General Content › General Content 2026-06-28 General Content General Content (See "RATINGS" herein) In the opinion of Winston & Strawn.
Bond COMM. based on existing statutes. regulations. rulings• and court decisions. interest on the Bonds is not includable in grins income for federal income tax purposes assuming compliance with certain cotenants and the accuracy of certain representations.
Int AA- Moody's A 1 NEW ISSUE - Book-Entry-Only (See "RATINGS" herein) In the opinion of Winston & Strawn.
Bond COMM. based on existing statutes. regulations. rulings• and court decisions. interest on the Bonds is not includable in grins income for federal income tax purposes assuming compliance with certain cotenants and the accuracy of certain representations.
Interest on the bonds is not an "item of tax preference" for purposes of the federal alternative minimum tax imposed on corporations and individuals; however, a portion of such interest may otherwise be includable in the calculation of the federal alternative minimum tax imposed on corporations.
In the further opinion of Bond Counsel. based on existing statutes, interest an the Bonds is exempt from personal income taxes imposed by the State of New York and any political subdivision thereof (including The City of New York).
See "Tax Matters" herein. ,345,000 NEW YORK CITY INDUSTRIAL DEVELOPMENT AGENCY CIVIC FACILITY REVENUE BONDS (INSTITUTE OF INTERNATIONAL EDUCATION, INC.
PROJECT), SERIES 2001 Dated: November I, 2001 Due: September I, 2031 The proceeds of the sale of the 517,345.000 New Yak City Industrial Development Agency Civic Facility Revenue Bonds (Institute of International Education.
Inc.
Project).
Series 2001 (the "Series 2001 Bonds"), will be used to (i) refinance a portion of an outstanding commercial loan in connection with the acquisition of the Facility (as defined herein), (ii) provide for the improvement, renovation and equipping of the Facility and (iii) finance cenain costs of issuance relating to the Series 2001 Bonds.
The Series 2001 Bonds are being issued pursuant to an Indenture of Trust. dated as of November 1.
2001 (the "Indenture"). between the New York City Industrial Development Agency (the "Agency") and The Bank of New York, as trustee (the , Trustee").
The Series 2001 Bonds will be payable solely from payments made by the Institution under the Lease Agreement (as defined herein) and from certain funds established under the Indenture and investment earnings on such funds.
The Series 2001 Bonds will be secured by a guaranty of the Institution_ Sec "SECURITY AND SOURCES OF PAYMENT FOR THE SERIFS 2001 BONDS" herein.
The Series 2001 Bonds will he issued as fully registered bonds in denominations of ,000 or any integral multiple thereof.
Interest (due March 1.2002 and each September I and March 1 thereafter) on the Series 2001 Bonds will be payable by check mailed to the registered owners thereof and principal and Redemption Price of the Series 2001 Bonds will be payable at the principal corporate trust office of The Bank of New York. as Trustee and Paying Agent.
The Series 2001 Bonds will be issued initially under a Book-Entry Only System. registered in the name of Cede & Co.. as nominee for The Depository Trust Company ("DTC, ).
Individual purchases of beneficial interests in the Series 2001 Bonds will be made in book-entry form (without certificates).
So long as DTC or its nominee is the registered owner of the Series 2001 Bonds, payments of the principal and redemption price of and interest on such Series 2001 Bonds will he made directly to DTC or its nominee.
Disbursement of such payments to ow participants is the responsibility of DTC and disbursement of such payments to the beneficial owners is the responsibility of DTC participants.
See , THE SERIES 2001 BONDS , Book-Entry Only System" herein.
THE SERIFS 2001 BONDS ARE SPECIAL.
OBLIGATIONS OF THE AGENCY, PAYABLE BY THE AGENCY AS TO PRINCIPAL REDEMPTION PRICE AND INTEREST SOLELY FROM THE FUNDS PLEDGED UNDER THE INDENTURE.
THE SERIES 2001 BONDS DO NOT CONSTITUTE AND SHALL NOT BE A DEBT OF THE STATE OF NEW YORK OR THE CITY OF NEW YORK AND NEITHER THE STATE OF NEW YORK NOR THE CITY OF NEW YORK SHALL BE LIABLE THEREON.
THE SERIES 2001 BONDS DO NOT GIVE RISE TO A PECUNIARY LIABILITY OR CHARGE AGAINST THE FULL FAITH AND CREDIT OR TAXING POWERS OF THE STATE OF NEW YORK OR THE CITY OF NEW YORK.
THE SERIES 2001 BONDS DO NOT NOW AND SHALL NEVER CONSTITUTE A CHARGE AGAINST THE GENERAL CREDIT OF ME AGENCY NOR SHALL THE SERIES 2001 BONDS BE PAYABLE OUT OF ANY FUNDS OF THE AGENCY OTHER THAN THOSE PLEDGED THEREFOR.
THE AGENCY HAS NO TAXING POWER.
The Series 2001 Bonds are subject to optional redemption. mandatory redemption and special redemption prior to maturity, as described under the heading "THE SERIES 2001 BONDS- herein.
This cover page contains certain information for quick reference only.
It is not a summary of the Series 2001 Bonds.
Investors must read the entire Official Statement to obtain information essential to the making of an informed investment decision.