4/24/12 - Barnegat Township School District

SECTION 1. DEFINITIONS.
(a) The following terms defined in the recital to this Agreement shall have the
meanings therein set forth:
Board
Escrow Agent
Prior Bonds
Redemption Date
Refunded Bonds
Refunding Bond Resolution
Refunding Bonds
Refunding Program
(b) “Agreement” shall mean this Escrow Deposit Agreement, dated as of _________,
2012, between the Board and the Escrow Agent;
(c) “Code” shall mean the Internal Revenue Code of 1986, as amended, and the
regulations duly promulgated thereunder;
(d)
(e)
“Eligible Investments” shall mean Government Obligations;
“Escrow Fund” shall mean the fund established pursuant to Section 4 hereof;
(f) “Government Obligations” shall mean direct non-callable obligations (including
obligations issued or held in book entry form on the books of the Department of the Treasury) of
the United States of America, or non-callable obligations, the principal of and interest on which
are unconditionally guaranteed by the United States of America;
(g)
“Open Market Securities” shall mean Government Obligations other than SLGS;
(h) “Securities” shall mean those Government Obligations held by the Escrow Agent
under this Agreement; and
(i) “SLGS” shall mean Government Obligations known as State and Local
Government Series.
SECTION 2. CERTIFICATE OF INDEBTEDNESS WITH RESPECT
TO THE PRINCIPAL AMOUNT AND REDEMPTION PREMIUMS OF
THE REFUNDED BONDS.
The Board hereby certifies to the Escrow Agent and the Escrow Agent hereby
acknowledges that the sum of $___________ is the amount required to pay the principal of and
interest on the Refunded Bonds through and including the Redemption Date, all as shown in
Exhibit A.
Barnegat Township Board of Education Meeting Minutes
April 24, 2012 56