: 2. Delaporte, George - Principal 3.
Page 97 and 98: Township of Barnegat in the County
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4/24/12 - Barnegat Township School District

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