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Their payment constitutes a first charge on all available revenues of the Commonwealth.
Commonwealth law provides for a special sinking fund for the orderly payment of debt service on these bonds.
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Following the move, which came in response to the 1993 peace accords between the Israelis and Palestinians, Israel petitioned the IOC to bar Palestinian athletes from marching under a "Palestine" banner.
Israel's foreign ministry claimed no such nation existed, but the IOC rebuffed the request.
More recently, the IOC angered some Israelis with its decision to recognize a Palestinian National Olympic Committee.Three-time doubles gold medalists Venus and Serena Williams were swept aside in their opening match, just days before Serena – the London 2012 singles gold medalist – crashed in that category’s third round.But as some superstars fell, other favorites – old and new – emerged. 5 singles player Rafael Nadal came back from a nagging wrist injury to win doubles gold and almost take home a second singles medal.The Constitution of the Commonwealth provides that no additional direct debt may be issued or additional guarantees extended if the principal and interest payments for general obligation bonds and notes due in any fiscal year, together with any amount paid by the Commonwealth in respect to its guarantees in the preceding fiscal year, exceed 15 percent of the average annual general revenues of the Commonwealth for the two preceding years. Perhaps above all else, tennis at the Rio 2016 Olympics will be remembered for its numerous upsets. 1 Novak Djokovic, who had completed the career Grand Slam just two months prior, was ousted in the first round.