This is a Prior instruments and Obligations form, in addition to being made subject to all conveyances, reservations, and exceptions or other instruments of record, this assignment is made and assignee accepts this assignment subject to all terms, provisions, covenants, conditions, obligations, and agreements, including but not limited to the plugging responsibility for any well, surface restoration, or preferential purchase rights, contained in any contracts existing as of the effective date of this assignment and affecting the assigned property, whether or not recorded.
Nassau County, located in the state of New York, is known for its diverse range of prior instruments and obligations. These instruments and obligations play a crucial role in maintaining the financial stability and overall development of the county. Here are some of the key types of Nassau New York prior instruments and obligations: 1. General Obligation Bonds: General Obligation Bonds are an essential financial instrument issued by Nassau County to fund various public projects like infrastructure development, schools, parks, and other community initiatives. These bonds are backed by the full faith and credit of the county, ensuring a reliable source of payment for bondholders. 2. Revenue Bonds: Nassau County also issues revenue bonds to finance specific projects that generate revenue, such as toll roads, airports, or water and sewer systems. The repayment of these bonds is solely reliant on the revenue generated by the project, with no obligation on the county's general fund. 3. Tax Anticipation Notes (Tans): Tans are short-term obligations issued by Nassau County to meet its immediate cash flow requirements before receiving tax revenues. These notes are repaid as soon as the county collects taxes, typically within one year, ensuring a temporary funding solution for essential services. 4. Bond Anticipation Notes (BAN's): Similar to Tans, Bond Anticipation Notes are short-term obligations used by Nassau County to kick-start capital improvement projects while awaiting the issuance of long-term bonds. Once the long-term bonds are sold, the proceeds are used to repay the BAN's. 5. Capital Lease Obligations: Nassau County may enter into capital lease obligations to finance the acquisition or construction of essential equipment or facilities. These obligations function like long-term leases but have characteristics similar to debt, as the county takes ownership of the assets at the end of the lease term. 6. Pension Obligations: Nassau County has the responsibility to fund public employee pensions, ensuring retirement benefits for current and former county employees. These obligations include contributions towards the New York State and Local Employees' Retirement System (YEARS) or Police and Fire Retirement System (FRS) pensions, which are essential for employee welfare and ensure a stable workforce. 7. Other Post-Employment Benefits (OPEN): Nassau County also bears obligations for providing retiree healthcare benefits, known as Other Post-Employment Benefits. These benefits include medical, dental, and life insurance coverage, reflecting the county's commitment to its employees' long-term well-being. Nassau County's prior instruments and obligations, including the ones mentioned above, are vital for sustaining the county's infrastructure, public services, and employees' welfare.Nassau County, located in the state of New York, is known for its diverse range of prior instruments and obligations. These instruments and obligations play a crucial role in maintaining the financial stability and overall development of the county. Here are some of the key types of Nassau New York prior instruments and obligations: 1. General Obligation Bonds: General Obligation Bonds are an essential financial instrument issued by Nassau County to fund various public projects like infrastructure development, schools, parks, and other community initiatives. These bonds are backed by the full faith and credit of the county, ensuring a reliable source of payment for bondholders. 2. Revenue Bonds: Nassau County also issues revenue bonds to finance specific projects that generate revenue, such as toll roads, airports, or water and sewer systems. The repayment of these bonds is solely reliant on the revenue generated by the project, with no obligation on the county's general fund. 3. Tax Anticipation Notes (Tans): Tans are short-term obligations issued by Nassau County to meet its immediate cash flow requirements before receiving tax revenues. These notes are repaid as soon as the county collects taxes, typically within one year, ensuring a temporary funding solution for essential services. 4. Bond Anticipation Notes (BAN's): Similar to Tans, Bond Anticipation Notes are short-term obligations used by Nassau County to kick-start capital improvement projects while awaiting the issuance of long-term bonds. Once the long-term bonds are sold, the proceeds are used to repay the BAN's. 5. Capital Lease Obligations: Nassau County may enter into capital lease obligations to finance the acquisition or construction of essential equipment or facilities. These obligations function like long-term leases but have characteristics similar to debt, as the county takes ownership of the assets at the end of the lease term. 6. Pension Obligations: Nassau County has the responsibility to fund public employee pensions, ensuring retirement benefits for current and former county employees. These obligations include contributions towards the New York State and Local Employees' Retirement System (YEARS) or Police and Fire Retirement System (FRS) pensions, which are essential for employee welfare and ensure a stable workforce. 7. Other Post-Employment Benefits (OPEN): Nassau County also bears obligations for providing retiree healthcare benefits, known as Other Post-Employment Benefits. These benefits include medical, dental, and life insurance coverage, reflecting the county's commitment to its employees' long-term well-being. Nassau County's prior instruments and obligations, including the ones mentioned above, are vital for sustaining the county's infrastructure, public services, and employees' welfare.
